The Alternate Benefit Plan (ABP) is a tax-sheltered, defined contribution retirement program for certain higher education faculty, instructors, and administrators. ABP provides retirement benefits, life insurance and disability coverage, which can help provide security in retirement.
Alternate Benefit Program Eligibility
You may be eligible to enroll in the Alternate Benefit Program if you meet one of the following criteria:
- Regularly appointed faculty
- Visiting professors
- Part-time lecturers
- Managerial, Professional, Supervisory, Confidential and Administrative staff
Please note that employees holding “F” or “J” visas are not eligible to enroll.
Alternate Benefit Program Mandatory Contributions
- Employee Contribution:
- 5% of base salary made on a pretax basis
- Employer Contribution:
- 8% employer match of employees’ base salary up to an annual salary of $175,000 ($14,000) based on the state of NJ regulation
Alternate Benefit Program Vesting
- 1 Year or Immediate Vesting, if applicable
- Immediate Vesting:
- A new employee who already owns a retirement contract containing employer and employee contributions due to higher education employment or a new employee who is an active or vested member of another state-administered retirement system in the U.S. is considered vested
Alternate Benefits Program Investment Carriers
The Benefits team and ABP investment carriers offer retirement planning counseling sessions and workshops on campus throughout the year. View the Benefits Workshops page for additional information.
You can also contact plan representatives for individual investment counseling and questions via the below contact information.
TIAA – ABP & 403(b) plans
- Financial Consultant: Zaki Saoud, 201-498-8345, Zaki.Saoud@tiaa.org
- Financial Consultant: Nancy Vandergoot, 973-422-3731, Nancy.Vandergoot@tiaa.org
Alternate Benefit Program Forms
To change your investment carrier allocation in the Alternate Benefit Program, complete the ABP Investment Carrier Allocation Form (PDF).
To change beneficiary designation for the Alternate Benefit Program, complete the Designation of ABP Beneficiary Form (PDF).
Please email any completed forms to firstname.lastname@example.org.
Alternate Benefits Program Additional Information
For additional information, view the NJ State Department of Pensions and Benefits Alternate Benefit Program page.