The estimated value of the New York State pension fund was more than $254 billion at the end of the fiscal year's first quarter, according to the state comptroller's office.

Comptroller Tom DiNapoli said Thursday that the Common Retirement Fund had an estimated value of $254.1 billion at first quarter's end, with investments returning an estimation of just over 3%.

At the end of the state's last fiscal year, according to a press release, the audited value of the fund was $248.5 billion. The long-term expected rate of return is 5.9%.

Near the end of 2022, with a more troubled financial market, the situation looked different: The fund was valued at $232.2 billion at the end of the second fiscal quarter on Sept. 30, posting a negative rate of return at 3.85%.

“Recent economic indicators have shown a resilient U.S. economy, but the Fund’s diversified portfolio is well-positioned to handle any market fluctuations," DiNapoli said in a statement. "Our pensioners, members and beneficiaries can remain confident that their benefits are safe thanks to our prudent management and long-term perspective.”