New Jersey’s Financial Crisis
Pension Liability & Postemployment Benefit Obligation
DEFICIT For 15 years, New Jersey revenues have fallen short, only covering 91.3% of total expenses. As a result, the Garden State has the worst deficit in the nation.
EXPENSES As of June 2017, New Jersey’s combined net pension liability & postemployment benefit obligation totaled $151.6 billion.
BOTTOM LINE An NJBIA analysis found that in order to pay off these current obligations, every New Jersey resident would need to write the State a check for $17,018.22.
TIMELY If nothing is done to address the pension liability & postemployment benefit structure, the obligation will rise $4.89 billion by 2023.Download PDF