Alternate Benefit Program - New Jersey（其他福利计划u2014u2014新泽西）.pdfVIP

EA-02 17-04 17 Fact Sheet #38 A P U B L I C A T I O N O F T H E N E W J E R S E Y D I V I S I O N O F P E N S I O N S A N D B E N E F I T S Alternate Benefit Program The Alternate Benefit Program (ABP) is a tax-sheltered, defined contribution retirement program for higher education faculty and certain administrators. The ABP provides retirement benefits, life insurance, and dis- ability coverage, which — when combined with Social Security and other tax-deferred plans — can provide security in retirement. ELIGIBILITY Full-time and adjunct faculty, part-time instructors, officers, visiting professors, and certain professional admin- istrative staff required to possess a college degree or its equivalent participate in the ABP. “Full-time” is defined by statute to include anyone receiving 50% or more of base salary and may include anyone on sabbatical or paid leave of absence for a period not to exceed one year. Individuals not eligible for membership include: temporary employees (with the exception of visiting professors appointed for a school year, a semester, or a lesser period of time); faculty members temporarily in the U.S. under an F or J visa; employees in a career service title as defined by the New Jersey Civil Service Commission; employees in clerical and other nonprofessional positions; and any employee receiving a retirement benefit from any New Jersey State-administered retirement system including the ABP. The following State agencies and institutions of higher education are covered by the ABP: ATLANTIC CAPE Community College OCEAN COUNTY College BER EN Community College