Additional Contributions Tax-Sheltered Programs (ACTS), Supplemental Annuity Collective Trust of New Jersey (SACT) and NJ State Employees’ Deferred Compensation Plan (NJSEDCP) Programs are voluntary and allow for eligible employees to obtain supplemental tax-deferred annuities with a variety of providers through a salary reduction agreement. Participants can direct voluntary contributions among six authorized investment providers, each with a selection of investment choices to meet the needs and goals of retirement planning. These programs are separate from your basic pension benefit.
Supplemental Plans Eligibility and Enrollment
Montclair State University Sponsored Plan (takes effect when salary exceeds $175,000)
Montclair State University administers a 403 (b) Retirement Plan (MSU Supplemental Plan) for employees whose annual base salary exceeds $175,000. Contributions consist of a five percent (5%) employee contribution and an eight percent (8%) contribution to the MSU Supplemental Plan for that portion of the base salary of affected employees that exceeds $175,000 up to the limit imposed by the Internal Revenue Code. This Plan is administered solely by TIAA.
- The maximum contribution for 2024 is $23,000.
- Anyone turning the age of 50 by the end of the calendar year can also make “Catch up” contributions in the amount of $7,500. (Total contributions cannot exceed $30,500 for regular contributions and catch-up contributions)
State of New Jersey Sponsored Plans
Learn more about available supplement plans, including eligibility and how to enroll:
- Additional Contributions Tax-Sheltered Programs (ACTS) Fact Sheet (PDF)
- Supplemental Annuity Collective Trust of New Jersey (SACT) Fact Sheet (PDF)
- NJ State Employees’ Deferred Compensation Plan (NJSEDCP) Fact Sheet (PDF)
State of New Jersey Supplemental Plans Investment Carriers
The Benefits team and Supplemental Plans 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.
VOYA – ABP & 403(b) plans
VOYA Representative: Frank Booth, 860-573-5673, frank.booth@voyafa.com
TIAA – ABP & 403(b) plans
Financial Consultant: Nancy Vandergoot, 973-422-3731, Nancy.Vandergoot@tiaa.org
Financial Consultant: Joseph Del Grande, 201-498-8306, Joe.Delgrande@tiaa.org
VALIC – ABP & 403(b) plans
VALIC Representative: Nazma Begum, 201-273-8017, Nazma.Begum@corebridgefinancial.com
VALIC – ABP & 403(b) plans
VALIC Representative: Maryann Bradford, 732-832-5346, maryann.bradford@corbridgefinancial.com
MetLife – ABP & 403(b) plans
MetLife Representative: David Sharpe, 201-207-6694, dsharpe@financialguide.com
MetLife – ABP & 403(b) plans
MetLife Representative: Elise Ornstein, 908-487-4846, elise.ornstein@metlife.com
AXA Equitable – ABP & 403(b) plans
AXA Equitable Representative: David Lynch, 732-585-2451, david.lynch@axa-advisors.com
Mass Mutual – ABP & 403(b) plans
Mass Mutual Representative: Ira Goldberg, 848-248-4353, igoldberg@gittermanwealth.com
State of New Jersey Supplemental Plans Additional Information
For additional information, visit the New Jersey Department of Pensions and Benefits Other Programs page.
To Enroll or Make Changes
To enroll/make changes to the 403b/457b plan, please follow the below steps from the Workday homepage:
- Select the “Benefits” icon.
- Choose retirement savings
- Select Edit
- Select the date you wish to start your change/enrollment
- Search for your selected carrier
- Once you locate your carrier, you would then enter/change your percentage or dollar amount you wish to contribute per pay period.
- Confirm selection.
- Select submit.
- Review your Workday inbox to see if the event is there (if it is, select event, confirm questions, then hit submit).
Questions?
View our frequently asked questions or contact the Benefits team at HR-Benefits@montclair.edu.