DiNapoli Loses State Workers Billions

He’s the top money man in state government, but in the second quarter of 2011…not so much.  The state pension fund which DiNapoli is responsible for lost 8.9 percent of its value in the months of July, August and September, for a total loss of $13.1 billion, down to $133.8 billion from its June 30 number of $146.9 billion. The rate of return pensioners received on their money dipped 7.48 percent in that time. Dinapoli said, “Like all investors, the fund has been affected by the sluggish economy and increased volatility in the markets.”

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