In addition to the many Defined Benefit
Plans, employees have the opportunity to invest additional money
in one or more Defined Contribution Accounts offered through the
Division of Pensions and Benefits.
Membership in a defined contribution
account is in addition to, and will not affect an employee's membership
in the defined benefit plan to which the employee must belong.
Functionally, all contributions made to a supplemental retirement
account will be in addition to regular pension deductions.
Contributions to all the supplemental
retirement accounts discussed here are made through contractually
agreed upon salary reductions. While the contribution rates
to PERS, TPAF, PFRS, SPRS, etc., cannot be changed, any member
may adjust the contribution rate to a supplemental plan by completing
the appropriate form.
Like the defined benefit plans, all
deductions for defined contribution plans are certified by the
Division of Pensions and Benefits. As the local pension
administrator, you cannot begin, end or change contribution rates
without first receiving a "Certification of Payroll Deductions"
from the Division.
To view information about any Defined
Contribution Plan offered by the Division, simply click on the
appropriate link below.
Annuity Collective Trust - Regular (SACT - SA)
Annuity Collective Trust - Tax Sheltered (SACT - TS)
Contributions Tax Sheltered (ACTS)
Jersey State Employees Deferred Compensation Plan (NJSEDCP)*
*Changes in the
Administration of the New Jersey State Employees Deferred Compensation
Plan: On October
25, 2005, the State Treasury and New Jersey State Employers Deferred
Compensation Board announced that Prudential Retirement, a business
of New Jersey-based Prudential Fianancial, has been selected as
the third party administrator for the New Jersey State Employees
Deferred Compensation Plan (NJSEDCP). Because of this upcoming
change in the administration of the NJSEDCP, effective January
1, 2006, some of the information provided below may no longer
be accurate. The Division of Pensions will provide procedural
updates regarding the NJSEDCP as soon as they become available.