Tag Archives: early retirement incentive

Long Term Pension Data for New York And New Jersey to 2016: The Large Plans for Most Public Employees (With Commentary on Hedge Funds)

New York City and New Jersey, like most places, have separate pension plans for teachers, police officers, and firefighters, and large general pension plans for all other public employees combined. This post is about updated Census Bureau data, for the years 1957 to 2016, for the general pension plans: the New York City Employees Retirement System (NYCERS), which also covers New York City transit workers, the New York (state) Public Employees Pension and Retirement System, which also covers local government workers (including police officers and firefighters) in the rest of New York State, and the New Jersey Public Employees Retirement System, which covers most public employees in New Jersey. In general the findings are the same as they were the last time I analyzed this data.

https://larrylittlefield.wordpress.com/2014/07/20/updated-long-term-pension-data-for-new-york-and-new-jersey-the-large-plans-for-most-public-employees/

It has been a few years, however, so I have decided to repeat the analysis and update the charts below, and add a further discussion on hedge funds and the rate of return at the end. The data shows a pension disaster not only for New Jersey, where taxpayers have contributed very little over the years, but also for New York City, where taxes are high and taxpayers have contributed massively. The New York State system is in somewhat better shape – but in much worse shape than a decade ago.

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Updated Long Term Pension Data for New York And New Jersey: The Large Plans for Most Public Employees

Note, I recently posted an updated analysis of Census Bureau data through 2016 here.

https://larrylittlefield.wordpress.com/2017/07/02/long-term-pension-data-for-new-york-and-new-jersey-to-2016-the-large-plans-for-most-public-employees-with-commentary-on-hedge-funds/

Read that one, rather than the one below with data through 2013.

New York City and New Jersey, like most places, have separate pension plans for teachers, police officers, and firefighter, and large plans for everyone else. This post is about updated Census Bureau data, for the years 1957 to 2012, for the New York City Employees Retirement System (NYCERS), which also covers New York City transit workers, the New York (state) Public Employees Pension and Retirement System, which also covers local government workers (including police officers and firefighters) in the rest of New York State, and the New Jersey Public Employees Retirement System.

In general the findings are the same as they were in this post last year, since one year of data isn’t going to make a big difference for something as slow moving and inexorable as pension funding.

https://larrylittlefield.wordpress.com/2013/12/12/pensions-for-non-teachers-a-slightly-different-road-to-ruin-in-new-york-city/

Unless there is a big retroactive pension increase, and its cost is actually admitted to. One big thing that did happen in 2012: there was a huge increase in taxpayer contributions to the New York City Employees Retirement System, balanced by a reduction in contributions to the New York City Teachers Retirement system. And one thing I learned this year: there have been more early retirement incentives in the crippled New Jersey public retirement system than I was previously aware of. Further discussion, and a spreadsheet with a series of charts follow after the break .

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