New Jersey Police & Firemen's Retirement System (PFRS)
public plan · State of New Jersey · Trenton, NJ
Funding History
What This Means for You
New Jersey Police & Firemen's Retirement System (PFRS) is 58% funded, which is below the 80% threshold that actuaries consider healthy. The plan has $21.6B in unfunded liabilities that must be addressed through increased contributions, investment returns, or benefit adjustments. Current participants should monitor this plan and consider supplemental retirement savings.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2023 | $30.0B | $51.6B | 58.1% | $2.8B |
| 2022 | $29.1B | $52.0B | 56.0% | $2.7B |
| 2021 | $28.2B | $47.8B | 59.0% | $2.6B |
| 2020 | $27.3B | $51.5B | 53.0% | $2.5B |
| 2019 | $26.4B | $48.0B | 55.0% | $2.5B |
Frequently Asked Questions
New Jersey Police & Firemen's Retirement System (PFRS) is 58% funded, meaning it has 58 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's Retirement System (PFRS) has 88,000 total participants, including 42,000 active employees and 46,000 retirees currently receiving benefits.
New Jersey Police & Firemen's Retirement System (PFRS) 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.