Governor Phil Murphy declared that New Jersey will enter a state of emergency beginning Wednesday, February 20, 2019 at 5:00 a.m. ahead of the anticipated winter storm.
TRENTON —The Department of the Treasury’s Division of Investment (DOI) today announced that the final, unaudited net return for New Jersey’s Pension Fund was 9.06 percent for fiscal year 2018, exceeding both the benchmark return of 8.65 percent and the 7.5 percent statutory assumed rate of return.
“This is certainly welcome news for both the State and local governments, and most importantly, public employees,” said Treasurer Elizabeth Maher Muoio. “I want to commend our team at the Division of Investment for their due diligence and their commitment to upholding their fiduciary responsibility.”
The FY18 return boosted the total unaudited market value of the Pension Fund to an estimated $78.2 billion. This strong performance, coupled with the state’s scheduled pension contribution of a record $3.2 billion for FY19, will lend additional strength to New Jersey’s Pension Fund.
“This is certainly positive news and we are encouraged by the overall returns for the past fiscal year,” said Corey Amon, Acting Director of the Division of Investment. “We remain focused on our fiduciary duty to the nearly 800,000 pension beneficiaries.”
DOI also noted that there was a positive return across nearly all of New Jersey’s asset classes, with the strongest performances coming from Private Equity, U.S. Equities, Real Estate, Real Assets and Global Diversified Credit.