CHSS Social Work Faculty

Alternate Benefit Program (ABP)

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 $141,000 ($11,280) based on the state of NJ regulation

Alternate Benefit Program Vesting

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.

Prudential – ABP & 457 plans
Prudential Representative: Alicia Smith, 732-428-2314alicia.smith@prudential.com

VOYA – ABP & 403(b) plans
VOYA Representative: Frank Booth, 860-573-5673frank.booth@voyafa.com

TIAA – ABP & 403(b) plans
TIA Representative: Tatiana Novozhilova, 201-498-8343tatiana.novozhilova@tiaa-cref.org

TIAA – ABP & 403(b) plans
TIA Representative: Zaki Saoud, 201-498-8345zaki.saoud@tiaa-cref.org

VALIC – ABP & 403(b) plans
VALIC Representative: Henry Falquez, 973-513-0400henry.falquez@valic.com

VALIC – ABP & 403(b) plans
VALIC Representative: Richard Grofsick, 973-902-8488richard.grofsick@valic.com

MetLife – ABP & 403(b) plans
MetLife Representative: David Sharpe, 973-575-3254dsharpe@financialguide.com

MetLife – ABP & 403(b) plans
MetLife Representative: Elise Ornstein, 908-487-4846elise.ornstein@metlife.com

AXA Equitable – ABP & 403(b) plans
AXA Equitable Representative: David Lynch, 732-585-2451david.lynch@axa-advisors.com

Mass Mutual – ABP & 403(b) plans
Mass Mutual Representative: Ira Goldberg, 848-248-4353, igoldberg@gittermanwealth.com

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 benefits@montclair.edu.

Alternate Benefits Program Additional Information

For additional information, view the NJ State Department of Pensions and Benefits Alternate Benefit Program page.