1. Can I continue to participate with TIAA-CREF (or any of the other state-approved investment carriers) with Prudential as the third-party administrator for the NJSEDCP?
   
   

Yes, you can continue to participate with TIAA-CREF (or any of the other investment carriers). Voluntary investments with TIAA-CREF (or the other investment carriers) are made available through Internal Revenue Code 403(b). Voluntary investments in the NJSEDCP are made available through an IRC 457 arrangement. These are separate plans and participation in one has no affect on participation in the other.



2. What is the New Jersey State Employees Deferred Compensation Plan (NJSEDCP)?
   
   

   The NJSEDCP is a voluntary tax-deferred savings plan for employees of public or government employers made available under IRC 457.

   In 2008, employees under the age of 50 can tax-defer $15,500 and employees age 50 and older can tax-defer $20,500. The plan is currently administered by Prudential Retirement.

3. Does the NJSEDCP have any affect on my retirement plan?
   
   

No. Whether you participate in the Public Employees' Retirement System, Alternate Benefit Program,or Police and Firemen's Retirement System, the NJSEDCP has no affect on your basic retirement plan.The NJSEDCP is a voluntary tax-deferral program meant to supplement your basic retirement plan. If you choose not to participate, your basic retirement plan will remain unchanged.



4. I do not want to participate in the NJSEDCP.  Is there any action that I need to take?
   
   

No action is required on your part if you do not want to participate in the NJSEDCP.



5. Can I participate in a 403(b) plan and the NJSEDCP?
   
   Yes, you can participate in both plans. Rutgers employees can participate in a 403(b) plan with one of the state-approved investment carriers and contribute an additional $15,500 in 2008 if under the age of 50 (for a total of $31,000 using both plans), or an additional $20,500 if age 50 or older (for a total of $41,000 using both plans). If you are employed at least 15 years at Rutgers, and have not previously made significant contributions you may be eligible to defer up to an additional $3,000 in the 403(b) plan.
   
   
6. How do I enroll in the NJSEDCP?
   
   To enroll, you must complete a NJSEDCP enrollment kit and return the completed forms to Prudential Retirement. Enrollment kits are available from University Human Resources. To request an enrollment kit, call UHR at 732-932-3020.
   
   
7. Where do I get more information about the NJSEDCP?
   
   

   For additional information about the NJSEDCP, go to the Division of Pensions and Benefits website or Prudential Retirement’s website.

   You may also call the Division of Pensions and Benefits at 609-292-3605, Prudential at 866-657-3327 (866-NJSEDCP), or a Benefits Specialist at 732-932-3020, ext. 4077.
   
   

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Last Updated: 01/09/2008