Defined Contribution Retirement Program Eligibility
The Defined Contribution Retirement Program (DCRP) provides eligible employees with a tax-sheltered, defined contribution retirement benefit. Eligibility varies based on employment status:
Temporary Employees
- Must hold a civil service title
- Work less than 35 hours per week
- Earn a minimum annual salary of $5,000
- Eligible for DCRP after one year of employment
Permanent Part-Time Employees
- Must hold a civil service title
- Work less than 35 hours per week
- Earn a minimum annual salary of $5,000
- Eligible for DCRP as of the date of hire
All Full-Time Employees
- Must be enrolled in PERS or PFRS
- Annual salary must exceed the IRS maximum pensionable compensation limit
- DCRP enrollment is option. To enroll, please send an email to benefits@montclair.edu
Defined Contribution Retirement Program Contributions
- Employee Contribution:
- 5.5% of base salary made on a pretax basis
- Employer Contribution:
- 3% employer match
Defined Contribution Retirement Program Vesting
- Vesting:
- 1 Year or immediate, if applicable
How to Enroll in the Defined Contribution Retirement Program
If eligible, employees will be contacted by a member of the Benefits team.
For more information, view the New Jersey Division of Pension and Benefits website.