New York's pension fund over the final three months of the calendar year posted a 4.51% return amid ongoing market volatility, state Comptroller Tom DiNapoli on Friday announced. 

The pension fund is now valued at $242.3 billion at the end of the third quarter of New York's fiscal year, which concludes March 31. 

“The equity markets had some difficult times in 2022, but the Fund posted positive results for the quarter,” DiNapoli said. “Market volatility may persist in 2023, but the Fund remains well-diversified and built to handle these ups and downs. Our pensioners and members can remain confident that their benefits are safe thanks to our prudent management and long-term perspective.”

The pension fund's value reflects the paying out of $3.8 billion in retirement and death benefits over the last three months, DiNapoli said.