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Table 8.IV.D

New York City's Pension Trust Funds
Additions and Deductions

(in $ thousands)

  
  2012
Fiscal Year Ended June 30		  
  Particulars NYC
Employees'
Retirement
System		 NYC
Teachers'
Retirement
System		 Board of
Education
Retirement
System		 NYC
Police
Pension
Fund		 NYC
Fire
Pension
Fund		 Total  
  Additions:              
  Member contributions $403,641 $164,361 $32,866 $216,172 $98,494 $915,534  
  Employer contributions 3,017,004 2,673,078 213,651 2,230,702 976,895 9,084,330  
  Other employer contributions - 59,185 - - - 59,185  
  Interest income 527,999 561,666 25,990 361,931 97,567 1,575,153  
  Dividend income 637,074 706,921 30,182 333,333 122,806 1,830,316  
  Change in value of investments (481,678) (385,387) 33,513 (212,957) (98,920) (1,145,429)  
  Investment expenses (129,482) (110,382) (5,812) (91,684) (32,928) (370,288)  
  Securities lending income 26,304 32,664 83,873 16,551 5,340 82,356  
  Securities lending fees (1,324) (2,475) (28) (1,102) (317) (5,246)  
  Other 4,772 853 - 5,552 5,023 77,110  
  Total additions...a 4,004,310 3,700,484 331,859 2,831,498 1,206,598 48,383  
                 
  Deductions:              
  Benefit payments  3,689,230 4,487,547 194,507 2,083,907 1,037,589 11,492,780  
  Payments to other funds 12,441 - - - - 12,441  
  Other 4,977 - 141,695 - - 146,672  
  Administrative expenses 51,385 39,713 8,687 16,577 - 116,362  
  Total deductions...b 3,758,033 4,527,260 344,889 2,100,484 1,037,589 11,768,255  
  Increase in net assets..c=a-b  246,277 (826,776) (13,030) 731,014 169,009 306,494  
                 
  Net Assets in Pension Trusts:              
  Beginning of Year...d 42,409,059 33,601,537 2,323,629 24,748,860 7,955,668 111,038,753  
  End of Year...c+d 42,655,336 32,774,761 2,310,599 25,479,874 8,124,677 111,345,247  
     
  2011
Fiscal Year Ended June 30		  
  Particulars NYC
Employees'
Retirement
System		 NYC
Teachers'
Retirement
System		 Board of
Education
Retirement
System		 NYC
Police
Pension
Fund		 NYC
Fire
Pension
Fund		 Total  
  Additions:              
  Member contributions $413,740 $158,829 $31,008 $206,859 $94,893 $905,329  
  Employer contributions 2,387,216 2,468,973 180,191 2,084,563 890,706 8,011,649  
  Other employer contributions - 56,138 - - - 56,138  
  Interest income 492,169 538,883 28,462 295,753 91,695 1,446,962  
  Dividend income 619,853 643,854 29,010 307,839 100,972 1,701,528  
  Change in value of investments 6,864,360 7,808,361 373,410 4,008,833 1,304,444 20,359,408  
  Investment expenses (145,088) (125,546) (6,463) (90,375) (28,242) (395,714)  
  Securities lending income 23,364 27,836 1,388 15,093 4,756 72,437  
  Securities lending fees (3,202) (4,719) (117) (2,046) (733) (10,817)  
  Other 4,707 737 95,958 2,561 41,887 61,620  
  Total additions...a 10,657,119 11,573,346 732,847 6,829,080 2,500,378 145,850  
                 
  Deductions:              
  Benefit payments  3,568,707 4,4330,670 186,265 2,049,193 983,474 11,118,309  
  Payments to other funds 12,357 - - - - 12,357  
  Other 4,416 - - - - 4,416  
  Administrative expenses 46,374 39,549 8,892 16,141 - 110,956  
  Total deductions...b 3,631,854 4,370,219 195,157 2,065,334 983,474 11,246,038  
  Increase in net assets..c=a-b  7,025,265 7,203,127 537,690 4,763,746 1,516,904 21,046,732  
                 
  Net Assets in Pension Trusts:              
  Beginning of Year...d 35,383,794 26,398,410 1,785,939 19,985,114 6,438,764 89,992,021  
  End of Year...c+d 42,409,059 33,601,537 2,323,629 24,748,860 7,955,668 111,038,753  
     
  2010
Fiscal Year Ended June 30		  
  Particulars NYC
Employees'
Retirement
System		 NYC
Teachers'
Retirement
System		 Board of
Education
Retirement
System		 NYC
Police
Pension
Fund		 NYC
Fire
Pension
Fund		 Total  
  Additions:              
  Member contributions 398,964 138,075 31,361 222,711 89,223 880,334  
  Employer contributions 2,197,717 2,484,074 147,349 1,980,066 874,331 7,683,537  
  Other employer contributions - 82,214 - - - 82,214  
  Interest income 572,698 570,129 27,765 320,152 96,958 1,587,702  
  Dividend income 490,057 527,292 22,199 239,919 79,139 1,358,606  
  Change in value of investments 3,411,929 3,791,955 171,833 1,802,616 666,775 9,845,108  
  Investment expenses 175,261 129,070 4,036 90,105 28,377 426,849  
  Securities lending income 22,716 22,487 1,248 11,921 4,430 62,802  
  Securities lending fees (3,329) (4,634) (137) (1,432) (724) (10,256)  
  Other 4,696 - -        
  Total additions...a 6,920,187 7,482,522 435,814 4,488,908 1,816,745 21,144,176  
                 
  Deductions:              
  Benefit payments  3,378,423 4,118,027 178,413 1,911,331 954,773 10,540,967  
  Payments to other funds 8,436 - - - - 8,436  
  Other 3,274 2,109 - - - 5,383  
  Administrative expenses 49,676 41,465 8,047 16,518 - 115,706  
  Total deductions...b 3,439,809 4,161,601 186,460 1,927,849 954,773 10,670,492  
  Increase in net assets..c=a-b  3,480,378 3,320,921 249,354 2,561,059 861,972 10,473,684  
                 
  Net Assets in Pension Trusts:              
  Beginning of Year...d 31,903,416 23,077,489 1,536,585 17,424,055 5,576,792 79,518,337  
  End of Year...c+d 35,383,794 26,398,410 1,785,939 19,985,114 6,438,764 89,992,021  
     
  2009
Fiscal Year Ended June 30		  
  Particulars NYC
Employees'
Retirement
System		 NYC
Teachers'
Retirement
System		 Board of
Education
Retirement
System		 NYC
Police
Pension
Fund		 NYC
Fire
Pension
Fund		 Total  
  Additions:              
  Member contributions 382,356 143,281 30,970 211,559 84,357 852,523  
  Employer contributions 2,150,495 2,223,644 134,225 1,932,150 843,751 7,284,265  
  Other employer contributions - 74,145 - - - 74,145  
  Interest income 690,300 631,210 35,274 329,163 106,811 1,792,758  
  Dividend income 491,248 574,006 25,400 248,934 80,229 1,419,817  
  Change in value of investments (8,126,304) (8,996,021) (390,243) (4,470,871) (1,457,773) (23,441,212)  
  Investment expenses (138,152) (101,973) (2,763) (73,692) (22,719) (339,299)  
  Securities lending income 93,407 105,931 5,648 55,557 21,996 282,539  
  Securities lending fees (46,650) (51,412) (2,681) (26,923) (11,461) (139,127)  
  Other 3,709 1,035 - 3,758 42,729 51,231  
  Total additions...a (4,499,591) (5,396,154) (164,170) (1,790,365) (312,080) (12,162,360)  
                 
  Deductions:              
  Benefit payments  3,252,075 3,786,582 171,593 1,830,032 928,453 9,968,735  
  Payments to other funds 8,489 - - - - 8,489  
  Other 4,433 - 141,089 - - 145,522  
  Administrative expenses 48,822 37,639 8,413 16,580 - 111,454  
  Total deductions...b 3,313,819 3,824,221 321,095 1,846,612  928,453  10,234,200  
  Increase in net assets..c=a-b  (7,813,410) (9,220,375) (485,265) (3,636,977) (1,240,533) (22,396,560)  
                 
  Net Assets in Pension Trusts:              
  Beginning of Year...d 39,716,826 32,297,864 2,021,850 21,061,032 6,817,325 101,914,897  
  End of Year...c+d 31,903,416 23,077,489 1,536,585 17,424,055 5,576,792 79,518,337  
 

Note:
 See Table 8.I for an explanation of the terms used here.
  
 

Source: 
Comprehensive Annual Financial Reports of the Comptroller
  

 

This online resource has data that are subject to update and revision.
Copyright © The Weissman Center for International Business
Baruch College/CUNY 2012
Photos: Copyright Jeff Greenberg/NYC & Company, Inc.

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