- 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”.
Updated June 2019 based on 2017-18 data.