Unfunded Liability of Public-Employee Pension System Closes in on $50 Billion

Credit: Tim Larsen/Governor’s Office New actuarial calculations for New Jersey’s beleaguered public-employee pension system show an unfunded liability of near $50 billion, a staggering number for a retirement plan that’s been set up to cover roughly 780,000 current and retired government workers. But many financial experts believe the pension system’s funding problem is potentially much worse,…