Some thing that everyone should think about before it
actually happens is retirement. In New York State, the state has a program
called the New York State Common Retirement Fund (CRF), which is pension fund.
This pension fund is third largest pension fund in the U.S. with $178.8
billions in audited net assets. The State Comptroller (DiNapoli) acts as the
sole trustee of the CRF.
DiNapoli announced that he is going to add additional $1.2
billion to the Emerging Manager Program, bring the total budget to $5 billion. “The
recent $1.2 billion in commitments to the program will help strengthen the
Fund’s overall investment strategy on behalf of the more than one million
members and beneficiaries of the Retirement System” ($1.2 billion in new
commitments to State Pension Fund’s Emerging Manager Program news article)
The Emerging Manager Program permits
the CRF to invest in “newer, smaller and diverse investment management firms
and provides opportunities of invest with qualifies minority and women owned
business enterprises” (Emerging Manager Program). DiNapoli states “When you look at our program, and the success of it,
and the overall strength of the Fund, it’s proof that expanding opportunities
and access, to women-owned firms, to firms of color, to emerging managers –
it’s not only the right approach, but it’s certainly the best approach” (New
York State Common Retirement Fund’s Emerging Manager Program news article).
If you are interested in learning more about or starting
your retirement, you should visit the New York State & Local Retirement
System website (http://www.osc.state.ny.us/retire/index.php#
) or the New York Retirement News website (http://nysretirementnews.com/ ).
Sources:
Emerging Manager Program
Link to $1.2 billion in new commitments to State Pension
Fund’s Emerging Manager Program news article.
Link to New York State Common Retirement Fund’s Emerging
Manager Program news article. Also has a video on the page
Pension Fund Overview