Public Employee Press

Annuity Fund statement due in July

The DC 37 AFSCME Annuity Fund will issue its annual statement to nearly 70,000 account holders in mid-July.

The financial climate and instability in the market for investment securities for fiscal year 2009, which ended on June 30, had a negative impact on the fund. The Annuity Fund is invested primarily (65%) in a diversified portfolio of investment-grade bonds and (35%) in a stock portfolio.

The fund’s bond portfolio exceeded expectations; however, the stock market performance over the period was very negative. As a result, while the returns on the total portfolio were negative, participants’ losses were limited, compared to the severe losses occurring in the stock market.

If you have questions about the Annuity Fund, please contact the fund office at 212-815-1888.