Pension Plan and Retirement Programs

Supplemental Annuities
In addition to basic pension plans and retirement programs, state employees may opt to participate in voluntary investment programs. These programs are described briefly below for informational purposes only. Employees desiring up-to-date information on these programs may contact the Division of Pensions and Benefits at the following web address:

www.state.nj.us/treasury/pensions/index.htm

or may contact the Benefits Office in the Division of Human Resources.

Supplemental Annuity Collective Trust Program (SACT)
The SACT Program is available to employees participating in the following pension programs: PERS, TPAF, or PFRS. Members’ contributions are invested conservatively in the stock market under the SACT Program. Employees may contribute between 1 per cent and 10 per cent of their base salaries.

Deferred Compensation Plan
Under the Deferred Compensation Plan, employees enrolled in any state retirement plan may defer between 2 per cent and 25 per cent of their salary to a maximum of $8,000. They have the opportunity to invest among four investment funds. Their account balances may be transferred in multiples of 1 per cent among the four funds a maximum of four times per calendar year.

Additional Contribution Tax-Sheltered Programs (ACTS)
The ACTS Program allows eligible PERS, PFRS and TPAF employees to obtain supplemental tax-deferred annuities within a variety of carriers through a salary reduction agreement. Participants can direct voluntary contributions among six authorized investment vendors. Each vendor provides a selection of investment choices to meet the needs and goals of retirement planning.

For further information and eligibility criteria for any of the above programs, please contact the Benefits Office in the Division of Human Resources.