Employers' Pensions and Benefits Administration Manual (EPBAM)
   

 

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    New Jersey State Employees
    Deferred Compensation Plan (NJSEDCP)
    Enrollments


   

Enrollment Overview

 
   

Employer Procedures Guide

 
   

Determining Eligibility

 
   

Catch-up

 
   

Emergency

 
   

Death

 
   

Distribution

 


Changes in the Administration of the New Jersey State Employees Deferred Compensation Plan

On October 25, 2005, the State Treasury and New Jersey State Employers Deferred Compensation Board announced that Prudential Retirement, a business of New Jersey-based Prudential Financial, has been selected as the third party administrator for the New Jersey State Employees Deferred Compensation Plan (NJSEDCP). Because of this change in the administration of the NJSEDCP, effective January 1, 2006, some of the information provided below may no longer be accurate; other information has been added to incorporate the changes brought about by the plan administration changes explained above. The Division of Pensions will provide procedural updates regarding the NJSEDCP as soon as they become available.

Prudential's Salary Deferral Change Form Available

Employees wishing to begin making contributions to the NJSEDCP or who wish to change their rate of contribution under Prudential Retirement must complete a Prudential Salary Deferral Change Form, click here. New participants must first establish an account by also completing the Request for Enrollment form, before authorizing payroll reductions with the Salary Deferral Change Form.

Members may also elect to discontinue participation in the NJSEDCP by completing the Salary Deferral Change Form and electing a 0% contribution rate.

Enrolling Eligible Employees

Enrollment into the New Jersey State Employees Deferred Compensation Plan is for eligible employees. Eligible employees include those employed by the State of New Jersey or an eligible agency, authority, commission, or instrumentality of State government.

Those pubic employees employed through a county, township, or municipality and not paid directly by the State of New Jersey or one of its agencies, are NOT eligible for the NJSEDCP.

Effective enrollment dates may vary according to the participant's payroll center. 

An enrollment packet, consisting of three forms, an Enrollment Form, a Beneficiary Designation Form, and a Rollover Preapproval are included. The Enrollment Form must be completed and signed by the employee and submitted to Prudential Retirement, a business of Prudential Financial. 

All forms must be forwarded to the Deferred Compensation office for processing. A confirmation indicating the effective date will be returned to the participant through the payroll office.

"Beneficiary Request Form"


For more information:

Employer's Procedures Guide

Determining Eligibility

Catch-up 

Emergency 

Death 

Distribution

 

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Last Updated: December 7, 2005