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New Jersey pension funds rise 6.3% before payouts to start 2012
New Jersey’s pension-fund assets increased 6.3 percent before payouts in the first two months of the year, helped by stock gains, according to the state’s investment division.
After payments to beneficiaries, excluding those in the police and firefighter plans, the value rose 4.9 percent from Dec. 31 to $70.5 billion, the division said in a report presented today to the State Investment Council.
“It was definitely a stock-pickers’ market for the first two months of the year,” Timothy Walsh, director of the Division of Investment, said at a meeting in Trenton. (Young, Bloomberg)
