The New Jersey Division of Pension and Benefits administers pension and other benefits for most public employees in the state, including teachers, state employees, and employees of political subdivisions that have elected to participate. The Division maintains nine pension plans. Three plans--the Public Employees' Retirement System, Teachers' Pension & Annuity Fund and the Police & Firemen's Retirement System--comprise more than 98% of all active members. Assets are managed by the state treasurer's office.
New Jersey Division of Pension and Benefits Basics, by Plan
Source: Public Plans Database (as of 2022)
Note: New Jersey Division of Pension and Benefits has 6 other plans.
Assets
Assets at Year-End
New Jersey Division of Pension and Benefits
2001-2022
| Fiscal Year |
Net Assets (billions) |
| 2001 |
74.3 |
| 2002 |
67.0 |
| 2003 |
65.5 |
| 2004 |
71.6 |
| 2005 |
74.7 |
| 2006 |
79.3 |
| 2007 |
89.2 |
| 2008 |
85.1 |
| 2009 |
69.4 |
| 2010 |
74.2 |
| 2011 |
80.5 |
| 2012 |
77.7 |
| 2013 |
81.6 |
| 2014 |
83.5 |
| 2015 |
81.4 |
| 2016 |
75.3 |
| 2017 |
79.3 |
| 2018 |
81.5 |
| 2019 |
82.3 |
| 2020 |
79.9 |
| 2021 |
98.1 |
| 2022 |
90.1 |
Membership
Ratio of Actives to Beneficiaries, 2001-2022
| Fiscal Year |
New Jersey Division of Pension and Benefits |
US State and Local Pensions |
| 2001 |
2.4 |
2.4 |
| 2002 |
2.5 |
2.3 |
| 2003 |
2.5 |
2.2 |
| 2004 |
2.4 |
2.1 |
| 2005 |
2.4 |
2.1 |
| 2006 |
2.3 |
2.0 |
| 2007 |
2.3 |
2.0 |
| 2008 |
2.2 |
1.9 |
| 2009 |
2.2 |
1.9 |
| 2010 |
2.1 |
1.8 |
| 2011 |
2.0 |
1.7 |
| 2012 |
1.8 |
1.6 |
| 2013 |
1.7 |
1.5 |
| 2014 |
1.5 |
1.4 |
| 2015 |
1.5 |
1.4 |
| 2016 |
1.4 |
1.4 |
| 2017 |
1.4 |
1.4 |
| 2018 |
1.4 |
1.3 |
| 2019 |
1.4 |
1.3 |
| 2020 |
1.3 |
1.3 |
| 2021 |
1.3 |
1.2 |
| 2022 |
1.3 |
1.2 |
2022 Membership for New Jersey Division of Pension and Benefits
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 441,559 |
348,860 |
2,205 |
792,624 |
2,375 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
New Jersey Division of Pension and Benefits
2001-2022
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
-2,666.5 |
74,268.8 |
| 2002 |
-2,630.5 |
67,011.2 |
| 2003 |
-3,484.2 |
65,539.8 |
| 2004 |
-2,697.5 |
71,647.3 |
| 2005 |
-2,976.0 |
74,730.1 |
| 2006 |
-2,800.2 |
79,254.9 |
| 2007 |
-2,150.3 |
89,194.2 |
| 2008 |
-2,339.1 |
85,135.6 |
| 2009 |
-3,398.6 |
69,419.4 |
| 2010 |
-3,645.0 |
74,193.2 |
| 2011 |
-5,654.9 |
80,529.1 |
| 2012 |
-4,597.5 |
77,652.3 |
| 2013 |
-4,315.1 |
81,633.1 |
| 2014 |
-5,306.8 |
83,482.4 |
| 2015 |
-5,318.1 |
81,354.8 |
| 2016 |
-5,329.6 |
75,347.6 |
| 2017 |
-4,993.1 |
79,312.5 |
| 2018 |
-4,573.1 |
81,526.8 |
| 2019 |
-4,029.9 |
82,293.1 |
| 2020 |
-3,679.4 |
79,866.6 |
| 2021 |
-2,860.4 |
98,110.0 |
| 2022 |
-897.8 |
90,054.8 |
2022 Cash Flows for New Jersey Division of Pension and Benefits (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 11,914.5 |
12,812.3 |
-7,157.4 |
-8,055.2 |
Cash Flow as a Percentage of Assets
New Jersey Division of Pension and Benefits
2001-2022
| Fiscal Year |
New Jersey Division of Pension and Benefits |
National Average |
| 2001 |
-3.6 |
-2.1 |
| 2002 |
-3.9 |
-2.4 |
| 2003 |
-5.3 |
-2.6 |
| 2004 |
-3.8 |
-2.0 |
| 2005 |
-4.0 |
-2.2 |
| 2006 |
-3.5 |
-2.2 |
| 2007 |
-2.4 |
-2.1 |
| 2008 |
-2.7 |
-2.3 |
| 2009 |
-4.9 |
-3.1 |
| 2010 |
-4.9 |
-3.2 |
| 2011 |
-7.0 |
-3.1 |
| 2012 |
-5.9 |
-3.3 |
| 2013 |
-5.3 |
-3.1 |
| 2014 |
-6.4 |
-2.9 |
| 2015 |
-6.5 |
-2.8 |
| 2016 |
-7.1 |
-3.0 |
| 2017 |
-6.3 |
-2.9 |
| 2018 |
-5.6 |
-2.6 |
| 2019 |
-4.9 |
-2.6 |
| 2020 |
-4.6 |
-2.4 |
| 2021 |
-2.9 |
-2.1 |
| 2022 |
-1.0 |
-2.1 |
