STATE OF NEW JERSEY PUBLIC EMPLOYEES …

STATE OF NEW JERSEY PUBLIC EMPLOYEES' RETIREMENT SYSTEM

Schedule of Employer Allocations and Schedule of Pension Amounts by Employer

June 30, 2017

(With Independent Auditors' Report Thereon)

STATE OF NEW JERSEY PUBLIC EMPLOYEES' RETIREMENT SYSTEM

Table of Contents

Independent Auditors' Report Schedule of Employer Allocations Schedule of Pension Amounts by Employer Notes to Schedule of Employer Allocations and Schedule of Pension Amounts by Employer

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36 78

KPMG LLP New Jersey Headquarters 51 John F. Kennedy Parkway Short Hills, NJ 07078-2702

Independent Auditors' Report

The Treasurer State of New Jersey:

We have audited the accompanying schedule of employer allocations of the State of New Jersey Public Employees' Retirement System as of and for the year ended June 30, 2017, and the related notes. We have also audited the total for all entities of the columns titled net pension liability, total deferred outflows of resources, total deferred inflows of resources, and total pension expense (specified column totals) included in the accompanying schedule of pension amounts by employer of the State of New Jersey Public Employees' Retirement System as of and for the year ended June 30, 2017, and the related notes.

Management's Responsibility for the Schedules Management is responsible for the preparation and fair presentation of these schedules in accordance with U.S. generally accepted accounting principles; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the schedules that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility Our responsibility is to express opinions on the schedule of employer allocations and the specified column totals included in the schedule of pension amounts by employer based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the schedule of employer allocations and specified column totals included in the schedule of pension amounts by employer are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the schedule of employer allocations and specified column totals included in the schedule of pension amounts by employer. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the schedule of employer allocations and specified column totals included in the schedule of pension amounts by employer, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the schedule of employer allocations and specified column totals included in the schedule of pension amounts by employer in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the schedule of employer allocations and specified column totals included in the schedule of pension amounts by employer.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

KPMG LLP is a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.

Opinions In our opinion, the schedules referred to above present fairly, in all material respects, the employer allocations and net pension liability, total deferred outflows of resources, total deferred inflows of resources, and total pension expense for the total of all participating entities for the State of New Jersey Public Employees' Retirement System as of and for the year ended June 30, 2017 in accordance with U.S. generally accepted accounting principles. Other Matters We have audited, in accordance with auditing standards generally accepted in the United States of America, the financial statements of the State of New Jersey, Division of Pensions and Benefits, which includes the Public Employees' Retirement System, as of and for the year ended June 30, 2017, and our report thereon, dated March 29, 2018, expressed an unmodified opinion on those financial statements. Restriction on Use Our report is intended solely for the information and use of the State of New Jersey, Division of Pensions and Benefits management, the Treasurer of the State of New Jersey, the State of New Jersey Public Employees' Retirement System employers, and their auditors, and is not intended to be and should not be used by anyone other than these specified parties.

Short Hills, New Jersey April 27, 2018

2

Employer

STATE OF NEW JERSEY DIVISION OF PENSIONS AND BENEFITS PUBLIC EMPLOYEE'S RETIREMENT SYSTEM

Schedule of Employer Allocations

As of and for the year ended June 30, 2017

Employer number

County

Employer contributions

Allocation percentage

State Group: State of New Jersey New Jersey State Library New Jersey City University Kean University Montclair State University New Jersey Institute of Technology Ramapo State College Richard Stockton College Rowan University Rutgers Biomedical Rutgers, The State University of New Jersey The College of New Jersey Thomas A. Edison State University University Hospital William Paterson University

Total State Group

Local Group: Bayshore Jointure Commission Bayshore Reg Sewerage Authority Beloved Community Charter School Bejamin Banneker Prep Charter School Camden Comm Charter School Cape Atl Soil Consrvtn Dist Casino Reinvestment Devel Auth City Invincible Charter School Compass Academy Charter School Compensation Rating & Ins Bur Delaware River Basin Comm Delaware River Jt Toll Brg Com Essex Regional Health Commissio Hope Community Charter School Jersey City Global Charter School Joint Meeting Essex & Union Co Knowledge A to Z Charter School Lake Hopatcong Commission Landis Sewerage Authority Manasquan River Reg Sew Auth Merchantvl Pennsken Wtr Comm Merit Prep Charter School Monmouth Ocean Ed Serv Comm Morris-Union Jointure Comm Newark Prep Charter School NJ Assoc Of Counties NJ Building Authority NJ Economic Dev Authority NJ Educational Facilities Auth NJ Firemens Home

401 411 412 414 32700 & 55530 420 421 410 497 & 498 90010 415 430 901 413

41400 31500 52400 52500 53700 32420 34730 52800 54000 39990 30730 34680 31200 53900 54100 30040 51900 40800 30180 32000 30190 52700 33020 34540 52300 31310 39900 32150 55870 79100

3

$

459,187,047

682,181

3,172,839

2,967,057

3,897,444

2,742,934

1,997,320

3,920,545

6,216,413

15,160,518

20,678,082

3,212,208

930,951

11,393,721

3,379,130

539,538,390

85.1073909680% 0.1264378981% 0.5880654757% 0.5499250943% 0.7223663918% 0.5083853255% 0.3701905253% 0.7266480148% 1.1521725081% 2.8099053341% 3.8325506365% 0.5953622688% 0.1725458313% 2.1117535306% 0.6263001971%

100.0000000000%

81,196 290,654 144,300

21,606 69,050 42,638 526,514

-- 20,436 925,062 360,993 93,442 69,396 22,367 26,304 1,152,661 14,753

-- 389,090 107,543 262,331

55,904 435,925 1,271,604

99,526 41,513 34,582 2,194,698 176,789 337,339

0.0087647448% 0.0313747985% 0.0155765392% 0.0023322710% 0.0074536385% 0.0046025813% 0.0568348299%

--% 0.0022059747% 0.0998563028% 0.0389675787% 0.0100866457% 0.0074909876% 0.0024144175% 0.0028393991% 0.1244245962% 0.0015925203%

--% 0.0420005241% 0.0116087855% 0.0283174574% 0.0060345866% 0.0470561528% 0.1372639608% 0.0107433863% 0.0044811426% 0.0037329721% 0.2369078268% 0.0190835813% 0.0364142353%

(Continued)

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