The news that the current value of New Jersey's pension fund had fallen to $62 billion by the end of October means the system has reached a 10-year low point. It is now at its lowest value of any time since 1998, falling below its $62.2 billion value in 2003.
A chart on the state Division of Investments page shows the system's fluctuating history. Boosted by three consecutive years of double-digit investment returns, the fund rose up to a high of $82.6 billion in 2000, only to lose much of the gains by 2003. The investments rose back up to a similar peak last year, only to plummet again since July 1 of 2007.
The chart at the bottom of this page shows the history of the pension fund's value: http://www.state.nj.us/treasury/doinvest/history4.html
Our story today detailed some of the latest losses and other problems that have struck the state's pension system.
http://www.philly.com/inquirer/local/20081125_N_J__lawmakers_fret_over_pension-fund_losses.html
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