CODE:   30-01-40-75:00            EFFECTIVE DATE:   07/01/90            REVISION DATE:   00/00/00        LAST REVIEWED:  12/20/04

PURPOSE:   To set policy regarding Supplemental Annuity Collective Trust of New Jersey.

RESPONSIBILITY:   The Vice President for Human Resources is to ensure compliance with this policy.

POLICY:
 
The University offers its eligible (members of the Public Employees' Retirement System) staff member two (2) annuity options under the Supplemental Annuity Collective Trust of New Jersey.

The two options are:

Supplemental Variable Annuity Program
 
Participation is based on being a member of a New Jersey State administered pension plan.

Participant may contribute up to ten percent (10%) of base salary which can be invested principally in common stocks and other equity securities. No withdrawals are permitted while an active staff member.
 

New Jersey State Employees Deferred Compensation Plan
Participant must be employed at least twelve (12) months or already enrolled in a pension plan. He/she can contribute up to an annual tax deferred limit. Contributions may be invested in a Bond Fund, Equity Fund, Money Market Fund and Small Capitalization Equity Fund.

 

Contact your campus Human Resources representative for the completion of the necessary enrollment forms.

by direction of the President

Vice President for Human Resources