New Jersey PERS Basics

  • Established 1955
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, New Jersey PERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 24.4
2002 21.5
2003 21.0
2004 23.0
2005 23.9
2006 25.3
2007 28.4
2008 27.2
2009 22.5
2010 24.3
2011 27.0
2012 26.4
2013 27.9
2014 29.0
2015 28.6
2016 26.8
2017 28.5
2018 29.5
2019 29.8

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year New Jersey PERS US State and Local Pensions
2001 2.7 2.5
2002 2.7 2.4
2003 2.6 2.3
2004 2.6 2.2
2005 2.6 2.1
2006 2.5 2.1
2007 2.5 2.0
2008 2.4 2.0
2009 2.3 1.9
2010 2.2 1.8
2011 2.0 1.7
2012 1.8 1.6
2013 1.7 1.5
2014 1.7 1.5
2015 1.6 1.5
2016 1.5 1.4
2017 1.4 1.4
2018 1.4 1.3
2019 1.4 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for New Jersey PERS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 0.3 1.8 5.0 2.0 2.0
2002 0.2 1.7 4.8 1.8 1.8
2003 0.2 0.3 5.7 0.5 0.5
2004 0.2 0.3 7.3 0.5 0.5
2005 0.5 0.8 9.0 1.4 1.4
2006 1.3 1.0 9.3 2.3 2.3
2007 4.0 2.7 10.0 6.7 6.7
2008 5.0 4.1 10.4 9.1 9.1
2009 5.2 5.5 10.2 10.7 10.7
2010 5.3 6.5 10.5 11.9 11.9
2011 7.2 8.5 12.5 15.7 15.7
2012 8.5 8.0 12.9 16.6 16.6
2013 9.5 7.2 13.9 16.7 16.7
2014 8.2 7.5 14.5 15.7 15.7
2015 9.4 7.7 14.9 17.1 17.1
2016 11.2 7.4 14.8 18.6 18.6
2017 12.8 6.7 15.1 19.5 19.5
2018 14.3 5.9 18.1 20.2 20.2
2019 null null 18.8 null null

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for New Jersey PERS, 2001-2019

Fiscal Year New Jersey PERS National Data
2001 117.1 106.5
2002 107.3 101.1
2003 97.9 94.2
2004 91.3 93.1
2005 85.3 91.1
2006 78.0 90.5
2007 76.0 91.2
2008 73.1 90.2
2009 64.9 83.2
2010 69.5 81.5
2011 66.8 80.4
2012 63.6 78.9
2013 62.1 78.7
2014 60.9 79.0
2015 59.5 78.2
2016 57.2 76.3
2017 60.1 76.4
2018 55.1 76.5
2019 52.2 76.1

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for New Jersey PERS, 2019

Category Percent
Equities 47.5
Fixed Income 19.1
Private Equity 10.9
Real Estate 6.2
Cash 7.7
Other 0.0
Commodities 2.8
Hedge Fund 5.9
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for New Jersey PERS, 2006-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2006 67.1 24.5 0.0 1.7 5.9 0.0 0.0 0.8 0.0
2007 59.2 25.1 0.0 1.4 8.2 0.0 0.0 6.1 0.0
2008 49.3 29.7 0.0 1.6 7.2 0.0 0.0 12.1 0.0
2009 44.8 35.0 4.7 2.5 7.6 0.0 1.0 4.3 0.0
2010 42.1 35.0 6.3 2.8 0.0 0.0 1.5 5.1 0.0
2011 45.6 29.2 7.3 3.7 5.7 1.6 1.6 5.3 0.0
2012 45.2 28.0 7.8 4.7 1.7 1.9 2.8 7.8 0.0
2013 46.9 21.3 8.1 5.1 4.6 1.7 2.5 9.8 0.0
2014 45.1 19.4 9.1 4.6 6.7 1.9 2.6 10.7 0.0
2015 45.3 18.0 9.7 4.7 5.8 1.9 2.3 12.2 0.0
2016 42.8 18.1 10.6 5.9 6.2 2.3 2.6 11.5 0.0
2017 46.3 19.0 10.3 6.0 5.3 2.5 2.7 8.0 0.0
2018 47.9 18.0 11.1 6.2 4.9 2.4 3.1 6.4 0.0
2019 47.5 19.1 10.9 6.2 7.7 0.0 2.8 5.9 0.0

Source: Public Plans Database


Annual Return as of June 30 for New Jersey PERS, 2001-2019

Fiscal Year New Jersey PERS Assumed return
2001 -10.40 8.75
2002 -9.00 8.75
2003 3.30 8.75
2004 14.10 8.25
2005 8.70 8.25
2006 9.80 8.25
2007 17.10 8.25
2008 -2.66 8.25
2009 -14.27 8.25
2010 13.36 8.25
2011 18.03 7.95
2012 2.52 7.90
2013 11.78 7.90
2014 16.87 7.90
2015 4.16 7.90
2016 -0.93 7.65
2017 13.07 7.50
2018 9.06 7.50
2019 6.27 7.50

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
New Jersey PERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -893.7 24,381.5
2002 -1,021.1 21,485.7
2003 -1,242.2 20,960.5
2004 -706.8 23,032.2
2005 -1,046.4 23,914.5
2006 -944.1 25,308.8
2007 -744.8 28,375.0
2008 -746.4 27,237.0
2009 -906.8 22,542.8
2010 -906.4 24,332.7
2011 -1,151.9 26,994.4
2012 -1,239.6 26,383.4
2013 -1,151.2 27,920.0
2014 -1,566.0 28,999.6
2015 -1,563.8 28,553.6
2016 -1,554.3 26,762.1
2017 -1,500.2 28,464.2
2018 -1,434.8 29,472.4
2019 -1,374.3 29,848.0

Source: Public Plans Database


Cash Flow as a Percentage of Assets
New Jersey PERS
2001-2019

Fiscal Year New Jersey PERS National Average
2001 -3.7 -2.3
2002 -4.8 -2.3
2003 -5.9 -2.6
2004 -3.1 -1.7
2005 -4.4 -1.9
2006 -3.7 -1.9
2007 -2.6 -1.7
2008 -2.7 -1.9
2009 -4.0 -2.7
2010 -3.7 -2.9
2011 -4.3 -2.8
2012 -4.7 -3.1
2013 -4.1 -3.0
2014 -5.4 -2.7
2015 -5.5 -2.8
2016 -5.8 -3.0
2017 -5.3 -2.9
2018 -4.9 -2.4
2019 -4.6 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for New Jersey PERS benefit descriptions.