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Public Employees' Retirement System (PERS)
The Public Employees' Retirement System is a defined benefit plan administered by the New Jersey Division of Pensions and Benefits. Membership in the retirement system is required as a condition of employment for:
Classified employees
Adjunct instructors at the beginning of their third consecutive semester of teaching with earnings for two semesters is equal to or over $1,500
Pension eligible employees (not eligible for ABP or PFRS)
After a new employee and employer complete an enrollment application, the completed application is sent to the Division of Pension and Benefits. The Division of Pension and Benefits will issue a Certification of Payroll Deductions that will indicate the date your pension and life insurance deductions will begin, your rate of contribution and any back deductions that are due. This Certification of Payroll Deductions will be sent to you by the Office of Human Resources.
As a New Jersey State-Administered Pension PERS member, you will have access the Member Benefits Online System (MBOS). Use your PERS membership number to register for MBOS.
MBOS is a set of Internet based applications that allow registered active members access to:
Member Account Information
Pension Loans - estimates and online loan application
Online Application for Purchase of Service Credit
Designation of Beneficiary - verification and online update
Retirement Estimates and Online Retirement Application
Application for Withdrawal
State Health Benefits Program account information
Loans
Active contributing members are eligible to borrow up to one half of their pension contribution twice per calendar year. You must have three years of pension membership credit posted to your account in the retirement system. Interest is charged at the rate of 4% per year on the remaining balance. You may obtain a loan from the retirement system through MBOS or by filing a properly completed Loan Application with the Division of Pensions and Benefits. Loan application forms are also available from the Office of Human Resources and can be faxed to the Division of Pensions and Benefits at (609) 341-2760.
Purchases
Since your retirement allowance is based in part on the amount of service credit posted to your account at the time of retirement, it may be beneficial for you to purchase additional service credit if you are eligible to do so. Only active members of the retirement system are permitted to purchase service credit. An active member is one who has made contributions to the retirement system within two years of his or her purchase request and who has not retired or withdrawn his or her contributions. Please click here for additional information on purchasing service credit. You can use MBOS to complete send your application to purchase service credit to the Division of Pension and Benefits or click here for a Purchase application.
Withdrawing Contributions
If you terminate covered employment before retirement, you may withdraw all your contributions plus a small amount of interest less any outstanding loan or other obligations. No interest is paid if you were a member for less than three years. You may withdraw only the money you have contributed and no partial withdrawal is permitted. If your membership has been inactive for two years and you have not filed for and received a withdrawal of contribution, the Division of Pensions and Benefits will send an expiration notice to your last known address (and a copy to your last employers in case they have a more current address) to remind you that your money is still in the System. Should you return to covered employment before the 2 year period ends, remember that you have the option of intra- or interfund transfer if you otherwise qualify. Should you return to covered employment after your account has expired or you have withdrawn your account, you will be treated as a new member in all respects. Service credit from a former membership may be purchased by members returning to the system after withdrawal of a former account. You can withdrawal your contributions through MBOS or click here for a withdrawal application. For more information concerning the Public Employees Retirement System (PERS), please visit the NJ Division Pensions and Benefits web site, or contact our Human Resource Office.
