Steve Andrews

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N.J. State Pension Fund has lost over $6 Billion since the end of 2021

Anyone who has a 401k or I.R.A. has seen their money rapidly disappearing over the last 6 months. Wall Street does not like inflation and investors fear a recession is next. New Jersey's Employee pension fund invests in stocks too. Now we know how hard the declines on Wall Street have hit New Jersey's pension investments. At the end of last year the total market value was close to $100 billion. As of the end of June the total market value had dropped to $91.5 Billion. A 6 percent loss so far this year. The pension fund supports about 800,000 retired public employees in New Jersey. Their checks won't go down because the fund has lost so much money. But what taxpayers have to contribute to the fund out of the state budget could very well go up.

Source: NJ.COM

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Photo: Getty Images


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