NJ Pensions Not Fully Funded: Down to 72.6%

For all those banking on the “state” to take care of us…

    The state has less money than it owes for anticipated pension obligations because of investment losses earlier this decade, a lowering of the retirement eligibility age and a failure by past governors to make annual contributions. The value of the pension system’s assets dropped to $56.3 billion as of February, from more than $82 billion as of June 2007, after losses on investments.

Bloomberg Article

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