State pension funds continue to struggle
New
Jersey’s pension funds are continuing to struggle because they are
still digging out of the hole left by the financial crisis and, in
recent months, have been hit by the market meltdown in Europe.
The
funds that serve 769,000 current or former state and local government
workers held a total of $67.2 billion in assets as of Dec. 31, according
to figures released Thursday.
But
state and local governments face a combined $41.8 billion in
liabilities over the next 30 years in excess of the amount the state
currently holds, actuary figures released this week show. (Method,
Gannett)
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