If you’re a teacher or public employee in New Jersey looking for some clarification on your pension and how it works, in an easy to digest format that is in simple terms, then this video is for you!

We will cover the pension tiers, vesting, service crediting, service credit purchases, final average salary, pension loans, group insurance within the pension system, the different types of retirement, disability retirement, and withdrawal.

NJ Member Benefit Online System Login (MBOS):

NJ TPAF Member Guidebook:

NJ PERS Member Guidebook:

Apply to become a P.E.R.T. Retirement Roadmap Member here:
**You MUST be an active or retired teacher or public employee to apply**

For ALL Teachers & Public Employees:
**Get a glimpse into your future financial situation by looking at your pension and social security income at various ages in retirement.**

A Pension, Social Security, and Income Gap Report is a comprehensive report that will detail your projected pension income, social security income, and income shortfall at different ages throughout retirement adjusted for inflation. This report is based on YOUR specific information (age, pension system, years of service, tier based on enrollment date, income, etc.)

See what your income shortfall will be (the difference between your working salary and retirement income) so that you know exactly what you’ll need to save to bridge that gap.

Learn what your beneficiaries will receive and what the potential cost of each beneficiary option is so you don’t choose the wrong one.

We can generate this report in any of the 50 states regardless of what pension plan you are a member of!

See a sample report and get your personalized report here:

Want to learn more and see more lessons like this? Check out the P.E.R.T. Retirement Roadmap for Teachers & Public Employees. This is a comprehensive, simple, and easy-to-follow guide taking you from A to Z on how to get started and understand exactly what you need to know and do in order to prepare for retirement and be financially well! You’ll get lifetime access to 7 modules of on-demand, e-learning content that will lead down the path to becoming financially well and prepared for retirement.

Get a sneak peak inside of the P.E.R.T. Retirement Roadmap HERE:

Want to talk with a retirement advisor from the P.E.R.T. team about the Retirement Roadmap? Schedule a call HERE:

Learn more about P.E.R.T. here:

The information contained on this channel, including any products or concepts mentioned, is for general educational and informational purposes only and should NOT be considered a recommendation, financial, tax, legal or investment advice. Always consult with your financial and/or tax professional.

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As public employees in New Jersey, teachers and other public servants can participate in the state’s pension systems, the Teachers’ Pension and Annuity Fund (TPAF) and the Public Employees’ Retirement System (PERS). These retirement systems provide a secure source of income for retirees after they have completed their service to the state.

The TPAF is specifically designed for teachers, while the PERS is for all other public employees, including state and local government workers, police officers, and firefighters. Both systems operate on a defined benefit plan, meaning that retirees receive a set amount of money each month based on their salary and years of service.

In order to participate in either system, employees must contribute a portion of their salary to their pension fund, typically around 7% of their annual earnings. The state also makes contributions to the pension funds to ensure that they remain financially stable.

Once employees have completed a certain number of years of service, typically between 25 and 30 years, they become eligible to receive a pension upon retirement. The amount of the pension is determined by a formula that takes into account the employee’s salary and years of service. Retirees may also choose to receive a lump sum payment or to purchase an annuity with their pension funds.

It is important for employees to carefully track their years of service and keep up with their contributions to ensure that they are on track to receive their full pension benefits. The pension systems in New Jersey are well-regarded for their reliability and stability, but all public servants should be aware of the rules and requirements to ensure that they can enjoy a secure retirement.

Overall, the TPAF and PERS pension systems in New Jersey provide a valuable benefit for teachers and other public employees, offering a secure source of income in retirement. By understanding how these systems work and staying informed about their own contributions and eligibility, public servants can make the most of their pension benefits and enjoy a comfortable retirement.