Supplemental Retirement Savings
Supplemental Retirement Savings
NJ State employees are offered the opportunity to contribute to multiple plans for additional funds pre-tax and post-tax toward retirement savings. All plans provide a broad array of investment options. Please see below for more information. Questions regarding voluntary investments can be directed to benefits@rowan.edu.
Additional Contributions Tax-Sheltered (ACTS) Program & 403(b)
The ACTS Program is a voluntary investment program that provides retirement income separate from, and in addition to, your basic pension plan. Participants choose from six carriers who offer a selection of investment choices to meet your needs and goals of retirement planning.
Forms
Please note that you must submit the Salary Reduction Agreement (SRA) form to the Office of Human Resources and contact your vendor of choice directly.
- Salary Reduction Agreement (SRA) Form - Rowan Main Campus (You will be prompted to log into Self-Service Banner)
- Investment Company Contact Information - Rowan Main Campus
- 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.
Deferred Compensation Plan 457(b)
The NJSEDCP, also called Deferred Comp, is a voluntary investment program that provides retirement income separate from, and in addition to, your basic pension plan. You can shelter a part of your wages from federal income taxes while saving for retirement. The NJSEDCP is handled by Empower (formerly Prudential). You can go to Empower's NJSEDCP website or you can call them at 1-866-NJSEDCP.
- Division of Pensions & Benefits website
- Deferred Compensation Fact Sheet
- Deferred Compensation Plan Document (Information Statement)
- Deferred Compensation Quarterly Newsletter
To complete the forms to enroll, contact the Empower representative directly (Jerard Gray 609-462-1239, jerard.gray@empower.com).
Roth Contributions
As part of the NJSEDCP, Rowan University employees have the ability to save on an after-tax basis via the 457 option.
Deferred Compensation Plan Webinars from Empower
Join Empower virtually for a series of live webinars offered to State employees enrolled in the New Jersey State Employees Deferred Compensation Plan, or employees who are interested in joining. The schedule of webinar topics, dates, and times can be found here. All webinars are hosted via WebEx and run for approximately 30 minutes with a brief Q&A afterwards.
Supplemental Annuity Collective Trust (SACT)
The Supplemental Annuity Collective Trust is available to PERS and PFRS members only. The program consists of two separate plans: the SACT-Regular Plan and the SACT-Tax-Sheltered Plan.