Retirement and Investments

Retirement and Investments

Full-Time employees of Rowan University are required to contribute to a NJ State Retirement Program. Please see program information pertaining to your employee classification as you are only eligible for enrollment into the plan associated with your title. All new hires should complete the Affidavit of Pension form. Questions regarding pension plans or retirement can be directed to Jillian Itri (itri@rowan.edu or 856-256-4500, ext. 53365).

Retirement Plans

Public Employees Retirement System (PERS)

PERS Enrollment Form

The Public Employees Retirement System (PERS) enrollment is mandatory for those employed as professional staff, CWA union affiliates, security officers, or IFPTE union affiliates. PERS is a tax-sheltered defined benefit pension system for certain higher education professional staff and civil service employees.  PERS provides retirement benefits and life insurance which can help provide security in retirement.  Employees contribute 7.5% pre tax.  Once enrolled you will have the ability to access your funds through the Members Benefit Online System (MBOS). 

PERS Notice of Election - State

Members Benefits Online System (MBOS)

Access your account information online! All PERS members should register for their Members Benefits Online account using the below link. Using this online system, you will be able to update your beneficiary information, apply for pension loans, and review your benefits offered through the state.

Register and log on to MBOS here.

Alternate Benefit Program (ABP)

The Alternate Benefit Program (ABP), enrollment is mandatory for those employed as faculty, adjuncts, managerial staff, and AFT union affiliates.  This plan 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. Employees contribute a set 5% pretax and Rowan University contributes 8%.  You will want to choose one of the 7 state approved companies to manager your funds. Please make sure you reach out to the company representatives directly to set up your portfolio.

Enrollment

To enroll in the Alternate Benefit Program, enroll please complete the below ABP enrollment application and vendor election form and submit to HR within 2 weeks of your hire date.  You will also want to reach out to your investment company and complete additional paperwork with them.

  • ABP Application
  • Investment Company Election Form
  • Beneficiary Designation  - Original beneficiary form must be submitted, copies of the form are not acceptable.
  • Review Plan Benefits
  • Investment Company Comparison- You are required to elect a vendor to manage your funds. Once you have elected your company please contact them directly, using the below contact form, to set up your account portfolio
  • Investment Company Contact Information
    • As part of the USA Patriot Act, the pension vendors are required to have a residential address on file for your account/s. If you have only a P.O. Box number on file, please note that you may be contacted by the vendor to provide a residential address. You may also be proactive and contact the vendor directly to make the address change.
  • ABP Pension Loan Info- if you are applying for a loan from your 401(a) or 403(b) you should contact your vendor representive for the appropriate forms and submit to hr@rowan.edu. Please allow 3-5 days for processing. 

TIAA Q3 Webinar Schedule

Police and Firemen's Retirement System (PFRS)

The Police and Firemen's Retirement System (PFRS) is available to those employed as Campus Police Officers or Police Recruits.

Members Benefits Online System (MBOS)

Access your account information online! All PERS members should register for their Members Benefits Online account using the below link. Using this online system, you will be able to update your beneficiary information, apply for pension loans, and review your benefits offered through the state.

Register and log on to MBOS here.

Defined Contribution Retirement Program (DCRP)

The Defined Contribution Retirement Plan (DCRP) is a retirement program which may provide retirement benefits, life insurance, and disability coverage. Enrollment is mandatory for part-time employees. Employees contribute 5% pre-tax and Rowan University matches 3%.  Your investments are held with Empower Financial.

To enroll in the SCRP, please complete the Enrollment Application and contact Empower Financial directly to set up your account.

FACT SHEETS

Finding Your Retirement Membership ID

To find your Retirement System Membership number, follow the below steps:

  1. Log into Self-Service Banner.
  2. Select the Employee Tab, then Employee Dashboard.
  3. Select Benefits, then Current Enrollment.
  4. Select Retirement Membership Number.

Applying to Retire from Rowan

Click here for more information on applying to retire from Rowan University.

Supplemental Retirement Savings

Click here for more information on supplemental investments available to Rowan University employees.

Contacting the Division of Pension and Benefits

When contacting the NJ State Division of Pensions and Benefits, please see below for multiple ways to reach out. 

To ensure security and to avoid delays in response, please contact the NJDPB only through the following communication channels:

These methods of communication are also conveniently accessible on the NJDPB Contact Information web page: https://nj.gov/treasury/pensions/contact.shtml

Seminars and Webinars for PERS, TPAF, PFRS, or DCRP members

November 2024 State Webinar Schedule