Tag: PFRS

NJ PFRS Asset Move

Mary Pat Campbell
NJ PFRS Asset Move

Graphic:

Excerpt:

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:

Author(s): John Bury

Publication Date: 15 June 2021

Publication Site: Burypensions

PFRS Boost & NJ Active Update – December, 2020

Mary Pat Campbell
PFRS Boost & NJ Active Update – December, 2020

Excerpt:

This is a good time to review who will be impacted as state pension data on active participants in the retirement system has just been updated through December, 2020. There are no dates of birth so it is impossible to get an accurate count as some of those members who have between 18 and 25 years of service may already be age 55 but here is my cost estimate anyway.

All PFRS members: 40,532 with average salary of $96,364

Already with 25 years of service: 3,252 with average salary of $143,156

18 to 25 years of service: 10,543 with average salary of $118,750

If half of those eligible decide to retiree on their 50% pension for an extra 3.5 years that would come to an extra billion dollars coming out of the retirement system which is about double what the OLS estimated as the maximum.

Author(s): John Bury

Publication Date: 2 March 2021

Publication Site: Burypensions