Thinking about retirement?
It may have crossed your mind a few times but you just are not sure. Well there are many ways we can help. As a member of NJEA you are entitled to a free retirement consultation. By calling your NJEA UniServ office at (732) 287-4700 and scheduling an appointment for a "Retirement Consultation" you are headed in the right direction.
Your county association, MCEA holds several workshops during the year, again FREE to members. These workshops will help you make that very important decision a little easier and prepares you for a future retirement. Workshop dates can be found on the MCEA website as well as on this site when available (workshops are usually held in the fall, winter and spring).
The Division of Pension & Benefits in Trenton hold several retirement workshops and webinars throughout the year. Please refer to the Division of Pension & Benefits Retirement Workshops & Webinars web page for more information.
We are also here to help you all year long. Just call our office and we will be glad to answer and questions you may have to help you make your decision.
Useful Links:
- All EBPS employee should be registered on the Member Benefits Online System (MBOS). Your TPAF/PERS statements are no longer mailed so your Pension Statements can only be found online. You will need to be a MBOS member to file for retirement or make withdrawals/changes to your pension.
- EBBOE/EBEA Contract - Please see Article V: Notification of Return/Dismissal Procedure regarding an additional compensation if a retirement notification is received by January 15 for a July 1 seperations.
- As an NJEA member you have access to the NJEA Retirement Resources page.
- State of NJ Division of Pension & Benefits: Chapter 78, P.L. 2011 - Pension Changes for the Public Employees' Retirement System (PERS) and Teachers' Pension and Annuity Fund (TPAF)
- Retirement Planning Booklet
- State of NJ Teachers' Pension and Annuity Fund (TPAF) Member Guidebook
- State of NJ Public Employees' Retirement System (PERS) Member Guidebook
- State of NJ Division of Pension & Benefits: FACT Sheets - useful information to review when deciding what the right steps are for you. (Retirement, Enrollment, Purchasing of Service & Pension Loans, Health Benefits, Tax Saving Plans, Defined Contribution Plans, Withdrawal, Life Insurance, Death Benefits, etc.) As well as important information such as Retirement Employment Restrictions (updated 11/2019)
- Medicare enrollment is required within 3-months prior/after your 65th birthday. You can applying for PART A if you are still employed, and then apply for PART B 90-days prior to retirement. Make the most of your Medicare by signing up, and to get important reminders and information regarding Medicare Benefits that will be available to you. Also view FACT Sheet #23 Health Benefits Program and Medicare Parts A & B for Retirees (updated 2/2022)
- Health Benefit Coverage: FACT Sheet 11 (2/2020) has useful information on enrolling as a retiree for the School Employee Health Benefit Program (SEHBP). You also have the option to continue your currently health benefits through the district plan, for information on doing so please contact the Payroll/Employee Benefits department at (732) 613-6758.
Workshops/Webinars:
- MCEA XYZ's of Retirement - for registration information and dates please visit our Member Events webpage - available to members only
- NEA Retirement Program - Visit the National Education Association website for more information. Available to members only
- NJEA Retirement Planning - Your "My NJEA" page has information that can direct you to webinars and resources that will assist you.
- New Jersey Division of Pension & Benefits (NJDPB) is pleased to offer the PERS & TPAF Retirement Series! Designed for members interested in retirement planning information while focusing on one topic at a time. For a list of webinar opportunities visit the NJDPB Webinars & Seminars for Members.
How to Run a Retirement Estimate is designed to show PERS & TPAF members how to do a retirement estimate using the Member Benefits Online System (MBOS) and the website Long-Range Calculator. We will view a sample estimate with pension payment options available to PERS & TPAF members. This webinar is approximately 25 minutes in duration and includes a brief Q&A period.
Live Webinars are hosted by GoToMeeting and can be attended from your own computer without the need to travel. Attendees must register by clicking on the Registraton link in the attached flyer.
Members who are unable to view the webinar in real time may view a recorded version located in our Video Library at their leisure.
If you have questions or concerns about the content of this message, contact the NJDPB at: pensions.nj@treas.nj.gov or go to: www.state.nj.us/treasury/assets/contact/pensions/contact-pensions.shtml
What's next:
- Once you know your retirement date (first day of the month), you will be required to supply a letter to Human Resources notifying them of your intention to retire. It is not necessary but is recommended, that you make an appointment with D.Ruggiero, Director of Human Resources, to personally hand her your letter. Once your letter is submitted and Board approved, this process is not reversible.
- File for retirement via Member Benefits Online System (MBOS) and follow through with all required documents and paperwork. Doing this at least three months before your retirement date is highly recommended to be sure all required information is completed and that you receive your pension payment at the start of your retirement month, a delay will cause your pension payment to be delayed as well. Once you complete your online submission through MBOS the district is also notified of such but you are eligible to change your retirement date with the State should things change, but not with the district.
Where can I find out about Death Benefits:
- NJEA/NJREA Assistance for Survivors 2020 - please note these suggestions are general and should be adapted to your particular situation through family conversations and conferences with legal and/or financial advisors.
- NEA Life Insurance - as an active member you are entitled to a NEA Complimentary Life Insurance policy, be sure your policy has updated with your current beneficiary information. And should you have purchased additional insurance from NEA you will need to be sure you have all the information you need before retirement.
Retiree Associations
Stay informed after retirement by joining the group that is changing the face of retired public school employees…the New Jersey Retirees' Education Association.
New Jersey Retirees' Education Association Application
NEW!
Retire from your position, not your profession! Did you know you can start paying for your NJREA Life membership now? That's right, start paying toward your NJREA membership now and lock in the current membership rate. Contact NJE A Membership for details, call: (609) 4599-4561, ext 4123, email: njrea@njea.org, visit: njea.org/njrea and continue to support and represent New Jersey's public schools.
Being a member of NJREA also makes you a member of your County Retiree Education Association.
