Employers' Pensions and Benefits Administration Manual (EPBAM)
   

 

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New Jersey State Employees
Deferred Compensation Plan (NJSEDCP)
Determining Eligibility


Changes in the Administration of the NJSEDCP

Employer's Procedures Guide

Enrollment

Catch-up

Emergency

Death

Distribution


    New Jersey State Employees Deferred Compensation Plan Administration

    Prudential Retirement, a business of New Jersey-based Prudential Financial, has been the third party administrator for the New Jersey State Employees Deferred Compensation Plan (NJSEDCP) since January 1, 2006. The information below has been modified to incorporate the changes brought about by the plan administrator changes above. The Division of Pensions and Benefits will continue to provide procedural updates regarding the NJSEDCP as they become available.

Determining Eligibility

Subject to the approval of the State Treasurer and the Deferred Compensation Board, the eligibility requirements for enrollment dictate that the individual must be an employee of the State of New Jersey, or an eligible agency, authority, commission, or instrumentality of State government that has an independent corporate existence. (Click here for a list of participating employers.) As well, the employee must either be presently enrolled in a New Jersey state-administered retirement system, including the Alternate Benefit Program, or have accrued at least twelve (12) consecutive months of employment.

The exceptions are those employees not required to enroll in the retirement system who are considered permanent immediately, or that have accrued at least twelve consecutive months of employment, or any individual employed through a Governor's appointment.

Individuals employed through a county, township, or municipality and not paid directly through the State of New Jersey or one of the State's agencies, authorities, commissions or instrumentalities are not eligible to participate in the New Jersey State Employees Deferred Compensation Plan.



 

For more information:

Employer's Procedures Guide

Enrollment

Catch-up

Emergency

Death

Distribution


 

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Last Updated: December 6, 2005