Alternate Benefit Program (ABP)

The Alternate Benefit Program (ABP) is a tax-sheltered, defined contribution plan in which the retirement benefits are based on employee and employer contributions and investment performance.

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The plan provides group term life insurance coverage and LTD benefits after the vesting period. Eligibility:

  • Regularly appointed faculty
  • Visiting professors
  • Part-time lecturers
  • Managerial, Professional, Supervisory, Confidential and Administrative staff
  • Employees holding “F” or “J” visas are not eligible to enroll.

ABP Plan Overview

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For more information please visit; https://www.state.nj.us/treasury/pensions/pension-active-abp.shtml 

 

Ready for Retirement? When considering retirement, please reach out to benefits@njit.edu. Once you have made your decision to retire, you must also notify your supervisor.