New Jersey Teachers Pension & Annuity Fund (TPAF) vs New Jersey Police & Firemen's Retirement System (PFRS)
Side-by-side pension health comparison from DOL and public plan data
New Jersey Teachers Pension & Annuity Fund (TPAF) (C) and New Jersey Police & Firemen's Retirement System (PFRS) (C) are close on the LakeQuality rubric. Funding ratios sit at 48% and 58% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
New Jersey Police & Firemen's Retirement System (PFRS) has a stronger Pension Health Score of 55/100 (C) compared to New Jersey Teachers Pension & Annuity Fund (TPAF) at 51/100 (C). Funding ratios differ by 10.0 percentage points (58.1% vs 48.1%). New Jersey Police & Firemen's Retirement System (PFRS) covers 88,000 participants.
| Metric | New Jersey Teachers Pension & Annuity Fund (TPAF) | New Jersey Police & Firemen's Retirement System (PFRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 51/100 (C) | 55/100 (C)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 48.1% | 58.1%* |
| Total Assets | $28.5B | $30.0B |
| Total Liabilities | $59.3B | $51.6B* |
| Unfunded Liability | $30.8B | $21.6B* |
| Participants | 268,000 | 88,000 |
| 1-Year Investment Return | 4.9% | 5.3%* |
| Plan Type | public | public |
| PBGC Risk Level | high | high |
| Sponsor | State of New Jersey | State of New Jersey |
New Jersey Police & Firemen's Retirement System (PFRS) has a stronger Pension Health Score of 55/100 (C) compared to New Jersey Teachers Pension & Annuity Fund (TPAF) at 51/100 (C). Funding ratios differ by 10.0 percentage points (58.1% vs 48.1%). New Jersey Police & Firemen's Retirement System (PFRS) covers 88,000 participants.
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