The pensions of state government workers have dropped like a stone along with the rest of the market and have little prospects for significant growth in this era.
Haven’t heard too much about this yet, but I imagine we will.
The NJ numbers while big aren't really out of line for crash like we have had. The S&P 500 is down 50% while the NJ pension fund is down 30%.
The biggest problem these state pension funds have is the state coming in and borrowing on what is left and paying it back with crappy bond issues..