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Additional
Contributions Tax Sheltered (ACTS) Program
The ACTS Program allows for faculty members to
obtain supplemental tax-deferred annuities with a variety of carriers
through a salary reduction agreement. Faculty members can direct
voluntary contributions among six authorized investment carriers.
(For more information on these six carriers, please go to Alternative
Benefit Program page.) The ACTS Program is separate from, and
in addition to, your basic pension benefit, the Supplemental Annuity
Collective Trust (SACT) Fund, and the Deferred Compensation Plan.
To be considered eligible, a faculty member must
meet at least one of the following criteria:
- be presently enrolled in a NJ state-administered
retirement system;
- be considered permanent from date of
hire; or
- have accrued at least twelve consecutive
months of employment.
For more detailed information on the ACTS through
the SHBP, please visit the following web site -
http://www.state.nj.us/treasury/pensions/fact34.htm.
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