Compensation Strategies Group, Ltd.
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|New Jersey Increases Pension Contribution by 44%|
Chief Investment Officer [CIO]
June 25, 2021
"The New Jersey budget for fiscal year 2022, which the state legislature just passed, calls for a $6.9 billion pension payment, up about 44% over the previous year. State lawmakers increased the amount that Governor Phil Murphy proposed thanks to the surge in tax collections, plus federal stimulus money. The state has long had one of the nation's worst pension shortfalls."
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