Employers' Pensions and Benefits Administration Manual (EPBAM)
   

 

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The State-administered Retirement Systems


TPAF  

Teachers' Pension and Annuity Fund

PERS  

Public Employees' Retirement System

PFRS  

Police and Firemen's Retirement System

SPRS  

State Police Retirement System

JRS  

Judicial Retirement System

ABP  

Alternate Benefit Program

DCRP Defined Contribution Retirement Program

CPFPF  

Consolidated Police and Fire Pension Fund

POPF  

Prison Officers' Pension Fund

CPF  

Central Pension Fund of New Jersey

Listing of Annual Reports


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

 

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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


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:

  1. 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;
  2. 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:

  1. 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;
  2. 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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Annual Reports (Most Recent Year)

The Annual Reports are in PDF format for downloading and printing.

2006 Annual Reports
Fiscal Year 2006 Composite Annual Report
  Introductory Section
Actuarial Section
Financial Section
Investment Section
Statistical Section
 
 

Small Reports, by Fund: Most Recent - 2005
(2006 Small Reports Not Yet Available)

 
 Central Pension Fund (Audit Report)  
 

Consolidated Police and Fire Pension Fund

 
 

Judicial Retirement System

 
 

NJ State Employees' Deferred Compensation Plan
(Audit Report)

 
 

Pension Adjustment Fund with Alternate Benefit Program (Audit Report)

 
 

Pension Trust Fund (Audit Report)

 
 

Police and Firemen's Retirement System

 
 

Prison Officers' Pension Fund

 
 

Public Employees' Retirement System

 
 

Supplemental Annuity Collective Trust

 
 

State Health Benefits Program

 
 

State Police Retirement System

 
 

Teachers' Pension and Annuity Fund

 
 

Alternate Benefit Program (with Pension Adjustment Fund)

 

Annual Reports 2005

The Annual Reports are in PDF format for downloading and printing.

2005 Annual Reports
Fiscal Year 2005 Composite Annual Report
    Introductory Section
Actuarial Section
Financial Section
Investment Section
Statistical Section
 
 

Small Reports, by Fund

 
  Central Pension Fund (Audit Report)  
 

Consolidated Police and Fire Pension Fund

 
 

Judicial Retirement System

 
 

NJ State Employees' Deferred Compensation Plan
(Audit Report)

 
 

Pension Adjustment Fund with Alternate Benefit Program (Audit Report)

 
 

Pension Trust Fund (Audit Report)

 
 

Police and Firemen's Retirement System

 
 

Prison Officers' Pension Fund

 
 

Public Employees' Retirement System

 
 

Supplemental Annuity Collective Trust

 
 

State Health Benefits Program

 
 

State Police Retirement System

 
 

Teachers' Pension and Annuity Fund

 
 

Alternate Benefit Program (with Pension Adjustment Fund)

 

Annual Reports 2004

The Annual Reports are in PDF format for downloading and printing.

2004 Annual Reports
Fiscal Year 2004 Composite Annual Report
    Introductory Section
Actuarial Section
Financial Section
Investment Section
Statistical Section
 
 

Small Reports, by Fund

 
  Central Pension Fund (Audit Report)  
 

Consolidated Police and Fire Pension Fund

 
 

Judicial Retirement System

 
 

NJ State Employees' Deferred Compensation Plan
(Audit Report)

 
 

Pension Adjustment Fund with Alternate Benefit Program (Audit Report)

 
 

Pension Trust Fund (Audit Report)

 
 

Police and Firemen's Retirement System

 
 

Prison Officers' Pension Fund

 
 

Public Employees' Retirement System

 
 

Supplemental Annuity Collective Trust

 
 

State Health Benefits Program

 
 

State Police Retirement System

 
 

Teachers' Pension and Annuity Fund

 
 

Alternate Benefit Program (with Pension Adjustment Fund)

 

 

Annual Reports 2003

The Annual Reports are in PDF format for downloading and printing.

2003 Annual Reports
Fiscal Year 2003 Composite Annual Report
  Introductory Section
Actuarial Section
Financial Section
Investment Section
Statistical Section
 
 

Small Reports, by Fund

 
 Central Pension Fund (Audit Report) 
 

Consolidated Police and Fire Pension Fund

 
 

Judicial Retirement System

 
 

NJ State Employees' Deferred Compensation Plan
(Audit Report)

 
 

Pension Adjustment Fund with Alternate Benefit Program (Audit Report)

 
 

Pension Trust Fund (Audit Report)

 
 

Police and Firemen's Retirement System

 
 

Prison Officers' Pension Fund

 
 

Public Employees' Retirement System

 
 

Supplemental Annuity Collective Trust

 
 

State Health Benefits Program

 
 

State Police Retirement System

 
 

Teachers' Pension and Annuity Fund

 
 

Alternate Benefit Program (with Pension Adjustment Fund)

 

 

2002 Annual Reports
Fiscal Year 2002 Composite Annual Report
  Introductory Section
Actuarial Section
Financial Section
Investment Section
Statistical Section

 

Small Reports, by Fund

 Central Pension Fund (Audit Report) 
 

Consolidated Police and Fire Pension Fund

 
 

Judicial Retirement System

 
 

NJ State Employees' Deferred Compensation Plan (Audit Report)

 
 

Pension Adjustment Fund (Audit Report)

 
 

Pension Trust Fund (Audit Report)

 
 

Police and Firemen's Retirement System

 
 

Prison Officers' Pension Fund

 
 

Public Employees' Retirement System

 
 

Supplemental Annuity Collective Trust

 
 

State Health Benefits Program

 
 

State Police Retirement System

 
 

Teachers' Pension and Annuity Fund

 

 

2001 Annual Reports

 Fiscal Year 2001 Composite Annual Report  
 
Introductory Section
Actuarial Section
Financial Section
Investment Section
Statistical Section
 
 

Small Reports, by Fund

 
 Central Pension Fund (Audit Report) 
 

Consolidated Police and Fire Pension Fund

 
 

Judicial Retirement System

 
 

NJ State Employees' Deferred Compensation Plan
(Audit Report)

 
 

Pension Adjustment Fund (Audit Report)

 
 

Pension Trust Fund (Audit Report)

 
 

Police and Firemen's Retirement System

 
 

Prison Officers' Pension Fund

 
 

Public Employees' Retirement System

 
 

Supplemental Annuity Collective Trust

 
 

State Health Benefits Program

 
 

State Police Retirement System

 
 

Teachers' Pension and Annuity Fund

 
 Most Recent Audit Report (June 30, 2000) for:
Health Benefits Program Fund
Dental Expense Program Fund
Prescription Drug Program Fund
Alternate Benefit Program Fund
Alternate Benefit Long Term Disability Fund
 

 

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Last Updated: August 8, 2012