Broker Check
New Jersey Police and Firemen's Retirement System (PFRS)

New Jersey Police and Firemen's Retirement System (PFRS)

| December 14, 2021
Share |

 


The New Jersey Police and Firemen’s Retirement System (PFRS) helps first responders prepare for their future. In New Jersey, it is mandatory for police officers and firefighters to retire at age 65 but many members choose to retire early. Saving towards your retirement is exceptionally important and under the PFRS there are several types of supplementalretirement plans for which you may qualify. While each persons situation is unique, we are pretty confident when we say it is our recommendation that you strongly consider utilizing these plans as your pension alone will likely not be enough to carry you through retirement on its own. The three supplemental plans you may have access to are the: Deferred Compensation Plan, Supplemental Annuity Collective Trust (SACT), and the Defined Contribution Retirement Program (DCRP). When making a decision which plans make the most sense for your future, we recommend you rate them in order of importance based on accessibility, tax benefit, and investment options then choose a combination of plans that best align with your personal needs. Our team of professionals are available to assist you in navigating these retirement savings options. I’m Matt Levens, Director of Wealth Management at RMR Wealth Builders, Inc, Contact us today for a comprehensive review your retirement savings options. 

We look forward to working with you, call us today to get started on your financial journey with us!

Share |