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State of New Jersey Department of the TreasuryDIVISION OF PENSIONS & BENEFITS DEFINED BENEFIT & DEFINED CONTRIBUTION BUREAU FP09520120P.O. Box 295, Trenton, NJ 086250295ALTERNATE BENEFIT PROGRAM.

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A defined contribution plan, on the other hand, does not promise a specific amount of benefits at retirement. In these plans, the employee or the employer (or both) contribute to the employee's individual account under the plan, sometimes at a set rate, such as 5 percent of earnings annually.

Those employees working less than 32 hours per week, with an annual salary greater than $5,000 will be enrolled in the DCRP at a rate of 5.5% with an employer match of 3%. This program is mandatory and is managed by Prudential Retirement.

about tHe desiGnation of beneficiary form The Designation of Beneficiary form allows a member of a New Jersey Alternate Benefit Program (ABP) or Defined Contribution Retirement Program (DCRP) to nominate a beneficiary, or bene- ficiaries, for benefits payable upon the death of that member.

The Defined Contribution Retirement Program (DCRP) was established July 1, 2007, under the provisions of N.J.S.A. 43:15C-1 et seq. The DCRP provides eligible members with a tax-sheltered, de- fined contribution retirement benefit, along with life insurance and long-term disability coverage.

The amount of your annual pension will be equal to 65 percent of your Final Compensation plus 1 percent for each year of service over 25 years but not to exceed 30 years.

Eligibility. DCRP membership is for employees who do not earn the minimum salary or work the minimum hours required for enrollment in the Public Employees' Retirement System (PERS).

If you have ended your New Jersey public employment, are not planning to return, and are not eligible to retire, you may withdraw your pension contributions. To withdraw the balance in a lump sum, you must no longer be working in any covered position.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232