Plan Overview and Eligibility

This program provides employer contributions to the ABP retirement plan for Rutgers employees who have earned in excess of the $141,000 compensation limit.  It is not available at this time to individuals employed in legacy-UMDNJ positions.

Plan Background and History

State pension law provides for a 5% employee contribution and an 8% employer contribution to the mandatory 401(a) Alternate Benefits Program (ABP), up to the Federal IRC annual compensation limit (currently $270,000).  On July 1, 2010, Governor Christie signed Chapter 31, P.L. 2010 into law, which only allowed employer contributions to the 401(a) ABP on salaries up to $141,000.  In response to the State-imposed limit, Rutgers University established the Alternate Benefits Program Plan and Trust.  Through this program, Rutgers University continues to make the full 8% employer ABP contributions for salaries in excess of $141,000, up to the Federal IRC annual compensation limit of $270,000.

How to Enroll

Eligible employees in Rutgers positions with salaries in excess of $141,000 are automatically enrolled in the Plan.  This plan is administered by TIAA.  For more information, call TIAA at (800) 842-8412.