The Public Pension System is Failing and it won’t be long until it’s totally collapsed on every level and there is simply no funds left to ascertain the monthly pension payments of retirees. The government is not only not contributing to these funds on current levels, but has failed to do their part on paying back money on a loan that they once borrowed
And negated their promise
To pay back. The 1.2% Return, yes you read that correctly ,
The 1.2% investment Return on the billions of dollars they have taken from employees is not only unsustainable in regards to keeping the pension funded, but absolutely ridiculous in regards to a percent return on
Your investment. If you were working as a asset manager for a large hedge fund and returned a 1.2% gain on your
Investors money you would surely be fired immediately .
New Jersey’s public worker pension shortfall continued to grow last year, adding nearly $3 billion in unfunded liabilities to one of the worst-funded systems in the country.
As of July 1, 2020, the seven pension funds that make up the pension system had enough assets to cover just 58% of what they owe to active and retired state and local government workers, according to new Treasury Department reports.
The gap between the total assets, $103.5 billion, and liabilities, $178.4 billion, was $74.9 billion at the beginning this fiscal year. That’s more than $2.9 billion, or 4%, higher than the year before. A year earlier, the system had $102 billion in assets and $174 billion in liabilities — a shortfall of about $72 billion.
Pensions are funded through employer contributions, employee contributions and investment returns. Low investment returns and insufficient funding from the state chipped away at the funding ratio last year.
Between July 1, 2019 and June 30, 2020, which the state’s investment director described as a “challenging global economic and investment environment,” the pension fund generated a 1.2% return, far short of its long-range target.
1 BLAZAR = 0.00002$ 12-1-2021 ~ 12-15-2021
1 BLAZAR = 0.00004$ 12-16-2021~12-31-2021
1 BLAZAR= 0.0005 1-1-2022~1-30-2022
1 BLAZAR= 0.005 2-1-22 until 02-21-22
Enables one to save for their future in a high yielding, secure fund with multiple revenue streams that all flow back in a circle to keep building onto the initial liquidity pool.
This timeline details our funding and development goals.
John De Salvo