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ET-0547. Report of Transfer/Multiple Enrollment Form

ET-0547. Report of Transfer/Multiple Enrollment Form-2025

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The document is a Report of Transfer/Multiple Enrollment Form from the New Jersey Division of Pensions & Benefits, designed for members transitioning between public employers within the same retirement system or establishing multiple enrollments. It requires detailed member and employer information, certifies eligibility for retirement benefits, and must be submitted within 10 working days of new employment to ensure proper pension deductions.

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Versions	Form popularity	Fillable & printable
2021	4.8 Satisfied (152 Votes)
2019	4 Satisfied (71 Votes)
2013	4 Satisfied (56 Votes)

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Can you transfer NJ pension to another state?

Unfortunately, pensions arent portable like other retirement accounts. You cant simply transfer your account from one state to another, and you will likely lose service time. However, you may be able to retain at least some of your benefits depending on whether youre vested.

What is Tpaf contributory insurance?

As an active employee in the PERS or TPAF you may be covered by two types of group life insurance: NONCONTRIBUTORY GROUP LIFE INSURANCE is provided by your employer through the pension fund. There is no cost to you for this coverage. CONTRIBUTORY GROUP LIFE INSURANCE is the insurance for which you pay.

Will your NJ pension be taxed if you move to another state?

Under federal law, pensions, regardless of the source, are only taxable to the state in which you live, said Michael Karu, a certified public accountant with Levine, Jacobs Co.

What states do not tax New Jersey pensions?

Those eight Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming dont tax wages, salaries, dividends, interest or any sort of income. No state income tax means these states also dont tax Social Security retirement benefits, pension payments and distributions from retirement accounts.

Do NJ state employees get a pension?

There are currently seven pension funds offered to government employees in New Jersey. Most are defined contribution plans in which the employee contributes a fixed percentage of their salary while the employer contributions are based on actuary reports.

How long do you have to work for the state of NJ to get a pension?

20 years of service credit at age 60 or older; 25 years of service credit at age 55 or older; or 35 years of service credit at age 55 or older.

Who is eligible for pers NJ?

Employees who do not work the minimum required hours but who earn base salary of at least $5,000 are eligible for participation in the DCRP. PERS salary limited to Social Security maximum wage $147,000 for 2022. PERS members are eligible for participation in the DCRP for salary over the maximum wage limit.

Can I cash out my state pension?

Pension release over 55 You can withdraw up to 25% of your pot tax-free, either as a lump sum or in smaller instalments adding up to 25%. It doesnt matter how big or small your pension pot is, everyone over 55 is entitled to take a quarter of their savings without paying income tax.

ET-0547. Report of Transfer/Multiple Enrollment Form-2025

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