Information for Prospective Retirees

Alternate Benefits Program (ABP)
Public Employees’ Retirement System (PERS)
Police and Firemen’s Retirement System (PFRS)

ABP

PERS

Seminars and Webinars for PERS members:

The New Jersey Division of Pensions & Benefits provides seminars and webinars for members. Topics include Retirement Planning, PERS Retirement Estimates, PERS Pension Options, submitting an MBOS Retirement Application, and Understanding your Pension Benefits

Seminars/Webinar

PFRS

ABP Checklist:

4-6 months before retirement:

Determine last working day (Retirement date will be the first of the month subsequent to the last day worked)
Notify your department and HR/Benefits in writing of your intent to retire
Request information about payout options from your investment carrier
Minimum distribution required within 30 days of retirement date
Contact the Division of Pensions and Benefits for Audit of Pension Credited Service Time and health rates at 609-292-7524 (Optional)
Contact the Social Security office, if you plan to enroll at 1-800-772-1213
Submit an address change in Workday, if your home address will change before you retire

3 -2 months before retirement

Anyone 65 or older, including dependents must enroll in Medicare Part A and Part B.
ABP members, return the completed forms listed below to hr-benefits@montclair.edu. Ensure that all fields are fully completed, including signature and full social security number.
- Application for Retirement Form
  - Part 1: Terms and Conditions of Retirement – please review
  - Part 2: Member Information
  - Part 3: Designate Group Life Insurance Beneficiary
- Withdrawal Request Acknowledgement Receipt ABP
  - Confirming you contacted your financial advisor to withdraw $1,000 distribution
    - Note: Employee’s are considered retired once they have elected to receive a 1k cash distribution.

1 – 0 Month before Retirement

Contact Prudential at 1-855-364 7783 if you are interested in converting your life insurance
- This must be done no later than 31 days after your retirement
You will receive a letter from the NJ Divisions of Pension and Benefits explaining your eligibility and any required information needed at that time.
For more information regarding your retirement benefits eligibility, please contact the State directly at 609-292-7524 or email at pensions.nj@treas.state.nj.us

PERS Checklist:

4-6 months before retirement:

All Retirement Applications must be submitted via MBOS
Determine last working day (Retirement date will be the first of the month subsequent to the last day worked)
Notify your department and HR/Benefits in writing of your intent to retire
Contact the Division of Pensions and Benefits for Audit of Pension Credited Service Time and health rates at 609-292-7524 (Optional)
Contact the Social Security office, if you plan to enroll in Social Security at 1-800-772-1213
Submit an address change in Workday if your home address will change before you retire

3 -2 months before retirement

Anyone 65 or older, including dependents must enroll in Medicare Part A & B and return certified forms to Social Security
If enrolled in a Supplemental Retirement plans (403b or Deferred Compensation) request information about payout options from your investment carrier, if applicable

1 – 0 Month before Retirement

You will receive an approval letter from the Division of Pensions and Benefits confirming your Retirement
You will receive a Quotation of Retirement Benefits from the Division of Pensions and Benefits which will indicate your monthly retirement allowance

PFRS Checklist:

4-6 months before retirement:

All Retirement Applications must be submitted via MBOS
Determine last working day (Retirement date will be the first of the month subsequent to the last day worked)
Notify your department and HR/Benefits in writing of your intent to retire
Contact the Division of Pensions and Benefits for Audit ofPension Credited Service Time and health rates at 609-292-7524 (Optional)
Contact the Social Security office, if you plan to enroll in Social Security at 1-800-772-1213
Submit an address change in Workday, if your home address will change before you retire

3 -2 months before retirement

Anyone 65 or older, including dependents must enroll in Medicare Part A & B and return certified forms to Social Security
If enrolled in Supplemental Retirement plans (403b or Deferred Compensation), request information about payout options from your investment carrier, if applicable

1 – 0 Month before Retirement

You will receive an approval letter from the Division of Pensions and Benefits confirming your Retirement
You will receive a Quotation of Retirement Benefits from the Division of Pensions and Benefits which will indicate your monthly retirement allowance