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Division of Investment

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Welcome to the Division of Investment

The Division, under the Council’s supervision, is one of the largest U.S. pension fund managers in the United States. The Pension Fund supports the retirement plans of over 815,000 members in seven public pension systems: the Consolidated Police & Firemen’s Pension Fund, the Judicial Retirement System, the Police & Firemen’s Retirement System, the Prison Officers’ Pension Fund, the Public Employees’ Retirement System, the State Police Retirement System and the Teachers’ Pension & Annuity Fund (collectively referred to in this report as the “Pension Fund”). The net asset value of the Pension Fund assets managed by the Division was $95.1 billion as of December 31, 2023 . The Division also manages the State of New Jersey Cash Management Fund, Supplemental Annuity Collective Trust (a 403b plan), a portion of the NJBEST Fund (a 529 college savings plan) as well as several funds under the New Jersey State Employees Deferred Compensation Plan (a 457 plan).

Shoaib Khan, Director

Physical Location & Courier Mail Address:
50 West State Street,
9th Floor
Trenton, NJ 08608-0290

USPS Mail Address:
PO Box 290
Trenton, NJ 08625-0290


$95.1 Billion

(Market value, unaudited, as of 12/31/2023. May not reflect the current market values of some alternative investments through the period noted, due to lags in reporting under industry standards.)


Cash Management Fund
Rate of Return

Cash Management Fund
Rate of Return
  State Other-than-State
Annualized Monthly Rate for January, 2024 5.38 5.32
Annualized Monthly Rate for December, 2023 5.40 5.34
Annualized Monthly Rate for November, 2023 5.41 5.35

If you need assistance or have questions, please email

Past Cash Management Fund Rates

Last Updated: Monday, 02/05/24