Which pension funds can a Town Administrator be enrolled in?

The Town Administrator in New Jersey can be enrolled in the Public Employees' Retirement System (PERS) and the Defined Contribution Retirement Program (DCRP).

PERS is a significant pension system for public employees in New Jersey, offering defined benefits based on salary and years of service, which is essential for employees' retirement planning. DCRP, on the other hand, is a retirement plan for certain public employees that emphasizes a defined contribution approach. It is designed for specific employees who do not participate in PERS or other similar systems, thereby allowing some flexibility in retirement savings.

The combination of these two plans provides a balanced approach to retirement funding, with PERS providing a stable income based on years of service and DCRP encouraging additional personal contributions and investment growth.

Other options contain combinations that do not fit with standard enrollment practices for public administrators. For instance, Social Security is not universally applicable for all municipal employees in New Jersey, and health benefits funds focus on medical coverage rather than retirement. Lastly, while a 401(k) plan is a common retirement plan in the private sector, it is not typically linked to municipal positions in New Jersey, which tend to rely on public-specific retirement systems. Thus, option B accurately reflects the retirement options available