New Jersey Police & Firemen Retirement System
public plan · State of New Jersey · Trenton, NJ
Funding History
What This Means for You
New Jersey Police & Firemen Retirement System is significantly underfunded at 57%, with $22.5B in unfunded liabilities affecting 91,678 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $30.2B | $52.7B | 57.3% | $2.5B |
| 2024 | $30.2B | $51.1B | 59.0% | $2.3B |
| 2023 | $28.0B | $46.7B | 60.0% | $2.6B |
| 2022 | $26.9B | $46.5B | 57.8% | $2.6B |
| 2021 | $26.3B | $39.4B | 66.8% | $1.8B |
Frequently Asked Questions
New Jersey Police & Firemen Retirement System is 57% funded, meaning it has 57 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
New Jersey Police & Firemen Retirement System has 91,678 total participants, including 33,628 active employees and 58,050 retirees currently receiving benefits.
New Jersey Police & Firemen Retirement System is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.