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Diverse Investment Talent Helps
Strengthen the State Pension Fund
 Joining State Comptroller DiNapoli is Assemblymember Crystal Peoples-Stokes (left) and Wanda Williams, former director of Political Action and Legislation of DC 37.
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Bringing diverse perspectives to the table makes government, businesses and organizations stronger, and that is certainly the case with the New York Common Retirement Fund. Last week, State Comptroller DiNapoli hosted the 16th Annual Emerging Manager and MWBE Conference in Albany. The conference brought together over 800 institutional asset managers and investment professionals to meet with Fund staff and program partners to learn about the Fund’s investment decisions and monitoring processes.
This year’s conference theme, “Embracing Change through Resiliency and Reinvention,” was particularly pertinent as emerging managers discuss opportunities and challenges in the financial markets and adapt New York State’s recovery from the COVID-19 pandemic.
“The Emerging Manager program continues to help the State pension fund earn attractive returns by tapping fresh pools of talent and accessing new strategies in fulfillment of our investment objectives,” State Comptroller DiNapoli said.
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NYS Black and Puerto Rican Caucus 2023: Empowering Communities of Color
“I was inspired last weekend at the New York State Association of Black, Puerto Rican, Hispanic & Asian Legislators’ 52nd annual conference. It was great to see the energy, enthusiasm and dedication from leaders from across this State to empower communities of color,” State Comptroller DiNapoli said.
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Lunar New Year 2023: Year of the Rabbit
In recognition of Lunar New Year, State Comptroller DiNapoli sat down with Congresswoman Grace Meng from Queens County for a discussion on what the holiday means to her family, her call for an Asian Pacific American Museum, and the scourge of recent anti-Asian hate crimes.
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COMING UP: State Comptroller DiNapoli will sit down with one of New York’s noted leaders, Congresswoman Yvette Clark. Tune into Facebook on Tuesday, February 28th at 2:00 PM for an engaging Black History Month conversation: https://www.facebook.com/nyscomptroller
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New York City’s $104.8 billion preliminary fiscal year (FY) 2024 budget has benefitted from better-than-projected revenue collections, the reallocation of unused federal pandemic relief funds and savings initiatives, according to a report released by State Comptroller DiNapoli. DiNapoli’s office assumes that a number of the fiscal risks the city currently faces will continue, increasing the planned budget gap to about $8.9 billion in FY 2025 and $13.9 billion in FY 2027 (18% of city-fund revenues), even when adjusting for stronger revenue collections.
State Comptroller DiNapoli issued a statement on the Metropolitan Transportation Authority (MTA)’s February Financial Plan:
“There is still a lack of clarity on how the MTA will close its $600 million deficit this year. The agency is depending on the State for new revenue to offset ridership loss and balance its budget through 2026, but this funding is not yet assured, and savings have not been identified. The MTA must hold up its end of the bargain and identify how it’s going to save $100 million this year, and more than $400 million annually to stay afloat and avoid impacts to services in the future.”
State Comptroller DiNapoli, the U.S. Attorney for the Northern District of Georgia Ryan K. Buchanan and the Inspector General for the Social Security Administration Gail S. Ennis announced the arrest of a Georgia resident, Sandra Smith, for allegedly stealing over $450,000 in New York state pension and Social Security payments made to her deceased mother-in-law over a 16-year period.
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