- The New Jersey state pension system is comprised of seven public service pension funds.
- As of January 2018, that State of New Jersey Pension Fund possessed assets that covered 30 percent of outstanding liabilities, below the 40 percent mark that the Rockefeller Institute deems “crisis level.”
- The New Jersey State Pension Fund is the most under-funded in America with $135.7 billion dollars in debt in 2017.
- The burden of New Jersey’s astronomical debt amounts to $67,500 per taxpayer, which is due, in part, to a $23.5 billion rise in pension liabilities from 2016-2017.
- New Jersey’s non-bonded long term obligations have soared past the $200 billion mark, and the payments currently being made toward this debt are insufficient to cover the $115 billion worth of future outstanding pension payments owed by the state.
- By 2023 the state will be liable for $11.3 billion dollars of pension benefits, amounting to 27 percent of the total budget for the state.
- The Urban Institute Pension Report Card gave the New Jersey State Pension Fund a rating of “D”.
Pew Report on New Jersey’s Pension Fund
Mercatus Institute on New Jersey’s Pension Fund
Urban Institute on New Jersey’s Pension Fund
Manhattan Institute Report on New Jersey Pension Fund
Updated June 2019 based on 2017-18 data.