New Jersey's Public Worker Pension Crisis

In fiscal year 2018/19, New Jersey spent $6 billion for state and local government worker pensions and health benefits. This is expected to rise to $11 billion in 2023, representing 27 percent of the state’s projected budget. The state has unfunded pension and benefits liabilities of $151 billion, the worst in the nation. The NJCPA has endorsed the pension and health benefit reform recommendations in the Path to Progress report issued by the New Jersey Economic and Fiscal Policy Workgroup.