Mandatory Retirement

The Teachers and State Employees Retirement System (TSERS)

The Teachers and State Employees Retirement System (TSERS)

TSERS
NC Department of State Treasurer
Mandatory Retirement Plan Election Form

  • Unreduced retirement benefit at: any age with 30 years of service, age 60 with 25 years of service, and age 65 with 10 years of service (if hired on or after August 1, 2011).
  • Reduced retirement benefit at: Age 50 with 20 years of service, and age 60 with 10 years of service (if hired on or after August 1, 2011).
  • Death benefit after one year of membership service is equivalent to one year of salary, but no less than 25,000 and no more than $50,000.

Employee contributes 6%

Employer contributes 17.13%; see below for breakdown:
10.77% - Pension Accumulation Fund
6.05% - Retiree Health Plan Reserves
0.16% - Death Benefit Trust Fund
0.14% - Disability Income Plan
0.01% - Qualified Excess Benefit Arrangement
*The employer contribution for Law Enforcement Officers includes an additional 5% toward the NC401 (K) Plan.

 

UNC Optional Retirement Program

UNC Optional Retirement Program (ORP)

ORP 

ORP Plan Summary

ORP Enrollment Form

  • Carriers: Fidelity Investments and TIAA-CREF
    • Fidelity Investments
      Cleo Morgan
      Phone: 803-507-4960
      Fax: 508-460-2830
      E-mail: Cleo.Morgan@fmr.com
    • TIAA-CREF
      Sha'Shanna Crumpler
      Phone: 704-988-7478
      E-mail: scrumpler@tiaa.org 

Employee contributes 6%Employer contributes 13.03%; see below for breakdown:6.84% - Employer Contribution to Vendor
6.05% - Retiree Health Plan Reserves
0.14% - Disability Income Plan

UNC Phased Retirement Program

Phased Retirement Program

  • The UNC Phased Retirement Program (PRP) is designed to provide an opportunity for eligible full-time tenured faculty members to make an orderly transition to retirement through half-time service, as reflected in the PRP policy and guidelines.
  • UNC Phased Retirement Program