1 Pensions & Benefits public Employees'. retirement system (PERS). Member Guidebook SP-0333-0718. public employee 's retirement system Table Of Contents Supplementing your Pension.. 23. PERS General Information.. 3 Overview .. 24. Foreword .. 4 Retirements.. 25. The retirement system .. 4 Overview .. 26. Contacting the New Jersey Division of Types of retirement .. 26. Pensions & Benefits (NJDPB) .. 4 Optional Settlements at retirement .. 30. Plan Information.. 5 The retirement Process .. 31. Eligibility.. 6 Reduction or Suspension of Your Benefits.. 35. Membership.. 7 Employment After retirement .. 35. Part-time Crossing Guards.. 8 Active and Retired Death Benefits.. 36. Elected or Appointed Officials .. 8 Overview .. 37. Enrollments .. 9 Choosing a Beneficiary .. 38. Overview .. 10 Payment of Group Life Insurance.. 38. Multiple and Dual Membership.. 11 Group Life Insurance and Transfers.. 12 Leave of Absence.
2 38. Service Credit .. 13 Taxation of Group Life Insurance Premiums .. 39. Vesting.. 13. Waiving Noncontributory Group Purchasing Service Credit.. 14. Life Insurance over $50,000.. 39. Overview .. 15. Conversion of Group Life Insurance.. 40. Types of Service Eligible for Purchase.. 15. Accidental Death Benefit.. 40. Important Purchase Notes.. 16. Withdrawal.. 42. Cost and Procedures for Overview .. 43. Purchasing Service Credit.. 16. Withdrawing Contributions.. 44. Applying to Purchase Service Credit.. 17. Workers' Compensation.. 44. Loans .. 19. Appeals.. 46. Overview .. 20. Overview .. 47. Applying for a Loan .. 20. Internal Revenue Service (IRS). Requirements.. 21. PERS Member Guidebook July 2018 Page 2. PERS General Information public employee 's retirement system FOREWORD New Jersey Division of Pensions & Benefits Health Benefits Program (SHBP) or School Employees'. ATTN: Office of Communications Health Benefits Program (SEHBP) is also available.
3 The New Jersey public Employees' retirement Sys- Box 295. tem (PERS) Member Guidebook provides a summary Retirees may use MBOS to: view retirement account Trenton, NJ 08625-0295. description of the benefits of the plan and outlines the information; update an address; change direct deposit rules and regulations governing the plan. The PERS THE retirement system information; change a beneficiary designation; or up- Member Guidebook should provide you with all the in- The State of New Jersey established the PERS in 1955 date federal and/or New Jersey State income tax with- formation you need about your PERS benefits. How- to replace the former State Employees' retirement holding. ever, if there is a conflict with statutes governing the system . The NJDPB is assigned all administrative Before you can begin using MBOS, you must be reg- plan or regulations implementing the statutes, the functions of the retirement system except for invest- istered with MBOS and the MyNewJersey website.
4 Statutes and regulations will take precedence. Com- ment. Registration information can be found on the NJDPB. plete terms governing any employee benefit program The PERS Board of Trustees has the responsibility website. are set forth in the New Jersey Statutes Annotated. for the proper operation of the retirement system . The Regulations, new or amended, are published in the If you need assistance registering for MBOS, call Board consists of six employee representatives, the New Jersey Register by the State Office of Adminis- the MBOS Help Line at (609) 292-7524 or send State Treasurer, and two individuals appointed by the trative Law supplementing the New Jersey Admin- an email with the subject line MBOS Email to: Governor with the advice and consent of the Senate. istrative Code. This Guidebook , containing current The Board meets once per month. A PERS Member updates, is available for viewing on our website at: who wishes to be a candidate upon a vacancy for the Telephone Numbers While at the New Jer- PERS Board of Trustees must be nominated by peti- sey Division of Pensions & Benefits (NJDPB) website, For computerized information about your individ- tions bearing the signatures of 500 active members.
5 Be sure to check for PERS-related forms, fact sheets, ual pension account 24 hours a day, seven days Nominating petition forms, along with instructions and news affecting the PERS. a week, call our Automated Information system at for filing, are available upon written request to the (609) 292-7524. With Interactive Voice Response Addenda guidebooks have been created for the Law New Jersey Division of Pensions & Benefits, Secretary and added services, all you need is your Social Enforcement Officers, Legislative retirement system , of the PERS Board of Trustees, Box 295, Trenton, Security number and membership number to hear Prosecutors Part, and Workers' Compensation Judges NJ 08625-0295. personalized benefits information on purchases, Part, which are components of the PERS, but have sig- CONTACTING THE NEW JERSEY retirement benefits, and withdrawal. nificantly different benefits. The addenda are available for viewing on our website.
6 DIVISION OF PENSIONS & BENEFITS (NJDPB) To speak with a representative about your PERS. account or health benefits account, call (609) 292- The purpose of this Guidebook is to provide you with Member Benefits Online system 7524 weekdays between 7:00 and 4:30 information about the retirement system to assist you The Member Benefits Online system (MBOS) allows (except State holidays); hours are extended until in making decisions concerning you and your family's registered PERS members access to their pension 6:45 on Thursdays. If you require the services future. If you have questions concerning your retire- and, if applicable, health benefits account information of a relay operator please dial 711 and provide the ment system benefits, please see the Contacting the online. Resources available through MBOS include: operator with the following phone number, (609). State of New Jersey Division of Pensions & Benefits Member account information; beneficiary designation; 292-6683.
7 You will then be connected to a Client (NJDPB) section. pension loan; purchase of service credit; withdrawal Services phone representative for assistance. Since this is your Guidebook , we would appreciate any application and retirement applications. If applicable, To speak with a plan representative about the comments or suggestions for improvement that you account information for the New Jersey State Employ- NJSEDCP, also known as Deferred Comp, call might have. Please send them to the address listed ees' Deferred Compensation Plan (NJSEDCP), Sup- Prudential at 1-866-NJSEDCP (1-866-657-3327). below: plemental Annuity Collective Trust (SACT), and State weekdays between 8:00 and 9:00 (ex- PERS Member Guidebook July 2018 Page 4. public employee 's retirement system cept State holidays). A plan representative will an- PLAN INFORMATION Plan Year swer your questions and provide enrollment and For record-keeping purposes, the plan year is July 1.
8 Distribution forms. Name of Plan through June 30. To speak with a plan representative about the The public Employees' retirement system of New Jer- SACT, call (609) 292-7524 weekdays between sey (PERS) Service of Legal Process 7:00 and 4:30 (except State holidays). Legal process must be served on the Attorney General Administration SACT representatives will answer your questions of New Jersey pursuant to New Jersey Court Rules, R. and provide enrollment and distribution forms. The PERS is a defined benefit plan administered by the 4:4-4(7). New Jersey Division of Pensions & Benefits (NJDPB). Internet, Email, and Mailing Address Employment Rights Not Implied Provisions of Law General information and most publications of the Membership in the PERS does not give you the right to NJDPB can be found on the NJDPB website. You can The PERS was established by New Jersey Statute and be retained in the employ of a participating employer, email the NJDPB at: can be found in the New Jersey Statutes Annotated, nor does it give you a right of claim to any benefit you Title 43, chapter 15A.
9 Changes in the law can only be have not accrued under terms of the system . Our postal address is: made by an act of the State Legislature. Rules govern- New Jersey Division of Pensions & Benefits ing the operation and administration of the system may Box 295 be found in Title 17, Chapters 1 and 2 of the New Jersey Benefits and provisions of the PERS are subject Trenton, NJ 08625-0295 Administrative Code. to changes by the legislature, courts, and other officials. While this Guidebook outlines the ben- On all correspondence, be sure to include your mem- Funding efit and contribution schedules of the PERS, it is bership number or the last four digits of your Social Se- not a final statement. Complete terms govern- curity number. The funds used to pay benefits come from three sourc- ing any employee benefit program are set forth es: employer contributions, employee contributions, Counseling Services in the New Jersey Statutes Annotated.
10 Regu- and investment income from those contributions. All lations, new or amended, are published in the The NJDPB offers counseling services to members of contributions not required for current operations are in- New Jersey Register by the State Office of Ad- the retirement systems and benefit programs. Coun- vested by the State Division of Investment. ministrative Law supplementing the New Jersey selors are available by appointment Monday through Administrative Code. Friday, 8:00 to 4:00 (with the last interviews taken at 3:30 ). Walk-in counseling services are also available on a first come, first served basis; how- ever, clients with scheduled appointments will be seen first. Therefore, it is recommended you make an ap- pointment. Appointments can be made on our website. Page 5 July 2018 PERS Member Guidebook Eligibility public employee 's retirement system MEMBERSHIP imum pensionable salary of $1,500.