LIFE INSURANCE
All full time staff members, who are members of either PERS or TPAF, are automatically enrolled a group life insurance plan with Prudential. The cost of life insurance is paid by the staff member through payroll deductions. The benefit amount payable in case of death during active employment is three (3) times the annual salary.
PENSION PLANS
Full time staff members will be automatically enrolled in the Public Employees Retirement System (PERS) or the Teachers’ Pension Annuity Fund (TPAF). These pension plans are established to provide income during retirement years. Membership in these pension plans requires a payroll contribution at a rate that is determined by the State of New Jersey Division of Pensions and Benefits. Find out more by clicking here.
Website: NJ Pension Plan
VOLUNTARY DISABILITY
Voluntary disability insurance may be purchased to replace salary during periods of extended absences due to personal illnesses. Coverage is offered through Prudential and AFLAC. Find out more by clicking on the appropriate plan below.
Disability Insurance Providers: Prudential | Aflac
VOLUNTARY RETIREMENT
Voluntary 403(b) savings plans are available to provide additional opportunities to save for retirement. Staff members may choose from eight (8) authorized investment providers. Find out more information at the website below
403(b) Retirement Investment Provider: TSA Group