Members of the Public Employees' Retirement System (PERS) or the Police and Firemen's Retirement System (PFRS)
Eligibility
- Must be an actively contributing member of PERS or PFRS. Retirees and members who are not in a “regular” pay status (i.e., suspended without pay or on a leave of absence) are not eligible for a pension loan
- Must have three years of contributing membership posted to your account
- Permitted no more than two loans in a calendar year
How to Apply
- Submit your loan request online using the Member Benefits Online System (MBOS)
- Applications can be submitted by calling the Automated Information System at (609) 292-7524
Members of the Alternate Benefit Program (ABP)
Eligibility
- Vested members of the ABP are eligible to receive loans based on their account balances.
- Members should contact their investment carrier(s) for applications and repayment procedures
- Investment Carrier Representatives
- Investment Carrier Representatives for employees in Legacy UMDNJ positions at Rutgers
Loan Application Forms cannot be signed if:
- The total outstanding loan(s) and the newly requested loan is in excess of $50,000 or 50% of total assets
- Loan request is submitted by a former employee (Loans are not available to former employees)
How to Apply
- Contact the Investment Carrier directly for the Loan Application form
- Investment Carrier Representatives
- Investment Carrier Representatives for employees in Legacy UMDNJ positions at Rutgers
- Submit the Loan Application Form requiring Employer's Authorizion signature to your Human Resources department
- Loan applicants may contact the Investment Carrier directly for current loan status