The city’s five pension systems have returned an estimated 18% in the first seven months of fiscal 2021.
A second straight year of double-digit growth boosted global pension asset values to $52.5 trillion.
The provision would beef up the PBGC and provide a boost for multiemployer and single-employer plans. But it would also freeze COLAs.
Portfolio gains roughly $876 million in last two months of year to raise asset value to a record $9.5 billion.
Portfolio returns 14.81% in first half of fiscal 2021 as asset value rises to $84.6 billion.