Major pension plans in the state
Plan Name | Assets (millions) | Participants | Funded Ratio | Percent of ARC Paid | Retirement System that Administers the Plan |
---|---|---|---|---|---|
New Jersey PERS | 29,848.0 | 432,479 | 52.2 | New Jersey Division of Pension and Benefits | |
New Jersey Police & Fire | 27,792.4 | 88,122 | 67.4 | New Jersey Division of Pension and Benefits | |
New Jersey Teachers | 22,696.7 | 262,886 | 40.3 | New Jersey Division of Pension and Benefits | |
Jersey City Municipal Employees | 129.8 | 1,193 | 51.2 | 100.0 | Jersey City Municipal Employees Pension Fund |
Source: Public Plans Database (as of 2019)
Public Cost
Annual Required Contribution as percent of State and Local Own-Source Revenue, 2001-2018
Fiscal Year | NJ | US |
---|---|---|
2001 | 0.6 | 2.9 |
2002 | 0.7 | 3.0 |
2003 | 0.3 | 3.4 |
2004 | 1.3 | 4.2 |
2005 | 0.5 | 3.8 |
2006 | 0.2 | 3.7 |
2007 | 3.3 | 3.9 |
2008 | 3.7 | 4.2 |
2009 | 2.6 | 4.4 |
2010 | 3.1 | 4.6 |
2011 | 1.6 | 4.9 |
2012 | 3.3 | 5.0 |
2013 | 4.0 | 5.2 |
2014 | 3.3 | 5.6 |
2015 | 3.5 | 5.8 |
2016 | 4.0 | 6.1 |
2017 | 4.6 | 6.0 |
2018 | 5.2 | 6.4 |