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The Alternate Benefit Program (ABP) is a 401a tax-sheltered, defined contribution retirement program for higher education faculty and certain administrators. ABP provides retirement benefits, life insurance and long-term disability coverage, which, when combined with Social Security and other tax-deferred plans, can provide security in retirement.

ÀÏ˾»ú¸£ÀûÉç employees eligible for membership include:  Full or part-time faculty, NTTPs, adjuncts teaching a minimum of three credit hours, AFT professional staff, and managers are required to participate in the ABP.

ÀÏ˾»ú¸£ÀûÉç employees NOT eligible for membership include:  temporary employees (with the exception of visiting professors appointed for a school year, a semester, or a lesser period of time); faculty members temporarily in the U.S. under an F or J visa; employees in a career service title defined by the New Jersey Civil Service Commission; employees in clerical and other nonprofessional positions; and any employee receiving a retirement benefit from any New Jersey State-administered retirement system including the ABP.

Members annually contribute 5% of base or contractual salary matched by an 8% employer contribution to a tax-deferred investment account. This account may be established with any of the current authorized providers. Employees enrolling in ABP must select an authorized investment provider to establish their retirement account. A detailed description of the investment options available to you is provided in the available from the Human Resources Office or the Division of Pensions and Benefits.  New employees should notify the Benefits department of their investment carrier selection within their first week of employment.

Most ABP members are vested after 12 months of continuous employment. Once a member is vested, any withdrawal or rollover of funds would constitute a "retirement" from the state of New Jersey and they would be ineligible to participate in any NJ state pension or retirement system if they return to NJ public employment.

For more detailed information about the ABP, please see

LIFE INSURANCE
(ACTIVE MEMBERS)

Employer-paid group life insurance is provided for all eligible members. No medical examination is required unless the member has attained the age of 60 prior to enrollment. Coverage equals 3.5 times the member's final salary.

Upon enrollment, employees should immediately complete the Designation of Beneficiary form and submit it to the Division of Pensions & Benefits. Until the form is received, the employee's "estate" would be designated as the beneficiary.

RESOURCES

• ABP Carrier Contact Information
• Forms related to ABP

The Public Employees' Retirement System (PERS) is a defined benefit pension system along with life insurance and disability coverage.

ÀÏ˾»ú¸£ÀûÉç employees eligible for membership include: full-time classified CWA and IFPTE employees. New employees hired into an ABP-eligible position that have an active PERS account may be able to waive their right to ABP and transfer their PERS account to ÀÏ˾»ú¸£ÀûÉç. Enrollment in PERS is effective upon the date of permanent appointment.

ÀÏ˾»ú¸£ÀûÉç employees NOT eligible for membership include: temporary and seasonal employees; faculty, AFT professional staff, managers (except in certain circumstances listed above), and any employee receiving a retirement benefit from any New Jersey State-administered retirement system including PERS.

Members annually contribute 7.5% of base salary for pension contribution and .50% for life insurance contribution. PERS members are vested after 10 years of service.

LIFE INSURANCE

Group life insurance is provided for all eligible members. No medical examination is required unless the member has attained the age of 60 prior to enrollment. With both contributory and non-contributory insurance, coverage equals 3.0 times the member's final salary.

Upon enrollment, employees should immediately login to MyNewJersey account and access Member Benefits Online (MBOS) to complete designation of beneficiary information. Until the beneficiary is updated through MBOS, the employee's "estate" would be designated as the beneficiary.

RESOURCES

• All changes and information updates for PERS must go through via a

The Police and Firemen's Retirement System (PFRS) is a defined benefit pension system along with life insurance and disability coverage.

ÀÏ˾»ú¸£ÀûÉç employees eligible for membership include: campus police officers, sergeants and lieutenants. Eligibility in the PFRS is determined by your job title, your age, your health, and successful completion of approved training courses. Once all eligibility requirements are met, members are enrolled upon date of permanent appointment.

Members annually contribute 10% of base salary for pension contribution. PFRS members are vested after 10 years of service.

LIFE INSURANCE

Employer-paid group life insurance is provided for all eligible members. Coverage equals 3.5 times the member's final salary.

Upon enrollment, employees should immediately login to MyNewJersey account and access Member Benefits Online (MBOS) to complete designation of beneficiary information. Until the beneficiary is updated through MBOS, the employee's "estate" would be designated as the beneficiary.

RESOURCES

• All changes and information updates for PFRS must go through via a

The Defined Contribution Retirement Program (DCRP) provides eligible members with a tax-sheltered, defined contribution retirement benefit, along with life insurance and disability coverage.  The Defined Contribution Retirement Program Board oversees the DCRP, which is administered for the Division of Pensions and Benefits by .

ÀÏ˾»ú¸£ÀûÉç employees eligible for membership include:  permanent, part-time classified employees working less than 35 hours per week and employees enrolled in the Public Employees' Retirement System (PERS) after May 21, 2010, who earn salary in excess of established "maximum compensation" limits.

ÀÏ˾»ú¸£ÀûÉç employees NOT eligible for membership include:  temporary employees; adjunct faculty; full-time employees (unless subject to PERS salary thresholds); and any employee receiving a retirement benefit from any New Jersey State-administered retirement system including the DCRP.

Members annually contribute 5.5% of base or contractual salary matched by an 3% employer contribution to a tax-deferred investment account through .

Most DCRP members are vested after 12 months of continuous employment. Once a member is vested, any withdrawal or rollover of funds would constitute a "retirement" from the state of New Jersey and they would be ineligible to participate in any NJ state pension or retirement system if they return to NJ public employment.

For more detailed information about the DCRP, please see .

LIFE INSURANCE
(ACTIVE MEMBERS)

Employer-paid group life insurance is provided for all eligible members. No medical examination is required unless the member has attained the age of 60 prior to enrollment. Coverage equals 1.5 times the member's final salary.

Upon enrollment, employees should immediately complete the Designation of Beneficiary form and submit it to the Division of Pensions & Benefits. Until the form is received, the employee's "estate" would be designated as the beneficiary.

RESOURCES

• Forms related to DCRP

The Additional Contributions Tax-Sheltered (ACTS) Program allows for eligible employees to invest in supplemental tax-deferred annuities with one of the state-authorized investment carriers through a salary reduction agreement.  Each provider provides a selection of investment choices to meet the needs and goals of retirement planning. This voluntary retirement plan is separate from, and in addition to your mandatory retirement plans (ABP, PERS, PFRS, DCRP).

ELIGIBILITY CRITERIA
All full-time, part-time, and TES employees of the University are eligible to participate in the ACTS Program. Participation is also open to those employees who are now receiving retirement allowances from a state pension system and who would otherwise be ineligible for the mandatory retirement/pension plans.

RESOURCES

• Salary Reduction Agreement

The New Jersey State Employees Deferred Compensation Plan (NJSEDCP) is a voluntary investment program that provides you retirement income separate from and in addition to your basic retirement/pension plan. Contributions to the plan can be contributed on a pre-tax or post-tax (Roth) basis.

ELIGIBILITY CRITERIA
All full-time, part-time, and TES employees of the University are eligible to participate in the NJSEDCP.

RESOURCES