Retirement is a big step in life. This guide will help you get information and make informed decisions about your retirement. Please select the topic below to get more information.
There are different types of retirement that you may qualify for depending on your age and the years and months of service credit you have in your retirement system account.
The age requirements and benefit calculations vary with your "Membership Tier," based on the date you were enrolled in the retirement system. (Members of the JRS are not subject to membership tiers.)
View Retirement Types, Eligibility, and Calculations in our Video Library.
Ordinary Disability and Accidental Disability Retirement are available to certain members who are totally and permanently disabled from performing their normal or any assigned job duties.
The eligibility requirements and benefits for disability retirements are very different from other types of retirement.
The PFRS, SPRS, and JRS allow for a continued pension benefit to a survivor.
PERS and TPAF members can choose from a number of different "Pension Options" that allow you to leave a life-time survivor benefit to a beneficiary after your death. JRS members also have these additional options.
View Exploring Pension Options in our Video Library.
Retirement estimates show how much your gross monthly retirement benefit will be. The estimate can also include the amount for a survivor benefit after your death, your group life insurance benefit after retirement, and other important information about your retirement benefits.
PERS and TPAF
Members can get a retirement estimate online using the Member Benefits Online System (MBOS). Estimates use the service and salary information currently posted to your account if you are within two years of your retirement date.
If you are more than two years from retiring, you can get an estimate via MBOS for up to 10 years in the future based on the salary and service credit information you provide, which will not access any of the salary or service information maintained by the Division of Pensions & Benefits. You should not apply for retirement based on this estimate. The calculator is provided as a convenience to our members and is intended only for use in long-range retirement planning.
You may also refer to our Calculating Your Own Retirement Allowance Fact Sheet.
PFRS
Members can get a retirement estimate online using the Member Benefits Online System (MBOS). Estimates use the service and salary information currently posted to your account if you are within two years of your retirement date.
If you are more than two years from retiring, please use the Police and Firemen's Retirement System Calculator You should not apply for retirement based on this estimate. The calculator is provided as a convenience to our members and is intended only for use in long-range retirement planning.
SPRS
Call your Human Resources Office for retirement estimates.
JRS
Call 609-690-4859 for retirement estimates.
Retirement seminars and webinars take a step-by-step approach to the retirement process and what happens after you submit your application. Trained counselors explain your benefits, beneficiary options, group life insurance, loan repayments, pension income taxes, and health benefits coverage in retirement. Seminars usually conclude with a question and answer period.
Your pension benefit is based partly on the amount of service credit posted to your retirement system account, so purchasing additional service credit — if you are eligible — may increase your pension amount or let you retire sooner.
PERS, TPAF, PFRS, SPRS
JRS
For most retirees, the group life insurance benefit becomes much smaller when you retire. You have the option to convert the smaller amount to an individual policy — without the need for a medical exam.
Some retirees will qualify for health coverage under the State Health Benefits Program (SHBP) or the School Employees’ Health Benefits Program (SEHBP) when they retire.
For retirees who meet service credit or other requirements, the State or employer pays some or all of the cost of the SHBP/SEHBP coverage.
Retirees who do not qualify for State-paid or employer-paid coverage may still be eligible for coverage, but have to pay the full cost.
PERS/TPAF
Health Benefits Coverage – Enrolling as a Retiree
Health Benefits Retired Coverage Under Chapter 330 For PERS Law Enforcement Officers
Pension checks are subject to federal income tax (except for Accidental Disability Retirement). However, if you paid tax on any of your contributions to the retirement system, that portion of your monthly check is not taxable.
If you live in New Jersey, your retirement benefit is not subject to New Jersey State income tax until you get back through pension checks the same amount you paid into the pension system while working.
If you live outside of New Jersey, check with your home state's tax office to find out if your pension is taxable in the state you live.
View Possible Retirement Check Deductions in our Video Library.
PERS/TPAF, PFRS, SPRS, JRS
Other than federal and State income tax, there are only a few other deductions that might apply to your monthly pension check. These include:
PERS/TPAF, PFRS, SPRS, JRS
Can I Afford to Retire? Worksheet to compare estimates of gross and net retirement income
Qualified Domestic Relations Orders (QDRO)
View Possible Retirement Check Deductions in our Video Library.
Working for private industry, the federal government, or a government agency in another state will not normally affect your retirement benefits.
However, returning to public employment in New Jersey after retirement may jeopardize your retirement benefits. Retirees should be very careful before accepting any public employment jobs in New Jersey after retirement.
PERS/TPAF, PFRS, SPRS, JRS
Apply Now - PERS/TPAF, PFRS, SPRS
Members must submit their retirement application online using MBOS
View Reviewing a Retirement Application in our Video Library.
JRS
More videos are available to view in our Video Library
Retirement Types, Eligibility & Calculations
Retired Benefitsolver Guide
Solving MBOS Login Issues Part 1