New Jersey State Pension Fund and New Jersey State Cash Management Fund

  • 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 $124 Billion dollars in debt heading into 2018
  • According to the new accounting standards introduced by WNYC, the total pension debt is $253 billion dollars as of 2018. The total state budget for New Jersey is $35 Billion.
  • 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”

Resources:
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