According to the New Jersey state website, through December 2019 there were 352,416 retirees getting annualized pensions of $11,675,297,749, while through June 2020 there were 348,556 retirees getting annualized pensions of $11,663,052,220. That drop (3,860 in the number of retirees and $12,245,529 in total annualized payouts) would have been the first ever over a six-month period. So what happened in those six months?
Having done these retiree spreadsheets, which include Year of Birth and Retirement Date, going back to June 2018 it was easy enough to follow the progression through June 2019, December 2019, and June 2020 of those born before 1950:
After taking into account those new retirees who came in during the period, you have more retirees over 70 being deleted between the 12/19 and 6/20 six-month period (8,853) than were deleted during the full year between 6/18 and 6/19 (7,567).
Also, there were only 408 new retirees getting annualized pensions of $15,518,521 retiring as of May, 2020, the fewest and lowest for any month since December 2009 even after taking into account that the listings exclude those who died since the month they retired.
Something else to note from this summary is that July has by far the most new retirees with teachers starting benefits and accounting for about 40% of annual retirements with July 2010 (after the Christie reforms) being by far the biggest month retirements ever.
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