New Jersey Police & Firemen finalize transfer of assets from NJ DOI

The Police and Firemen's Retirement System of New Jersey (PFRSNJ) has announced it has finalized the transfer of assets from the New Jersey Division of Investment, the last step in the process to become an independently managed public pension system. PFRSNJ is the nation’s largest police and fire pension plan with a value of approximately $32 billion.

“For the last decade, we have been fighting to protect the pensions of the brave men and women that serve as police officers and firefighters in New Jersey, and the final transfer of assets marks the culmination of those efforts,” said Ed Donnelly, PFRSNJ chairman. “This is a seminal moment for our members who have rightly demanded that the pension system they pay into is transparent, accountable, conflict-free, and high-performing. That is how the PFRSNJ is built to operate, a member-first pension system.”

PFRSNJ previously selected NEPC to serve as general investment consultant, Aksia to s