Retirement and Pension:
Your pension is invaluable! Retirement when and how to retire is one of the most important decisions you will ever make. Begin planning 3 years prior: attend the CCCEA/NJEA X,Y,Z’s of Retirement workshop, schedule a free, one on one pension consultation by calling Uniserv, and attend a N.J. Division of Pensions & Benefits workshop and see their website for information. Certificated members are in the Teachers Pension and Annuity Fund (TPAF) and secretarial members are in the Public Employee Retirement System (PERS).
All retirement applications must be processed online via MBOS. Retirements must be effective on the first of a month and you must give the district a 60 calendar day prior notice of retirement. Use the following Fact Sheets from the Division of Pensions & Benefits for more information:
Disability Retirement Benefits: disability retirement When health issues prevent you from working to regular retirement after vesting (at least 10 years).
Employer’s Role in a Disability Retirement: Role in disability retirement
Divorce, Dissolution of a Civil Union, & Retirement Benefits: pension -divorce
Pension and Benefits Members Handbook: PERS handbook
Taxability and Mandatory Withholding of Income Tax from your Pension: taxability-rollover
Veteran Status: TPAF Veteran
Information for Retirement Planning Handbook: tpaf handbook
Withdrawal from the Retirement System: withdrawal