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Planning to retire?
To avoid any lapse in coverage it is best to start the retirement process six months before the retirement date.
If you are retiring from the University, there are key points to consider:
- Continuation of medical, dental and prescription drug coverage through the State Health Benefits Retiree Coverage
- Continuation of medical, dental and prescription drug coverage through COBRA
- Continuing group life insurance benefit
- Voluntary tax sheltered plans
- Long Term Care Insurance
- Tax$ave Program
- Commuter Tax$ave Program
- Vacation, sick and float time
Retiree medical, dental and prescription drug coverage
Please contact your Campus Benefits Representative regarding your coverage.
Once the Division of Pensions and Benefits has received your Retirement Application a
packet will be mailed to you with information regarding the retiree health coverage along with a NJ State Health Benefits Retired Status Application.
- A spouse/same sex domestic partner and dependent child (ren) are eligible for coverage.
- If the retiree predeceases the spouse or dependent child (ren) coverage may continue by paying the full group rate.
If you wish to enroll in the retiree coverage complete the application and mail it directly to
the State Health Benefits Program as soon as possible. Retirees and their spouse who are
65 and older must provide proof of their enrollment in Medicare Part A and B.
Fact Sheet #11 Enrolling in the State Health Benefits Program When You Retire
Fact Sheet #23 The State Health Benefits Program and Medicare Parts A & B for Retiree
Fact Sheet #73 Retiree Dental Expense Plan
Retiree Dental Expense Plan Rates
Retiree rate for retirees who pay the full cost
Retiree rates for retirees who share the cost
Retiree Wellness Program
Continuation of medical, dental and
prescription drug coverage through COBRA
A COBRA packet is sent to all employees separating employment from UMDNJ. If you do not elect the retiree health insurance coverage, you are eligible for COBRA for up to 18 months. If you elect the COBRA packet please complete the application and mail it directly to the address on the application.
Pension Plans
Alternate Benefit Program (ABP)
Once vested there is no minimum retirement age under ABP. However, the member is considered retired, regardless of age, if there is any distribution of mandatory employee contributions.
Distribution of mandatory funds at time of retirement:
- May elect to receive all or a portion of the member's account in a lump-sum distribution or as a fix term or life annuity.
- Lump sum cash distributions to members under the age of 55 are limited to the member's contributions and earnings.
- The remaining employer contributions and earnings are only available after age 55.
The types of payout plans and fees vary from carrier to carrier and are a factor when selecting a carrier. All returns of contributions and earnings are taxable in the year they are received.
Contact your Investment Provider for settlement options:
If a retired member, as defined above, returns to public employment in New Jersey, that retired member is not eligible to participate in any New Jersey State administered retirement system.
Long Term Disability ceases on date of separation
New Jersey State ABP Handbook
Alternate Benefit Program Application for Retirement
(Return to campus benefits representatives)
Public Employees Retirement System (PERS)
Service Retirement reguirements:
- 60 years of age or older, does not have to be vested
Early retirement requirements:
- under age 60 with 25 years of pension service credit
- under age 55 with 25 years of service credit there is a reduction on the calculation of .25% per month (3% per year)
Returning to employment
- Please meet with your Campus Benefits Representative for possible consequences if rehired.
Application for Retirement Allowance
Change Retirement Date, Option, Type or Cancel Retirement
Request for a Retirement estimate
Applications to Purchase Service Credit
Retirement Estimate Calculators
Planning for your Retirement (PERS)
Fact Sheet #14- Deferred Retirement
Fact Sheet #21- Employment After Retirement (PERS)
Police and Fire Retirement System (PFRS)
Service retirement requirements:
- Type 1- age 55 or older
- Type 2- age 55 or older with at least 20 years of service credit (but not less than 25 years of service) or 20 or more years of service credit at any age, but less than 25 years of service credit, if enrolled prior to 1/18/80
- Type 3- mandatory retirement at 65, with 20 or more years of service credit but less than 25 years of service credit
Fact Sheet #19- Applying for Retirement (PFRS)
Fact sheet #29 Employment After Retirement (PFRS)
Fact Sheet #14- Deferred Retirement
PFRS Retirement Planning Booklet
PFRS Application for Retirement Allowance
Request for a Retirement Estimate
Purchase of Service Credit
Retirement Estimate Calculator
GroupLife Insurance (ABP, PERS, PFRS)
Alternate Benefit Program (ABP)
- available to members age 60 or older with 10 years pension service credit
- is reduced to ½ of the total base salary upon which pension contributions were based during the last 12 months preceding retirement
- member has 31 days after separation of employment to convert the coverage
- eligible to convert the same amount of life insurance coverage lost to an individual, non-group policy with Prudential Insurance Company
- contact Prudential Insurance Company 1-800-262-1112 policy number G-14800
Public Employees Retirement system (PERS)
- available to members who retire at the age of 60 with 10 years of pension service credit or at the age of 55 older with 25 years of pension service credit
- is reduced to 3/16th of the total base salary upon which pension contributions were based during the last 12 months preceding retirement
- member has 31 days after separation of employment to convert the coverage
- eligible to convert the same amount of life insurance coverage lost to an individual, non-group policy with Prudential Insurance Company
- contact Prudential Insurance Company 1-800-262-1112
noncontributory insurance policy number G-14800
contributory insurance policy number G-13900
Police and Fire Retirement System (PFRS)
- available to members with 10 or more years pension service credit
- is reduced to 50% of the total base salary upon which pension contributions were based during the last 12 months preceding retirement
- member has 31 days after separation of employment to convert the coverage
- eligible to convert life insurance within 31 days of retirement
- contact Prudential Insurance Company 1-800-262-1112
noncontributory insurance policy number G-14800
contributory insurance policy number G-13900
Fact Sheet #13 Conversion of Group Life Insurance
Group Life Insurance conversion Calculator
Flexible Spending Account
- ceases on date of separation. COBRA is available for the Unreimbursed Medical Spending Account through the remainder of the year
- administered through Fringe Benefits Management (FBMC) 1-866-440-7150
Commuter Tax Save Program
ABP 403(b) and ACTS accounts
Contact the Investment Provider:
New Jersey State Deferred Compensation Program (NJSEDCP)
Supplemental Annuity Collective Trust of New Jersey (SACT)
- please contact the Division of Pensions and Benefits (609) 633-2031
Long Term Care (LTC) Insurance Plan
- please contact Prudential Insurance Co. of America 1-800-732-0416
Vacation, Sick and Float Holidays
- unused vacation will be paid out after your final paycheck
- unused float holidays are forfeited
- for staff only, ½ of unused sick time up to $15,000
For PERS and PFRS retirees, a copy of the retirement check or copy of the direct deposit statement needs to be submitted to the Campus Benefits Representative. ABP retirees need to submit a statement from the investment provider verifying the withdrawal of mandatory contributions. A request is then submitted to Payroll for payment.
Medicare 1-800-633-4227
Social Security Administration 1-800-772-1213
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