Will US Public Pension Plans Ever Get Back to Full Funding?
This century has been unkind, but maybe some can squeak by with only modest improvements.
Tag: Phil Murphy
Manager Selection
New Jersey Secure Choice Savings Program Names First Executive Director
After a nationwide search, former EBSA executive Todd Hassler was appointed to head the state program.
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
New Jersey Freezes Nearly $1 Billion in Spending Over COVID-19
Economic impact of virus could lower state pension valuation.
Alternatives
New Jersey to Cut Its Hedge Funds in Half
Pension fund plans to boost Treasury bonds, private equity investments.
Newsmakers
Alternatives Are Moving New Jersey’s Funding Needle
How the floundering pension employed them to better its funding status during a rough 2018.
Newsmakers
NJ Gov. Shifts Police, Firefighter Pensions to Unions
Moving the $26 billion retirement plan eases their concern that it may end up bailing out weaker plans.