The
Teachers' Pension and Annuity Fund (TPAF)
is a defined benefit pension fund established in 1919 and reorganized in 1955.
It is open to employees of boards of education and the State who must be certified
or credentialed as a condition of employment. Membership in the TPAF for employees
who meet eligibility requirements is mandatory. The TPAF is maintained on an actuarial
reserve basis. The TPAF Board of Trustees has the responsibility for the proper
administration of the retirement system. All membership and retiree account records
in TPAF begin with the number "01".
TPAF
Index
TPAF
Member Handbook
Board
of Trustees
Trustees'
Meeting Schedule
TPAF
Annual Report (Most Recent)
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The
Public Employees' Retirement System (PERS) is a defined benefit pension
fund established in 1955. It is open to most state, county, municipal, authority,
and school board employees and elected officials who are not required to become
members of any other NJ state retirement system (i.e., Teachers' Pension and Annuity
Fund, Police and Firemen's Retirement System, State Police Retirement System,
Judicial Retirement System, or Alternate Benefit Program). Membership in the PERS
of employees who meet eligibility requirements is mandatory in most cases. The
PERS is maintained on an actuarial reserve basis. The PERS Board of Trustees has
the responsibility for the proper administration of the retirement system. All
membership and retiree account records in PERS begin with the number "02",
except for legislative accounts. Legislative accounts begin with "00".
PERS
Member Handbook
Board
of Trustees
Trustees'
Meeting Schedule
PERS
Annual Report (Most Recent)
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The
Police and Firemen's Retirement System (PFRS) is a defined benefit pension
fund established in 1944. It is open to all police officers and firefighters appointed
after June 1944. Participation of employees in the PFRS from municipalities is
mandatory and a condition of employment. Certain State and County law enforcement
job titles are also covered by PFRS. However, if an employee in a county or state
police or fire title does not meet PFRS eligibility requirements, PERS membership
is required. The PFRS is maintained on an actuarial reserve basis. The PFRS Board
of Trustees has the responsibility for the proper administration of the retirement
system. All membership and retiree account records in PFRS begin with the number
"03".
PFRS
Member Handbook
Board
of Trustees
Trustees'
Meeting Schedule
PFRS
Annual Report (Most Recent)
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The
State Police Retirement System (SPRS) is a defined benefit pension fund
established in 1965 as the successor of the State Police Retirement and Benevolent
Fund. All full-time troopers or commissioned or noncommissioned officers of the
New Jersey Division of State Police appointed after July 1, 1965, are members
of this system. The SPRS is maintained on an actuarial reserve basis. The SPRS
Board of Trustees has the responsibility for the proper administration of the
retirement system. All membership and retiree account records in SPRS begin with
the number "08".
SPRS
Member Handbook
Board
of Trustees
Trustees'
Meeting Schedule
SPRS
Annual Report (Most Recent)
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Judicial
Retirement System (JRS) is a defined benefit
pension fund established in 1973 after the repeal of the laws that had provided
pension benefits to members of the State judiciary and their eligible survivors
since 1948. All members of the State judiciary are required to enroll in the JRS.
The JRS is maintained on an actuarial reserve basis. The State House Commission
has the responsibility for the proper administration of the retirement system.
All membership and retiree account records in JRS begin with the number "06
".
JRS
Member Handbook
JRS
Annual Report (Most Recent)
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The Alternate
Benefit Program (ABP) is a defined contribution
pension fund established through legislation enacted between 1965 and 1968. The
ABP covers certain employees of state colleges and universities and county colleges.
Full-time faculty, officers, visiting professors and certain professional administrative
staff required to possess a college degree or its equivalent, participate in the
ABP.
Alternate
Benefit Program Member Handbook
Fact
Sheet 38, Alternate Benefit Program
Carrier
Comparison Guide (color version)
Carrier
Comparison Guide (black and white version)
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The Defined Contribution Retirement Program (DCRP) is a defined contribution
pension fund established on July 1, 2007 under the provisions of Chapter 92, P.L. 2007, and Chapter 103, P.L. 2007 (N.J.S.A. 43:15C-1 et.seq.). The DCRP is a tax-qualified defined contribution money purchase pension plan under Internal Revenue Code (IRC) § 401(a) et seq., and is a “governmental plan” within the meaning of IRC § 414(d).
The DCRP provides retirement benefits for eligible employees and their beneficiaries. Employees who are eligible for membership in the DCRP include:
- State or local officials ELECTED on or after July 1, 2007;
- State or local officials APPOINTED on or after July 1, 2007;
- Employees enrolled in the PERS or TPAF on or after July 1, 2007 who earn a salary in excess of established "Maximum Compensation" limits.
For additional information regarding the enrollment of eligible employees, please see "Enrolling in the DCRP" in this manual.
For information regarding DCRP retirements, please see "Retiring from the DCRP" in this manual.
Additional DCRP information
- Fact Sheet #79, Defined Contribution Retirement Program (DCRP) for PERS and TPAF Members
- Fact Sheet #80, Defined Contribution Retirement Program (DCRP) for Elected and Appointed Officials
- August 2007 Certifying Officer Letter, "Chapter 92, P.L. 2007 and Chapter 103, P.L. 2007, Pension Changes for the PERS, TPAF, and DCRP"
- March 2008 Certifying Officer Letter, "Defined Contribution Retirement Program (DCRP) Enrollment Guidelines" - for Elected or Appointed Officials
- March 2008 Certifying Officer Letter, "Defined Contribution Retirement Program (DCRP) Enrollment Guidelines" - for PERS or TPAF Members.
Consolidated
Police and Firemen's Pension Fund (CPFPF)
is a defined benefit pension fund established in 1952 to replace, on an actuarial
basis, 212 local police and firemen pension funds. The CPFPF membership is limited
to policemen and firemen appointed prior to July 1, 1944. The liabilities of these
local funds were shared two-thirds by the participating municipalities and one-third
by the state. The CPFPF Board of Trustees has the responsibility for the proper
administration of the retirement system. There are no active members of CPFPF.
New employees are enrolled in PFRS. All retiree account records in CPFPF begin
with the number "05".
Benefit
Summary
Board
of Trustees
CPFPF
Annual Report (Most Recent)
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Prison
Officers' Pension Fund (POPF)
is a defined benefit pension fund established in 1941. The POPF was not maintained
on an actuarial reserve basis and was closed to new employees as of January 1960.
New employees are enrolled in the Police and Firemen's Retirement System. The
Division of Pensions and Benefits has the responsibility for the proper administration
of the retirement system. All retiree account records in POPF begin with the number
"04 ".
Benefit
Summary
POPF
Annual Report (Most Recent)
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The
Central Pension Fund (CPF) consists
of the administration of a series of noncontributory pension acts. These include
Heath Act pensions for state employees, Veterans Act pensioners, Noncontributory
Pensions for certain employees, Annuity for Widows of Governors, and special pensions.
No reserves are established for the payment of retirement benefits. These benefits
are administered by the Division in accordance with the governing statute and
the rules and regulations of the State House Commission. All retiree account records
in CPF begin with the number "07".
CPF
Annual Report
(Most Recent)
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Consolidated Police and Firemen's Retirement Fund
(CPFPF) Benefits
The surviving widow or widower of a retired member will be paid an annual pension
equal to 50 percent of the member's average salary, plus 15 percent of average
salary for one child, 25 percent for two or more children. If there is no widow
or widower, or if the widow or widower dies or remarries leaving children of the
member, a pension will be paid to such children at the rate of 50 percent of average
salary to three or more children; 35 percent to two children; and 20 percent to
one child.
"Children"
means a deceased member's unmarried children under age 18 or of any age who, at
the time of the member's death, are disabled because of mental retardation or
physical incapacity, are unable to do any gainful employment because of the impairment,
and the impairment has lasted or can be expected to last for a continuous period
of not less than 12 months, as affirmed by the physicians of the fund.
When
a retired member dies, the named beneficiary may be entitled to:
- The accrued retirement allowance which reflects
all monthly benefits due the retiree but which the retiree was unable to collect,
including the month in which the member died;
- The
payment of any survivor benefits.
Any
pension checks that were sent to the retiree that remain uncashed at the time
of death must be returned. If the pension check is cashed, reimbursement must
be made. A new check, if payable, will be issued to the last designated beneficiary
on record.
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Prison
Officers' Pension Fund (POPF) Benefits
The
surviving widow or widower of a retired member will be paid an annual pension
equal to 25 percent of the member's average salary, plus 15 percent of average
salary for one child, 25 percent for two or more children. If there is no widow
or widower, or if the widow or widower dies or remarries leaving children of the
member, a pension will be paid to such children at the rate of 50 percent of average
salary to three or more children; 35 percent to two children; and 20 percent to
one child.
"Children"
means a deceased member's unmarried children under age 18 or of any age who, at
the time of the member's death, are disabled because of mental retardation or
physical incapacity, are unable to do any gainful employment because of the impairment,
and the impairment has lasted or can be expected to last for a continuous period
of not less than 12 months, as affirmed by the physicians of the fund.
When
a retired member dies, the named beneficiary may be entitled to:
- The accrued retirement allowance which reflects
all monthly benefits due the retiree but which the retiree was unable to collect,
including the month in which the member died;
- The
payment of any survivor benefits.
Any
pension checks that were sent to the retiree that remain uncashed at the time
of death must be returned. If the pension check is cashed, reimbursement must
be made. A new check, if payable, will be issued to the last designated beneficiary
on record.
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