Retirement Monitor - March 2018

<p>In this issue:</p> <p>GoalMaker Enhancements Coming in June; Sessions to Help Your Employees Nearing Retirement Understand their Medical Plan Options; 2017 myNCRetirement Statements coming in May!​; Upcoming Employer Training​; Kudos!​</p>

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GoalMaker Enhancements Coming in June ​​​​NC Total Retirement Plans logo

Another Great Reason to Stay in the NC Total Retirement Plans 401(k), 457 and 403(b) Even After Retirement

Proper asset allocation (keeping the right mix of investments to meet your needs in retirement) is one of the most important ways to ensure retirement readiness. Helping participants do just that is one of the top goals of the Supplemental Retirement Board of Trustees. As a part of that work, the Board is enhancing GoalMaker, the popular, easy-to-use, no-extra-cost asset allocation tool in the NC Total Retirement Plans 401(k), 457 and 403(b).

In June, all asset allocations in GoalMaker’s portfolios will be updated. GoalMaker will expand, too, with additional model portfolio options for those early in their careers and new portfolios that take participants through retirement. Now, there’s even more reason for participants to stay with the NC Total Retirement Plans, and keep the trusted Board oversight, low costs and strong-performing investments, even after they are retired!

Look for more details (and a copy of the letter to be sent to all participants in April) coming to all participating employers via email next month. The Board is always looking for opportunities to increase the value of these Plans, while making them simpler to use, and the upcoming enhancements to GoalMaker are another way they are doing so. For more information, contact your NC Total Retirement Plans Retirement Educational Counselor.

 

NC State Health Plan logoSessions to Help Your Employees Nearing Retirement Understand their Medical Plan Options

If you have employees who are thinking about retirement at 65 or older, let us help them navigate their State Health Plan options.

Beginning in March, the State Health Plan will be offering in-person information sessions on “Understanding Your Medical Plan Options When You Become Medicare-Eligible.” These popular sessions are free of charge and each session lasts approximately two hours.

These sessions will explain important information regarding Medicare and retirement health benefit options and will offer the opportunity for attendeesto ask questions.

The in-person sessions will run from March through July. Visit the State Health Plan website to register for one of the in-person events.

If your employees are unable to attend an in-person meeting, the Plan is offering convenient online webinars on the same topic now through August.

 

myNCRetirement Statements coming in May!

Remind employees to download their 2015 Annual Benefits Statement before they are deleted!

In May, your employees will receive an email with instructions for accessing their 2017 myNCRetirement Statement (formerly Annual Benefits Statement). This statement is full of helpful information, completely customized to each individual, which gives your employees a snapshot of their progress toward retirement readiness.

These statements are created each year, but we only have the ability to store two statements per person. On March 29, 2018, employees’ 2015 statements will be permanently deleted and no longer retrievable to make room for the 2017 statements. Please encourage your employees to download their 2015 statements if they have not done so already.

If an employee worked in state or local government for the entirety of 2015, they can log in to ORBIT at orbit.myncretirement.com. On the home page, employees will see a green box that says “Annual Benefits Statements.” Here, they can view and download their 2015 and 2016 statements to track their progress over time.

Thanks for reminding your employees about this valuable resource!

 

Upcoming Employer Training

ORBIT Employer Payroll Reporting for Beacon and LGERS Employers

The Retirement Systems Division is offering an ORBIT Employer Payroll Reporting for Beacon (TSERS) and LGERS Employers training in Raleigh on April 11, 2018. The training will take place at the Department of State Treasurer, Kitty Hawk Conference Room, 3200 Atlantic Ave. Raleigh, NC 27602. This conference will also be simulcast live.

This comprehensive training provides North Carolina government employers with information about ORBIT. Some of the topics to be covered include:

  • Enrolling new eligible members into the Retirement System
  • Employer reporting responsibilities
  • ORBIT Employer File Format
  • ORBIT Member ID File Format

Employers should sign up to attend by emailing employertraining@nctreasurer.com. The Retirement Systems will hold the training only if 10 or more employers have signed up.

If enrolled in training, please be sure to attend or email employertraining@nctreasurer.com if you need to cancel.

TSERS & LGERS Law Enforcement/Emergency Personnel

The Retirement Systems Division is offering an Employer Training for Human Resources Personnel working with Law Enforcement and Emergency Personnel participating in the TSERS and LGERS in Raleigh on May 9, 2018 at 9:00 a.m. The training will take place at the Department of State Treasurer, Kitty Hawk Conference Room, 3200 Atlantic Ave. Raleigh, NC 27602.

This comprehensive training provides North Carolina government employers with information about Law Enforcement/Emergency Personnel retirement eligibility and benefits. Some of the topics to be covered include:

  • Law Enforcement/Emergency Personnel retirement eligibility
  • Legislative changes affecting Emergency Personnel (Not FRSWPF)
  • Using Sick Leave at Retirement
  • LEO Transfer Benefit
  • Separate Insurance Benefits Plan for State and Local LEOs
  • Reemployment under the Special Separation Allowance

Employers should sign up to attend by emailing employertraining@nctreasurer.com. The Retirement Systems will hold the training only if 10 or more employers have signed up.

 

Kudos!

March 2018 Kudos

 

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