Plan Overview

The Alternate Benefit Program (ABP) is a defined contribution plan where retirement benefits are based on investment earnings.

Eligibility

  • Regularly appointed faculty
  • Visiting professors
  • Part-time lecturers
  • Managerial, Professional, Supervisory, Confidential and Administrative staff
  • Employees holding "F" or "J" visas are not eligible to enroll.

 

Employee Contribution

5% of base salary made on a pretax basis

Employer Contribution

8% employer match of employees’ base salary up to an annual salary of $141,000 ($11,280) based on the state of NJ regulation

Vesting

Immediate or one-year delayed vesting

Criteria for Immediate 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.

How to Enroll

Complete the following forms:

Please return the completed forms to your Human Resources department

How to Retire

Retirement Seminar

If you are contemplating retirement within the next 6 months, consider attending a retirement seminar. You can enroll online by selecting the "Benefits Seminars" option.

Retirement Checklist

Review the ABP Retirement Checklist
Voluntary Tax-Deferred Savings Plans
You may supplement your retirement by participating in the Tax Deferred Annuity (TDA).