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Pension - DCRP

Defined Contribution Retirement Program (DCRP)
 
The Defined Contribution Retirement Program (DCRP) is the newest pension system for those ineligible for enrollment in the Public Employees Retirement System (PERS) or Teachers Pension and Annuity Fund (TPAF) for one of the following reasons:

Employees ineligible for enrollment (after May 21, 2010) in Tier 4 and 5 of the PERS or TPAF because the hours of work are fewer than those required for membership (35 hours per week for State employees; 32 hours or more per week for Local Government or State/Local Education employees); but who earn a salary of at least $5,000 annually.

Employees ineligible for enrollment in Tier 3 of the PERS or TPAF because the minimum annual salary is less than that required for PERS or TPAF enrollment ($7,700 in 2010, subject to adjustment in future years)

Employees in the categories listed above must earn at least $5,000 to be enrolled.

The Defined Contribution Retirement Program (DCRP) is presently administered for the Division of Pensions and Benefits by Prudential Financial

Prudential makes DCRP information, including information about distribution options, available on its New Jersey Defined Contribution Program Web site: www.prudential.com/njdcrp Members wishing to contact Prudential Financial by phone can use Prudential's Toll-Free Phone Number: 1-866-653-2771.

Those automatically enrolled will be contacted directly by Prudential with information about distribution options.