Seminars for Employees Offered
by the Division
Employers
may wish to encourage new employees to attend a "Pension
and Financial Planning Headstart Seminar" offered by the
Division of Pensions and Benefits. This seminar is designed to
help new employees understand the State-administered pension fund
in which they are enrolling, and the benefits and future pension
associated with their pension fund. This seminar also includes
a presentation about financial planning, given by a financial
professional.
For employees who are within three years of retirement, the Division
offers "Pre-retirement Education Seminars", and for
those who are within six months of retiring, "Retirement
Workshops". These seminars and workshops prepare the employee
for the process of retiring from their State-administered pension
fund. A full schedule of workshops and seminars, many offered
at various locations throughout
the State, can be found at: http://www.state.nj.us/treasury/pensions/seminars.htm
(Internet users only). Online
registration is available for some of the seminars and workshops.
A Seminar Registration Form
can be downloaded and printed from the Web site listed above.
Once it has been filled out, it can be faxed to (609) 292-9500,
or mailed to Division of Pensions and Benefits, Benefits Education,
PO Box 295, Trenton, NJ 08625-0295.
In addition, Pension and Financial
Plannning Headstart or Preretirement Seminars for your employees
can be given at your site. To arrange an on-site seminar, please
call Benefits Education, at (609) 777-2111. You must generally
have at least 15 employees who are interested in attending, and
several possible dates.
For
information about training opportunities for employers, click
here.
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Member Handbooks
In addition to the normal orientation
information on attendance policies, vacation, sick days, etc.,
the members should be provided with a copy of the member handbook
of the retirement system they will be joining:
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Services Offered
to Employees by the Division of Pensions and Benefits
Division Internet
Address
The Division's Internet address is
http://www.state.nj.us/treasury/pensions
Please share it with your employees. Let them know that much Division
information is available on this site, including SHBP information,
recent legislation, and many Division publications, including
member handbooks, forms, and fact sheets, for both viewing and
printing.
Telephone
Counseling Services
Telephone counselors
are available by calling Client
Services, at (609) 292-7524 from 8:30 a.m. to 4:00 p.m.,
Monday through Friday, except State holidays, to help employees
with many pension-related issues. Phone counselors can answer
questions about member accounts, processing times, and pensions;
members can also obtain Division forms and publications.
Contacting the Division's Telephone
Counselors Using a TDD
Members who are hearing impaired
can contact the Division using its TDD number, (609) 292-7718.
A telecommunications device for the
deaf (TDD) is required.
Walk-in Counseling
Services
To speak to a counselor in person
on a walk-in basis (no appointments are taken), employees
can visit the Division of Pensions and Benefits, at 50 West State
Street (State Street Square), Trenton, NJ. Counselors are available
Monday through Friday, from 7:40 a.m. to 4:00 p.m. excluding State
holidays. Directions to the Division
are available.
The Automated Information System
The Division's Automated Information
System, at (609) 777-1777, offers information specific
to a member's individual account 24 hours a day, seven days a
week, including:
- Loan Information
- Purchase Information
- Withdrawal Information
- Member Account Information
- Health Benefits Information
- Retirement Information
- Deferred Compensation Information
- Supplemental Annuity Collective
Trust Information
The member must have a touch tone phone,
and must input his or her Social Security number in order to gain
access to this information through the Automated Information System.
Division E-mail Address
The Division of Pensions and Benefits
has a new e-mail address:
pensions.nj@treas.state.nj.us
Please advise employees to use this address when e-mailing the
Division regarding a question or problem. The Division tries to
respond to e-mail within three working days; however, some replies
may take up to a week, depending upon the complexity of the problem
or question submitted.
Division Mailing
Address
To contact the Division of
Pensions and Benefits by mail, write to:
Division of Pensions and Benefits
Client Services
PO Box 295
Trenton, NJ 08625-0295
The member should provide his or
her Social Security number, membership number, address, and telephone
number. If the member is addressing a specific problem, indicating
the Section or Unit to which the problem should be directed will
The New Jersey State Employees
Deferred Compensation Plan
To contact the New Jersey State
Employees Deferred Compensation Plan of the Division of Pensions
and Benefits, the member can call (609) 292-3605, or;
The member can write to:
Division of Pensions and Benefits
Deferred Compensation Plan
PO Box 295
Trenton, NJ 08625-0295
The Supplemental Annuity Collective
Trust Fund of New Jersey
To contact the Supplemental Annuity
Collective Trust Fund of New Jersey of the Division of Pensions
and Benefits, the member can call (609) 633-2031, or;
The member can write to:
Division of Pensions and Benefits
SACT
PO Box 295
Trenton, NJ 08625-0295
The State Health Benefits Program
To contact the State Health Benefits
Program of the Division of Pensions and Benefits, the member
can call (609) 292-7524, or;
The member can write to:
New Jersey Division of Pensions
and Benefits
SHBP
PO Box 299
Trenton, NJ 08625-0299
Retiree Change of Address
To Contact the Division about
a Change of Address (For Employees Who Are Nearing Retirement
or Have Already Retired Only)
Employees who are retiring soon and
are also planning to move can change a home address by:
- Calling (609) 292-MOVE;
- Using the online "Retiree
Change of Address" link;
- Calling or writing Client Services,
to request a Change of Address form.
If the employee is a member of the
New Jersey State Employees Deferred Compensation
Plan, SACT, or ACTS,
he or she must notify these plans of the impending address change
as well.
Contact
Information for Employers Only
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Contact
Information for Employers ONLY!
By Phone
- Employer
Education Unit: (609) 777-2111
- a dedicated line for employer's questions
- Through
Client Services: (609)
292-7524
- follow the prompts for employer calls.
Via the
Internet
Information
about training opportunities for employers (PERS, TPAF, and
PFRS only) is available through this link.
Contact Information
for Employees
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Pension
Contributions
Pension
contributions are deducted from every enrolled member of the State-administered
retirement systems.
- Contributions are certified by
the Division of Pensions and Benefits and are based on a percentage
of each member's base salary.
The contribution rate is determined by rules of the retirement
system to which the member belongs (see below).
- Contributions are deducted from
regular payroll (except for retroactive
increases or back pay awards) and remitted to the Division
of Pensions and Benefits monthly through TEPS
(for most local employers, boards of education, State colleges
and universities, State Authorities, and others), or biweekly
(for employers who utilize NJ State Centralized Payroll).
- Contributions are reported for
monthly employers on the quarterly
Report of Contributions, and credited to the members' accounts
when the quarterly contributions are posted for each fund. (Posting
takes place 30 - 45 days following the close of each calendar
quarter.
Contribution Rates
by Fund
TPAF
The full, permanent member contribution rate is established at
5% of base salary (.05).
There was a temporary rate reduction to
4.5% (.045) in effect through
2001 .
Temporary rate dropped to 3% (.03) beginning January 1, 2002.
PERS
The full, permanent contribution rate
is established at 5% of base salary (.05).
The temporary contribution rate is 3% (.03) of base salary through
2003.
PERS Legislative
The full, permanent contribution rate
is established at 5% of base salary (.05).
PERS
Workers' Compensation Judges Part
The full, permanent
contribution rate is established at 5% of base salary (.05).
PERS Prosecutors' Part
The full, permanent contribution rate
is established at 7.5 % of base salary (.075).
PFRS
The full, permanent contribution rate is 8.5% (.085) of base
salary.
SPRS
The full, permanent contribution rate is 7.5% (.075) of base salary.
JRS
The full, permanent contribution rate is 3% (.03) of base salary,
unless hired prior to January 1, 1996.
Contributions made to the State-administered
retirement systems use pretax
dollars under the provisions of IRC 414(h) which lowers the
member's federally taxable income.
Note:
Retirement calculations are not based on account value, but are
calculated on the basis of accumulated service credit and salary
history. A member's contributions help finance a retirement
allowance, but do not determine its amount. See
the Retirements main page to learn more about the role of contributions
in defined benefit plans.
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Service
Credit
Service
credit and salary history are the primary factors involved in
pension calculation when a member retires.
Service credit is accrued through
active participation in the pension systems and through "purchases".
One year's service credit is earned
for one year's work.
NOTE: Until recently, with
the passage of Chapter 6, PL 2001, a member who had concurrent
service in two retirement systems could not transfer any service
credit from one pension fund to another. Now, however, it is possible
to transfer service credit between TPAF and PERS, excluding concurrent
service credit, if the period of concurrent service is less than
three years.
For example: A member has
4 years service credit in TPAF and becomes enrolled in PERS during
the 4th year, then resigns the TPAF position after one year. The
member will have the option to transfer all non-concurrent service
from TPAF into the PERS account.
A member receives service credit
from the date of enrollment.
A member's date of enrollment will
never change, regardless of transfers or purchases of service
credit.
A member may Purchase
Service Credit to enhance his or her pension.
Each purchase adds service credit
to the member's account
