Mandatory Retirement
The Teachers and State Employees' Retirement System (TSERS)
TSERS
NC Department of State Treasurer
SERVICE RETIREMENT (UNREDUCED BENEFITS)
You may retire with an unreduced service retirement benefit after you:
- Reach age 65 and complete five years of membership service
- Reach age 60 and complete 25 years of creditable service
- Complete 30 years of creditable service at any age
EARLY RETIREMENT (REDUCED BENEFITS)
You may retire early with a reduced retirement benefit after you:
- Reach age 50 and complete 20 years of creditable service
- Reach age 60 and complete five years of membership service
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 Contribution 6%
Employer Contribution 24.50%; see below for a breakdown:
17.28% - Pension Accumulation Fund
0.13% - Death Benefit Trust Fund
6.89% - Retiree Health Plan Reserves
0.10% - Disability Income Plan
*Includes 0.01% Qualified Excess Benefit Arrangement (QEBA)
*The employer contribution for Law Enforcement Officers includes an additional 5% toward the NC401 (K) Plan.
The University of North Carolina Optional Retirement Program (ORP)
The University of North Carolina Optional Retirement Program (ORP) is an option or alternative to the North Carolina Teachers’ and State Employees’ Retirement System (TSERS) for faculty and staff. Under the ORP, you control your investment choices, distribution methods, and retirement goals, whereas the State controls the investments under TSERS.
The University has authorized two companies to offer investment products under the ORP: Fidelity Investments and TIAA. For more information about the authorized companies or their products, including investment options, services, and fees, you should review the information on this website, as well as contact a company representative.
ORP Enrollment Form
Carriers: Fidelity Investments and TIAA
- Fidelity Investments
Micheal Kitto, CRPC
Phone: 1-800-248-4213
E-Mail: michael.kitto@fmr.com - TIAA
Phone: 800-842-2252
www.TIAA.org/unc
Employee Contribution 6%
Employer Contribution 13.83%; see below for the breakdown:
6.84% - Employer Contribution to Vendor
6.89% - Retiree Health Plan Reserves
0.10% - Disability Income Plan
*The employer contribution for Law Enforcement Officers includes an additional 5% toward the NC401 (K) Plan.
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