US - The unfunded liability of the Teachers' Pension and Annuity Fund in New Jersey (TPAF) has increased by £3bn to $15.09bn as of June 30 2008, according to its annual valuation report.
The $15.09bn figure shows the difference between the actuarial value of the assets at $36.6bn and the accrued liability of $51.7bn, as of June 30 2008. The funded ratio is at 70.8%. However, the...
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