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Pensions and Benefits
DEFINED CONTRIBUTION RETIREMENT PROGRAM (DCRP)

The Defined Contribution Retirement Program (DCRP) — established under the provisions of Chapter 92, P.L. 2007 and Chapter 103, P.L. 2007 and expanded under the provisions of Chapter 89, P.L. 2008 and Chapter 1, P.L. 2010 — provides eligible members with a tax-sheltered, defined contribution retirement benefit, along with life insurance and disability coverage.

Individuals eligible for membership in the DCRP include:

  • State or Local Officials who are elected or appointed on or after July 1, 2007;

  • Employees enrolled in the Public Employees Retirement System (PERS) or Teachers Pension and Annuity Fund (TPAF) on or after July 1, 2007, who earn salary in excess of established “maximum compensation” limits;

  • Employees enrolled in the Police and Firemen’s Retirement System (PFRS) or State Police Retirement System (SPRS) after May 21, 2010, who earn salary in excess of established “maximum compensation” limits;

  • Employees otherwise eligible to enroll in the PERS or TPAF on or after November 2, 2008, who do not earn the minimum annual salary for PERS or TPAF Tier 3 enrollment ($8,100 in 2014, subject to adjustment in future years) but who earn salary of at least $5,000 annually; and

  • Employees otherwise eligible to enroll in the PERS or TPAF after May 21, 2010, who do not work the minimum number of hours per week required for PERS or TPAF Tier 4 or Tier 5 enrollment (35 hours per week for State employees or 32 hours per week for local government or local education employees) but who earn salary of at least $5,000 annually.

The Defined Contribution Retirement Program Board oversees the DCRP, which is administered for the Division of Pensions and Benefits by Prudential Financial

  • Prudential makes DCRP information, including information about distribution options, available on its New Jersey Defined Contribution Program Web site: www.prudential.com/njdcrp   

  • Employers and members can contact Prudential Financial by phone using Prudential's Toll Free Number: 1-866-653-2771.

DCRP PUBLICATIONS AND FORMS

PERS, TPAF, PFRS, and SPRS Members Eligible for the DCRP
State or Local Elected or Appointed Officials
DCRP ACCOUNT INFORMATION
  • Account information is available on the Prudential DCRP Web site: www.prudential.com/njdcrp

  • Or by calling Prudential Financial toll free at: 1-866-653-2771

GROUP LIFE INSURANCE

ENROLLMENT AND ADMINISTRATIVE GUIDANCE FOR EMPLOYERS

DCRP Communications

Department of Community Affairs Guidance on DCRP

Professional Services Contracts and Independent Contractors in PERS or TPAF

 
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