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The Alternate Benefit Program (ABP) is a defined contribution plan where retirement benefits are based on investment earnings.
5% of base salary made on a pretax basis
8% employer match of employees’ base salary up to an annual salary of $141,000 ($11,280) based on the state of NJ regulation
Immediate or one-year delayed vesting
A new employee who already owns a retirement contract containing employer and employee contributions due to higher education employment or a new employee who is an active or vested member of another state-administered retirement system in the U.S. is considered vested.
Complete the following forms:
Please return the completed forms to your Human Resources department
If you are contemplating retirement within the next 6 months, consider attending a retirement seminar. You can enroll online by selecting the "Employee Work-Life" option.