The New Jersey Treasury Department offered mixed news about the state's pension system.

On the one hand, the department reported that the funded ratio of the state's pension system fell to 56.7% at July 1, 2012 from 60.8% at July 1, 2011. New Jersey's fiscal year begins July 1. The total market value of the pension system fell to $38.3 billion from $40.8 billion.

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