(Bloomberg) — New Jersey's pension fund return is expected to exceed 16 percent for fiscal 2014 on gains that include an unanticipated $6.1 billion, according to the state Treasury Department.
Data as of June 30, which exclude some investments reported on a delayed basis, showed returns of 15.9 percent, treasury officials said in a statement. The fund's total value was $80.6 billion, up from $66.9 billion four years earlier. The state investment division will report the performance to its oversight council at a meeting tomorrow.
Governor Chris Christie, seeking voter support for changes to the New Jersey Public Employees'Retirement System atop those he made in 2010, said the state's compensation is "out of whack."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
