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Adjunct Pension Benefits
State of New Jersey statutes require all adjuncts and part-time faculty members to participate in the Alternate Benefits Program (ABP). The Alternate Benefit Program is a tax-sheltered, defined contribution retirement program for higher education faculty and certain professional administrative staff. Members annually contribute 5% of base or contractual salary matched by an 8% employer contribution to a tax-deferred investment account. Six investment carriers are authorized to provide investment options and services in the Alternate Benefit Program. In order to enroll in ABP and select an ABP vendor, new adjuncts must fill out both an Alternate Benefit Program Enrollment Application and a Salary Agreement and Vendor Allocation Form. Adjuncts who do not complete this paperwork within the first 30 days of their hire will be placed with the ABP default vendor. This vendor rotates from year to year.
Adjuncts already enrolled in the NJ Public Employees’ Retirement System (PERS), must declare their intent to either change to ABP or remain in PERS. This decision is irrevocable and must be made by completing an Election of Retirement Coverage Form within the first 30 days of the semester. Adjuncts already in PERS who do not complete this paperwork will be switched to ABP.
Adjuncts who have already retired from a New Jersey State pension system are not affected by these rules.
The necessary forms can be picked up in the Human Resources Office or can be found by clicking the links below. Additional information concerning the ABP can be found on the Human Resources Web site. Adjuncts with questions concerning pension benefits can stop by the Human Resources Office or contact Christina Rush at either crush@tcnj.edu or extension 2730.
Alternate Benefit Program Pension Enrollment (ABP)
Salary Agreement/Vendor Allocation Form
Election of Retirement Coverage Form
