1. Members of the Alternate Benefits Program (ABP) are eligible to make additional voluntary tax-deferred contributions, up to the annual tax deferral limit, in the Alternate Benefits Program 403(b). You may elect to use your present investment provider or choose from any of the six authorized investment providers that are contracted by the State of New Jersey- Division of Pensions and Benefits. Each investment provider offers a variety of investment choices to meet the needs and goals of retirement planning.


2. Employees who normally work 20 or more hours per week and employees who are retired and are receiving retirement allowances from a New Jersey State pension system are eligible for enrollment in the Additional Contributions Tax-Sheltered (ACTS) Program 403(b). Participants can direct voluntary contributions into any of the six authorized investment providers that are contracted by the State of New Jersey- Division of Pensions and Benefits. Each investment provider offers a variety of investment choices to meet the needs and goals of retirement planning.


3. Employees presently enrolled in a pension plan or at least have 12 months of continuous employment are eligible to enroll in the New Jersey State Employees Deferred Compensation Plan (NJSEDCP) 457. Employees may elect a percentage of their base salary to be tax deferred up to the annual tax deferral limit. The NJSEDCP is administered by Prudential Financial with a variety of investment options.

Annual Tax Deferral Limits for 2007
In 2007, you may be able to contribute up to $15,500. If you attain age 50 in 2007 or are age 50 or over, you can contribute up to an additional $5,000 for a total of $20,500. If you have 15 or more years of service at the University, you may be able to contribute an additional $3,000.

If you wish to enroll in the voluntary 403(b) plan for the Alternate Benefits Program (ABP) or the Additional Contributions Tax Sheltered (ACTS), please contact the investment provider directly.

If you are already enrolled in the 403(b) ABP or ACTS, program and would like to make changes to your biweekly contribution and annual limit please complete a new Salary Reduction Allocation Agreement Form. Mail it to your Campus Benefits Office.

For information on enrollments in the NJ State Employee’s Deferred Compensation Plan (NJSEDCP) please contact Prudential Financial at 866-657-3327 or enroll on line at https://www.retirement.prudential.com/njsedcp/default.html.