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Big gains for NJ public-worker pension investments


Credit: (AP Photo/Mark Lennihan)
File photo: The Charging Bull statue in New York’s financial district
Investment returns for New Jersey’s public-worker pension fund have been soaring in recent months, providing some promising news nearly a year after the start of the COVID-19 pandemic triggered major losses.
Preliminary figures reviewed by members of the State Investment Council during a meeting Wednesday indicated overall investment returns totaled nearly 15% for the first half of the current fiscal year.
Those returns easily topped the pension system’s assumed rate of 7.3% for long-term investment earnings.
New Jersey’s public pension system is one of the nation’s worst-funded, and strong investment earnings can help ease potential pressure on the state budget since taxpayers help fund promised retirement benefits over the long term. ....

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