The investment portfolio for the state’s pension fund fell short of its benchmark by more than 2 percentage points.
Tag: New Jersey
The credit ratings agency downgraded the state one notch, to A-, and gave it a negative outlook.
When the crisis abates, the gap between well-funded plans and the others will be even larger.
Economic impact of virus could lower state pension valuation.
Called the ‘burnout bill’ by advocates, pension beneficiaries could retire after 20 years, but get no health benefits.
Real return is the $76 billion plan’s best-performing asset class.