• HOME :
  • NEWS :
  • “THIS IS MADNESS”: NEW JERSEY RAISES EXPECTED PENSION FUND RETURN TO 7.5%

“This is madness”: New Jersey raises expected pension fund return to 7.5%

MARCH 5, 2018 | by Tyler Durden | ZERO HEDGE

“The accounting switch to a higher assumed rate means that the state, and participating local governments in New Jersey, will for now escape the higher costs that arise when investment return assumptions are lowered. This accounting sleight of hand comes at a 'fortuitous time' for new New Jersey Governor Phil Murphy, who took office in January and is facing a major funding shortfall ahead of his first budget proposal in mid-March.”

VIEW LESS