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The Alternate Benefit Plan (ABP) is a tax-sheltered, defined contribution retirement program for certain higher education faculty, instructors, and administrators. ABP provides retirement benefits, life insurance and disability coverage, which can help provide security in retirement.
Alternative Benefit Plan Final Rule Alternative Benefit Plans (ABP) must cover the 10 Essential Health Benefits (EHB) as described in section 1302(b) of the Affordable Care Act whether the state uses an ABP for Medicaid expansion or coverage of any other groups of individuals.
New Jersey Resident. Income between $1,801 - $2,674 monthly for a single adult, $2,434 - $3,614 for a couple (2025)
When Can I Retire? There is no minimum retirement age under the ABP. A member may take a cash distribution or begin collecting an annuity from the investment carrier to which contributions have been remitted at any time after termination of employment.
The ABP must cover 10 Essential Health Benefits (EHBs) as described in section 1302(b) of the ACA. The ABP will include Mental Health and Substance Abuse Services and all the Medicaid State Plan benefits with exception of Managed Long Term Services and Supports.