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Study: Big gap looms in N.J.’s pension fund

A report out Wednesday says New Jersey's public pension system is underfunded by $174 billion and should be closed to new state hires, Bloomberg News said.

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A report out Wednesday says New Jersey's public pension system is underfunded by $174 billion and should be closed to new state hires, Bloomberg News said.

The figure in the report from George Mason University's Mercatus Center is more than triple what the state tells investors in bond documents, Bloomberg said.

The Mercatus report, which applies more-conservative investment growth projections for the fund than the state does, comes amid rising public alarm over underfunded public pensions across the nation.    - Inquirer staff