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
Mandatory Retirement Plan Decision Guide

  • 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 18.86%; see below for breakdown:
12.28% - Pension Accumulation Fund
6.27% - 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
    J.J. Connolly, CFP
    Phone: 919-937-0232
    E-Mail: jj.connolly@fmr.com
  • TIAA - CREF
    LaFreita Whitehead
    Phone: 919-687-5233
    E-Mail: lwhitehead@tiaa.org

Employee contributes 6%
Employer contributes 13.25%; see below for breakdown:
6.84% - Employer Contribution to Vendor
6.27% - 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