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 (or any of the other investment carriers). Voluntary investments with TIAA (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.

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 $19,500 (for a total of $39,000 using both plans) for employees under age 50 and $26,000 (for a total of $52,000 using both plans) for employees age 50 and over in 2020.

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.

Does the NJSEDCP have any effect 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 effect 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.

How do I enroll in the NJSEDCP?

To enroll, you must complete a NJSEDCP enrollment kit and return the completed forms to Prudential Retirement.

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.

Is there an option to make after-tax contributions?

Yes, there is a voluntary Roth contribution option.  Roth contributions are made on an after-tax basis. 

For additional information please visit the Roth FAQs page.

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.

For 2020, employees under the age of 50 can tax-defer $19,500 and employees age 50 and older can tax-defer $26,000. The plan is currently administered by Prudential Retirement.

Employees with 15 or more years of service may be eligible to tax-defer and additional $3,000 per plan if they have not contributed the maximum amount in previous years.

Where do I get more information about the NJSEDCP?

For additional information about the NJSEDCP visit the Prudential website.

You may also call the Prudential at 866-657-3327 (866-NJSEDCP), or the OneSource Rutgers Faculty and Staff Service Center at 732-745-SERV (7378).