You might have your own but based on this spreadsheet, created by pulling off pertinent valuation data from each of the July 1, 2021 actuarial reports for the New Jersey retirement system with tabs for similar data going back to 2020, 2019, 2015, 2012, and 2000, here are mine:
$119,849,137,218: Value of benefits payable to retirees
$104,727,739,422: Market value of ALL assets
$15 billion short for current retirees ALONE even when considering:
- phony assumptions used to value liabilities,
- assets that include tens of billions in self-valued ‘alternative’ investments, and
- state contributions dependent on illegal borrowing and covid relief money.
442,705 public employees have nothing in their pensions but IOUs and their $2.2 billion in annual contributions (and roughly $30 billion in accrued contributions) are propping up a ponzi scheme.
Posted by NJ's Public Pensions Remain at Risk Because There Are Fewer Active Workers Per Retiree; So Taxpayers Will Pay More - Sunlight Policy Center on May 6, 2022 at 10:24 am
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