NJ PFRS Asset Move

The New Jersey Police and Firemen’s Retirement System (PFRS) was supposed to get their assets to invest three years ago but the process seems only to be starting now with an RFQ for Class Counsel that the PFRS board sent out yesterday.

Here is how much is involved.

From the latest Division of Investment report there is about $89 billion to split up.

From the latest actuarial reports for the system PFRS is allocated about one-third of the market value of assets:

That comes to about $30 billion to expect.

From the the RFQ for Transition of Assets :

Currently, the Division of Investment in conjunction with the State Investment Council invests the approximately $89 billion dollars of assets from the five State Administered plans in two commingled funds, Common Pension Fund D and E. In 2018, Chapter 55 was enacted which separates the PFRS from the other retirement systems, and transfers power for implementing investment policy and direction of investments to the PFRSNJ Board. The outside counsel will assist the PFRSNJ Board and system with transition of assets at the State’s Custodian bank, State Street, and will assist the PFRSNJ in drafting an MOU with the Division of Investments regarding operations post the transfer of assets.

One response to this post.

  1. […] Posted on June 15, 2021June 15, 2021 by Mary Pat Campbell NJ PFRS Asset Move […]

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