The Alternate Benefit Program (ABP) is a defined contribution plan where retirement benefits are based on investment earnings.
- 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.
5% of base salary made on a pretax basis
8% employer match of employees’ base salary up to an annual salary of $175,000 ($14,000) based on the state of NJ regulation
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:
- Division of Pensions and Benefits ABP Enrollment Application
- ABP Investment Carrier Allocation
- ABP Investment Carrier(s) Enrollment Application(s)
Please return the completed forms to your Human Resources department
- Equitable 800-628-6673
- Empower (formerly Mass Mutual) 866-816-4400
- VOYA Financial 877-873-0321
- Met Life 800-543-2520
- TIAA 800-842-8412
- Empower (formerly Prudential) 855-652-2711
- AIG (formerly VALIC) 908-470-4110
First Quarter 2021 Newsletter
How to Retire
- Complete an ABP Application for Retirement Allowance form
- Return application to University Human Resources
- Make arrangements with your investment carrier to withdraw retirement funds
- You will also receive a benefits offering packet from the state to enroll in retiree benefits
If you are contemplating retirement within the next 6 months, consider attending a retirement seminar. You can enroll online by selecting the "Employee Benefit and Work-Life Programs" menu option.