Asset Allocation
New Jersey Pension Fund Loses 7.9% in Fiscal 2022
Falling markets wipe out close to $10 billion in asset value.
Tag: New Jersey
Newsmakers
States Improved Their Economies in 2021, a Plus for Public Pension Plans
Florida ranks at the top of the economic heap, Louisiana at the bottom, says Conning survey.
Manager Selection
Shoaib Khan Appointed as CIO and Permanent Director of New Jersey’s Division of Investments
He is the first CIO to be hired after New Jersey scrapped its CIO salary cap law.
Asset Allocation
U.S. Pension Funds Scramble to Figure Out What to Do With Russian Investments
Colorado has already divested from its Russian investments, while CalPERS, CalSTRS and others mull their options.
Asset Allocation
States Divest Unilever Stock Over Ben & Jerry’s Boycott
New Jersey and Arizona are pulling a combined $325 million out of the consumer goods giant after the ice cream maker said it would stop selling in Israeli-occupied territories.
Pensions
New Jersey Ups Pension Contribution 44% Due to Tax Receipt Surge, US Aid
The Garden State’s program has been one of the nation’s most underfunded.
Pensions
Insurers Have Been Draining Funds from New Jersey’s Pensions for 15 Years
Report calls 2006 policy that shifted financial obligations for employee injuries to pensions ‘a windfall to insurers.’
Pensions
New Jersey Pension Fund Misses Benchmark with 10.75% Return in 2020
Portfolio returns 14.81% in first half of fiscal 2021 as asset value rises to $84.6 billion.
Pensions
New Jersey Pension Fund Returns Only 0.82% Year to Date
The investment portfolio for the state’s pension fund fell short of its benchmark by more than 2 percentage points.
Pensions
New Jersey Governor Proposes $4.6 Billion Pension Payment
The record contribution falls short of what’s needed for the nation’s worst-funded retirement system.
Newsmakers
Black-Owned Asset Manager Sues NJ Pension Fund, BlackRock for Racial Bias
State officials purportedly admitted the agency had ‘an aversion’ to minority-owned firms, the lawsuit says.
Coronavirus - COVID-19
New Jersey to Postpone Pension Payments
A September payment has been deferred to October, or the start of the next fiscal year, as the state makes deep cuts and deferrals to stanch revenue losses.
Market Moves
New Jersey Likely to Cut Pension Contributions, S&P Global Says
The credit ratings agency downgraded the state one notch, to A-, and gave it a negative outlook.
Coronavirus - COVID-19
Haves and Have Nots: Virus Effect Will Widen the Public Pension Divide
When the crisis abates, the gap between well-funded plans and the others will be even larger.
Coronavirus - COVID-19
New Jersey Is Enlisting State Pensioners to Return to Work
The governor hopes to bolster ranks thinned by the coronavirus, letting retired workers collect regular pay without shrinking their pension payouts.