Newark Fire & Rescue Pension Fund
public plan · City of Newark · Newark, NJ
ACTIVE
D
Pension Health Score
43/100
Funding Status63% Funded
0%80% threshold100%
$838.1M
Total Assets
$1.3B
Total Liabilities
$494.8M
Unfunded Liability
7,574
Participants
Funding History
What This Means for You
Newark Fire & Rescue Pension Fund is significantly underfunded at 63%, with $494.8M in unfunded liabilities affecting 7,574 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $838.1M | $1.3B | 62.9% | $32.0M |
| 2024 | $824.6M | $1.4B | 58.6% | $34.9M |
| 2023 | $765.9M | $1.2B | 61.9% | $30.1M |
| 2022 | $755.7M | $1.4B | 55.9% | $35.1M |
| 2021 | $694.4M | $999.1M | 69.5% | $27.5M |