The SEC is investigating the New Jersey pension system, according to a statement released today by the state Treasury Departments division of pensions and benefits, which oversees the $81 billion New Jersey State Investment Council, Trenton. The agency contacted the department last month regarding a confidential, informal inquiry into the states pension system.
The SEC has asked for information as part of its fact-finding inquiry, which it is sharing with the United States Attorneys Office for the District of New Jersey, and the division is cooperating fully, said Tom Vincz, a state Treasury spokesman. He declined to comment further.
Both John Nester, SEC spokesman, and Michael Drewniak, spokesman for Christopher Christie, U.S. attorney for New Jersey, declined to comment.
A published report in early April said that fund officials diverted money from the plan for other purposes and overstated its pension contributions.