That $6.4 billion is what the actuaries hired by New Jersey for the specific purpose of providing absurdly low contribution amounts came out with for the 7/1/21 to 6/30/22 plan year. It includes a massive amortization portion to make up for decades of absurdly low contribution amounts (some of which were not even deposited).
Author(s): John Bury
Publication Date: 22 February 2021
Publication Site: Burypensions