Retirement Monitor - May 2016

<p>In this issue:</p> <p>Total Retirement Tour Kicking Off in June; 2015 Annual Benefits Statements Now Available; More than 50 School Districts Now Offer the NC 403(b) Program</p>

 

 

 

 

 

Table of Contents

  • Total Retirement Tour Kicking Off in June
  • 2015 Annual Benefits Statements Now Available
  • More than 50 School Districts Now Offer the NC 403(b) Program

Total Retirement Tour Kicking Off in June ​​

The Department of State Treasurer is hosting another NC Total Retirement Readiness Tour. The tours are opportunities for state and local government employees to get information on planning for retirement and will feature NC Total Retirement Systems, Social Security Administration, NC State Health Plan, and State Employees’ Credit Union, along with a retirement readiness planning meeting for members.

Each tour stop will feature a Benefit Coordinator’s Discussion that day from 11:30 a.m. to 12:30 p.m. This meeting is exclusively for benefit coordinators to talk candidly about personal and employee successes and challenges in retirement planning.

The NC Total Retirement Readiness Tour will feature:

  • 9:00 a.m. – 2:00 p.m.: Vendor Expo
  • Employees will have an opportunity to connect with experts from NC Total Retirement Systems, Social Security Administration, NC State Health Plan, and State Employees’ Credit Union.
  • 11:00 a.m. – 1:00 p.m.: Retirement Planning Meeting
  • The meeting is designed to walk members step-by-step through the retirement planning process.
  • 11:30 a.m. – 12:30 p.m.: Benefit Coordinators Discussion (Raleigh, Greensboro, and Lumberton area coordinators only)

 

2015 Annual Benefits Statements Now Available

Public employees with more than 12 months of service as of Dec. 31, 2015, now have access to their 2015 Annual Benefits Statement (ABS) in their ORBIT account. The ABS is a unique, personalized snapshot of members’ projected sources of income in retirement.

The ABS provides a comparison of members’ projected monthly income to their projected monthly need. This helps them understand what factors contribute to their income, and how they can take action, if necessary, for a more secure retirement.

After viewing or printing their statement, members can head to the Annual Benefits Statement page of our website (link below) where they will find:

  • A User Guide training tutorial
  • Frequently Asked Questions
  • Links to resources for all ages and career stages

Staying current with your ORBIT Error Reports helps ensure that your employees will receive an Annual Benefits Statement each year.

 

More than 50 School Districts Now Offer the NC 403(b) Program​

More than 50 NC public school districts now offer the award-winning NC Total Retirement Plans 403(b) Program to teachers and staff who are saving to be “retirement ready.” Is your district one? If so, encourage your teachers and staff to consider joining the NC 403(b) or, if already participating, adding 1% or 2% more to their monthly contribution. If they keep this pattern up for summers to come – the savings can really add up.

If your district does not participate in the NC 403(b), visit nctotalretirement.com (link below) to learn more about the high quality benefits of this supplemental savings option. With it, school districts can rely on NC Supplemental Retirement Board of Trustees for strong oversight, compliance monitoring, transparency and competitive fees. Don’t know if your district participates? Visit TIAA.org/NC403b.org to find out.

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