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New Jersey’s beleaguered pension fund received some good news as it ended its fiscal year in June returning more than 13 per cent, its strongest showing since 2014, writes Samantha Marcus for New Jersey Advance Media.
“For the fiscal year that ended in June, the fund return 13.07 per cent, with the help of strong performance in emerging market equities, domestic equity, non-U.S. developed markets equities, equity-oriented hedge funds and global diversified credit,” she writes.
State documents show that the pension fund received $79 million in July and $102 million in August from the state lottery; in the summer, lawmakers voted to “assign proceeds from lottery ticket sales to the pension fund, a move that guarantees the fund at least $1 billion a year in revenue and dramatically reduces the unfunded liabilities, as measured by the state,” writes Marcus.
More: New law dictates payments be made quarterly.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapensions.ca

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