Employers' Pensions and Benefits Administration Manual (EPBAM)



Information by Employer Task


Retiring from the
Defined Contribution Retirement Program (DCRP)

  Retirement Information
General Retirement Information  
Minimum Retirement Age  
Distribution Options  
Delayed Vesting Status and Retirement  
Returning to Employment after Retirement from the DCRP  
Group Life Insurance Coverage in Retirement  
Conversion of Group Life Insurance  
Administrative Services Provider Contact Information  
  Enrollment in the DCRP  
  Forms and Publications  
Fact Sheet 79, Defined Contribution Retirement Program (PERS and TPAF Members)  
Fact Sheet 80, Defined Contribution Retirement Program (Elected/Appointed Officials)  
NJ DCRP Enrollment Application  
ABP/DCRP Designation of Beneficiary Form  
NJ DCRP Waiver of Retirement Program Participation for Elected or Appointed Officials  
NJ DCRP Waiver of Retirement Program Participation for Employees Enrolled in the PERS or TPAF  
Election to Participate in the DCRP for PERS or TPAF Employees Who Previously Waived DCRP Enrollment  
NJ DCRP Transmittal of Local Government Ordinance or Resolution  


General DCRP Retirement Information

DCRP members should be advised to contact both their employer and the DCRP administrative services provider, Prudential Financial, six months before their planned retirement date, to get information about DCRP benefits and options.

Administrative Services Provider Contact Information

The present administrative services provider, Prudential Financial, makes Plan information, including information about retirement distribution options, available on its New Jersey Defined Contribution Program Web site, at: www.prudential.com/njdcrp

DCRP employers should contact Prudential through the dedicated e-mail link for any questions they may have during the program's implementation. This will allow Prudential to monitor inquiries and responses more efficiently. The special email address established to respond to any employer questions and/or inquiries is DCRP@prudential.com  Employers should include both telephone and e-mail contact information with their inquiry. Employers should expect a response to their e-mail within 2 business days of their inquiry.

Members wishing to inform Prudential Financial about their intent to retire should call Prudential's toll free phone number: 1-866-653-2771 (1-866-NJDCRP1).

DCRP Minimum Retirement Age

Under the DCRP there is no minimum retirement age; the member will automatically be considered retired when there is any distribution of mandatory contributions, regardless of age.

DCRP Retirement Distribution Options

DCRP members may elect to receive all or a portion of their account in a lump-sum distribution or in a variety of periodic payment methods. DCRP members should contact their administrative services provider for more information about the distribution options that are available.

Members choosing a distribution option should be made aware that all returns of contributions and earnings are considered taxable distributions in the year they are received.

Members with Delayed Vesting Status Ineligible for DCRP Retirement Distribution

Members having a delayed vesting status who become ineligible to continue participation in the DCRP before commencing a second year of membership (e.g., their appointment ends) are not eligible to receive a DCRP retirement distribution. Members having a delayed vesting status may apply for a refund of their DCRP employee contributions ONLY. Employer contributions will revert back to the employer.

For more information about vesting in the DCRP for elected and appointed officials, click here.

For more information about vesting in the DCRP for eligible PERS and TPAF members, click here.

Returning to Public Employment after Retirement from the DCRP

A DCRP member is considered retired once he or she begins to take a retirement distribution. If the retired member returns to public employment in New Jersey after retiring from the DCRP, he or she may draw a salary for that employment but may not enroll in any State-administered retirement system.

Member Group Life Insurance Coverage in Retirement

At retirement, group life insurance coverage under the DCRP reduces to 3/16 of the annual base salary on which DCRP contributions were based.

Group life insurance in retirement is available to:

  • Members age 60 or older if the member has completed 10 years of participation in the DCRP; or
  • Members of any age who have completed 25 years of DCRP participation;

In addition to meeting one of the two conditions above, the member must have been an active employee in the twelve months immediately preceding the initial receipt of a retirement annuity payment.

Conversion of Group Life Insurance (For Elected and Appointed Officials ONLY)

Other than the retired insurance benefit described above, life insurance coverage under the DCRP ceases 31 days after termination of employment. During the 31-day period following termination of employment, a member may convert existing group life insurance coverage, less any amount of coverage carried over into retirement, into an individual whole life policy, without medical examination. For more information, see Fact Sheet #13, Conversion of Life Insurance.

Additional Information

The fact sheets below provide additional information regarding the Defined Contribution Retirement Program:

DCRP Forms Available




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Last Updated: July 21, 2008