New Jersey removes salary cap for state pension fund CIO

Jul 7, 2021 · New Jersey swiftly enacted a law that removed the $200,000 salary cap imposed on the state's director of the division of investment, who serves as CIO for the New Jersey Pension Fund, Trenton.

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New Jersey Removes Salary Cap For State Pension Fund CIO

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NJ Ends Salary Cap For Job Running Its $93 Billion Pension Fund

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Instead of setting a new limit, the new law now leaves it up to the treasurer to “determine the salary for the Director of the Division of Investment.” The investment council is taking the lead in the search to find a permanent replacement for Amon and will eventually present a list of candidates to the treasurer for her to make a final selection, ...

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NJ Division Of Investment Appears Close To Getting New CIO

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May 3, 2022 · The director oversees the unit that manages investments for the $85.8 billion New Jersey Pension Fund. Lawmakers last year took steps to make the role more attractive, …

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New Jersey Bill Lifts $200K Cap From Division Director Role

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Jul 6, 2021 · A new bill seeks to make New Jersey’s system more competitive, at least at the highest level, by eliminating the salary cap on the director of the investment division role, …

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Official Site Of The State Of New Jersey - The Official Web Site For ...

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Oct 31, 2024 · New Jersey’s Pension Fund Reports 10.74% Returns for FY2024 (TRENTON) - New Jersey’s Pension Fund generated a final, unaudited return of 10.74% for the 12-month …

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Pension Fees A Losing Investment For NJ - NJ AFL-CIO

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The $1.5 billion in fees the state of New Jersey paid to Wall Street pension fund managers over the past five years was an unwise use of taxpayer money, concludes a nationally known …

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N.J. Governor To Seek 100% State Contribution For State Pension …

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Jan 29, 2025 · N.J. Gov Phil Murphy will request a 100% state payment to the New Jersey Pension Fund, Trenton, in his budget proposal for the fiscal year starting July 1.

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S&P Global Ratings Raises Outlook On New Jersey - Pensions

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Aug 4, 2021 · On July 1, the first day of the current fiscal year, New Jersey paid most of its fiscal year 2022 contribution to the state's pension system in a $5.8 billion lump sum, rather than …

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FAQs about New Jersey removes salary cap for state pension fund CIO Coupon?

Does New Jersey have a pension fund?

New Jersey has a pension fund covering the retirement funds for an estimated 800,000 current and retired workers. The Division of Investment, working under the supervision of the State Investment Council, is one of the nation’s largest pension-fund managers. Khan joined the Division of Investment as deputy director in January 2021. ...

What did New Jersey state investment council chair Deepak Raj say?

New Jersey State Investment council chair Deepak Raj praised the promotion of the pension fund director, stating, "I look forward to continuing to work with him to meet our investment objectives for the benefit of hardworking public employee retirees." He cited the director's handling of the pension fund throughout the pandemic. ...

Does New Jersey's public-worker pension fund have good investment returns?

Strong investment returns have bolstered the bottom line for New Jersey’s public-worker pension fund in recent months. According to the latest preliminary estimates, net investment returns were running near 9% through the end of the third quarter of the current fiscal year, which ends June 30. ...

Is New Jersey's public pension system underfunded?

New Jersey's public pension system remains seriously underfunded even as the state increases its contributions to support it. ...

Where can I find information about the NJ state employees deferred compensation plan?

Other information about the plan is available by writing to: New Jersey Division of Pensions & Benefits, New Jersey State Em-ployees Deferred Compensation Plan, P.O. Box 295, Trenton, NJ 08625-0295. ...

Who is responsible for the retirement system in New Jersey?

The State of New Jersey established the PERS in 1955 to replace the former State Employees’ Retirement System . The NJDPB is assigned all administrative functions of the retirement system except for invest-ment. The PERS Board of Trustees has the responsibility for the proper operation of the retirement system. The Board consists of: ...