New Jersey Police & Fire Basics

  • Established 1944
  • Currently open to new hires
  • Plan covers police and/or fire
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, New Jersey Police & Fire, 2001-2018

Fiscal Year Net Assets (billions)
2001 16.8
2002 15.2
2003 14.9
2004 16.4
2005 17.4
2006 18.9
2007 21.6
2008 21.1
2009 18.1
2010 19.8
2011 21.3
2012 21.0
2013 22.5
2014 25.0
2015 25.1
2016 24.0
2017 25.8
2018 27.1

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year New Jersey Police & Fire US State and Local Pensions
2001 1.8 1.9
2002 1.7 1.8
2003 1.6 1.7
2004 1.6 1.6
2005 1.5 1.6
2006 1.5 1.5
2007 1.5 1.5
2008 1.4 1.5
2009 1.4 1.5
2010 1.3 1.4
2011 1.2 1.3
2012 1.1 1.3
2013 1.0 1.2
2014 0.9 1.2
2015 0.9 1.2
2016 0.9 1.2
2017 0.9 1.1
2018 0.9 1.1

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 Police & Fire, 2001-2018

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 3.0 10.5 12.1 13.5 13.5
2002 0.0 13.1 12.8 13.1 13.1
2003 0.0 12.8 14.8 12.8 12.8
2004 2.5 12.1 16.9 14.6 14.6
2005 5.9 10.8 21.2 16.7 16.7
2006 10.2 10.4 23.7 20.6 20.6
2007 15.9 7.2 25.5 23.2 23.2
2008 21.7 5.0 28.0 26.7 26.7
2009 19.5 9.0 29.1 28.5 28.5
2010 20.4 10.8 29.3 31.2 31.2
2011 24.4 12.3 31.2 36.6 36.6
2012 22.6 11.3 33.6 33.9 33.9
2013 24.3 10.4 34.7 34.8 34.8
2014 23.9 7.3 33.8 31.2 31.2
2015 25.5 7.4 33.7 32.9 32.9
2016 26.5 8.7 34.0 35.2 35.2
2017 27.5 7.6 34.0 35.1 35.1
2018 30.3 6.5 35.4 36.8 36.8

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for New Jersey Police & Fire, 2001-2018

Fiscal Year New Jersey Police & Fire National Data
2001 100.9 107.1
2002 95.8 101.2
2003 88.5 91.9
2004 84.0 85.3
2005 80.1 84.3
2006 78.4 80.8
2007 77.6 80.2
2008 74.3 79.6
2009 70.8 77.6
2010 77.1 73.2
2011 75.0 72.2
2012 74.3 71.9
2013 73.1 72.7
2014 72.6 72.2
2015 72.6 72.4
2016 70.3 72.3
2017 68.8 71.8
2018 69.5 72.2

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 Police & Fire, 2018

Category Percent
Equities 47.9
Fixed Income 18.0
Private Equity 11.1
Real Estate 6.2
Cash 4.9
Other 2.4
Commodities 3.1
Hedge Fund 6.4
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.4
Fixed Income 21.8
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.1
Misc. Alternatives 1.3

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for New Jersey Police & Fire, 2006-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2006 65.3 31.5 0.3 0.1 2.5 0.0 0.0 0.4 0.0
2007 57.8 31.8 1.4 1.2 4.4 0.0 0.6 2.8 0.0
2008 46.0 36.2 3.4 2.3 6.5 0.0 1.2 4.5 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

Source: Public Plans Database


Annual Return as of June 30 for New Jersey Police & Fire, 2001-2018

Fiscal Year New Jersey Police & Fire 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

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
New Jersey Police & Fire
2001-2018

Fiscal Year Cash Flow Assets
2001 -695.7 16,789.3
2002 -325.3 15,205.0
2003 -755.3 14,880.0
2004 -470.4 16,353.2
2005 -326.6 17,410.0
2006 -160.2 18,925.2
2007 -132.4 21,570.0
2008 -169.6 21,061.2
2009 -236.5 18,088.9
2010 -253.0 19,844.1
2011 -1,622.9 21,292.7
2012 -657.1 21,007.1
2013 -693.9 22,504.9
2014 -866.0 25,020.5
2015 -836.2 25,106.9
2016 -971.4 23,984.7
2017 -928.1 25,847.7
2018 -892.2 27,098.6

Source: Public Plans Database


Cash Flow as a Percentage of Assets
New Jersey Police & Fire
2001-2018

Fiscal Year New Jersey Police & Fire National Average
2001 -4.1 -3.2
2002 -2.1 -3.0
2003 -5.1 -4.2
2004 -2.9 -3.1
2005 -1.9 -2.4
2006 -0.8 -1.8
2007 -0.6 -1.2
2008 -0.8 -0.8
2009 -1.3 -0.8
2010 -1.3 -1.1
2011 -7.6 -2.4
2012 -3.1 -1.1
2013 -3.1 -1.1
2014 -3.5 -3.3
2015 -3.3 -1.9
2016 -4.1 -1.7
2017 -3.6 -3.1
2018 -3.3 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for New Jersey Police & Fire benefit descriptions.