NJ Pension Fund Shortfall
I was reading a letter to the editor of Business Week yesterday and a pension fund external auditor for the City of Detroit estimated that the City's plan was under funded by $188,000 per elgible person. I wonder if we can find how many elgible people are in New Jersey's plan and even use a lowball estimate to see what the real underfunded amount is?
posted by RBM @ 10:21 AM
1 comments
1 Comments:
Good luck. The state keeps its money in so many pockets no one knows for sure how much there really is.
Even the PERS is subdivided. For example, According to the League of Municipalities, the municipal employees' fund is solvent, taking in 103% of payouts. There is a county officials fund (of which I know nothing). It is the state PERS fund that has billions in shortfall.
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