Employers' Pensions and Benefits Administration Manual (EPBAM)
   

 

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Supplemental Annuity Collective Trust
of New Jersey
Regular - After Tax Plan
( SACT - SA) — Changes


Change or Suspension of Contributions

A member may change or suspend the elected percentage rate of contributions at the beginning of any calendar quarter. All changes (increase or decrease) in the percentage rate of contribution must be made on a Trust Change of Contribution Rate Request Form

The maximum dollar amount that members are permitted to contribute annually in 2010 is $16,500, in accordance with the federal Internal Revenue Code. Contributions are made through payroll deductions.

The member must complete the form and have it certified by the authorized personnel representative. The form must be received by the Division of Pensions and Benefits, SACT Section, 30 days before the beginning of the calendar quarter. Once a change has been processed, the employer will receive confirmation copies of the new certification of payroll deductions. All requests become effective at the start of the next calendar quarter.

 

 

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Last Updated: March 31, 2010