From the Star Ledger:
N.J. public worker pension investments fall short
New Jersey’s government-worker pension fund investments fell short in the fiscal year that ended in June.
The pension fund returned 6.27 percent, trailing the 7.5 percent the pension system assumes it will earn on investments over the long term.
…
The public pension fund is among the worst-funded in the U.S. but has been improving as the state increases how much money it contributes each year. Investment earnings play a big role in the health of the fund, as well.
Investment-grade credit and real estate were “bright spots” in the performance of the pension fund’s portfolio last year, Division of Investment Director Corey Amon told the State Investment Council Wednesday. Investment-grade credit returned more than 10 percent and real estate was up 8.7 percent, according to Division of Investment reports.
Private equity, part of the state’s alternative investment program, returned 10 percent. It has in recent years been the fund’s best-performing asset class.
U.S. equities were up 7.85 percent but suffered somewhat because the pension fund’s U.S. equities portfolio focused on small cap stocks, which underperformed, and value stocks while holding fewer growth stocks that actually did better than expected, Amon said.
…
Shortly before leaving office, Gov. Chris Christie lowered the assumed rate of return from 7.65 percent to 7 percent. Gov. Phil Murphy reversed course, citing the hardship that placed on the state and local governments, which would have had to come up with another $700 million in pension contributions.
Murphy set the assumed rate of return at 7.5 percent, putting in place a plan to gradually reduce it to 7.0 percent in 2023.
Good Morning New Jersey
Just say it ……Murphy blows !
Not like McGreevy though…..
Been watching house in and out of foreclosure and bankruptcy for about 10 years and bluewater incestment holdings just bought the mortgage. The homeowner didn’t qualify for bankruptcy in May and I thought they would be back in foreclosure this fall. Does anyone know what this means do they have to pay what they owe in arrears leans….?
McGreevy would said that if you are in arrears, meet him at the rest area at midnight.
Trump was asking the new president of Ukraine to help AG Barr investigate crowdstrike by providing a server they were in posession of. That’s why Democrats are freaking out. It’s also likely why they classified the transcript.
leftwing says:
September 25, 2019 at 4:05 pm
Everyone knows and acknowledges trump won’t be impeached. That’s the JV field.
Varsity State Champs is what the Left wing is playing here, pushing Pelosi into impeachment proceedings to benefit Warren.
You got up at 5:41AM to say that?
ExEssex says:
September 26, 2019 at 8:41 am
Not like McGreevy though…..
That must be the one of the most craven companies in all of New Jersey….. to make a business out of it….. yikes!
Confused says:
September 26, 2019 at 9:07 am
Been watching house in and out of foreclosure and bankruptcy for about 10 years and bluewater incestment holdings just bought the mortgage.
‘Trump goes ahead and implicates Pence.’
Probably a warning shot to the GOP: I go down, will take Pence with me.
Bag,
This whole thing looks like a political play to push Warren into Dem nomination while pushing Pence out to get Nikki Haley as VP. Seems like he may want secure more white women voters in Midwest which helped get those states in 2016. He know lib women will be out against him in full force.
11:59 I had to pee!!
Dedicated to the POTUS
https://youtu.be/qD-5DzzGFDU
Let’s not get into what people are doing while posting. We all know Blumpy has one hand on his pud while breezing through The Economist. Only first two pages stick together.
That was for you, Ex.
I watched the Adam Schiff portion of the questioning of the Intel Chief… epic, f.ucking fail!! Schiff kept giving his opinion and kept asking Maguire for his opinion. It’s all hearsay of nothing based on nothing. What a load of sh1t. Another fake crisis whipped up. Omg, I can’t imagine the meltdown if Trump wins in 2020!
Adam Schiff is a cunt!!
I took my little girlie car out today was niiiiice.
My mechanics got that thing dialed in.
Well there’s a white man
Looks like Ben Franklin
Drivin like a New England foooool
He a fambly man
With a farmers tan
It’s been decades since he seen his ooooown toooool.
Hello. And Bye.
Apologies for opening this morning with politics – i promised myself i would stop and made it through yesterday – but this can’t wait….
In the category of the Dems just don’t get it they rolled out a very special guest on cbs national news, second segment no less, to give a somber analysis of whether trump should be impeached and the obligations of an administration under the Constitution…
Hillary Clinton.
Yup, that Hillary Clinton. Seriously can not make this stuff up.
Keep it up dems. You may even hit the ultimate long shot, give the house back
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