Table of Contents
- Coming Soon: Online Retirement Application
- Encourage Employees to Take Action during National Retirement Security Week
- Kudos!
Coming Soon: Online Retirement Application
Over the past couple months, we’ve asked for contact information for the staff in your office who are responsible for verifying employee data for retirement. This is needed because we will be launching a brand new feature in ORBIT for members of the Teachers’ and State Employees’ Retirement System and Local Governmental Employees’ Retirement System. Coming November 13, 2018, your employees can start retiring online!
Although employees may be retiring online, retirements will still be processed the same way they are processed now. Whatever agency processes you have created for your staff should not be impacted by this online application. The online retirement application is simply an alternative to paper; the underlying processes have not changed.
Here are some of the highlights of the online application:
- Wizard-like experience guides members through the entire retirement process.
- Application is built into ORBIT, a website already familiar to members, so there’s no need to learn new log in credentials.
- Integrated help topics and videos provide targeted information to help members make informed decisions about their retirement benefits.
As with paper applications, we will still coordinate with you to verify an employee's information, with one small improvement: When your employee retires, the Retirement Systems will contact you by email (if you've responded to the survey mentioned above) and will include an electronic copy of the Form 6C so you can help your employee's retirement application process quickly. You'll be able to email your form and avoid snail mail delays!
Although we strongly encourage all members to utilize this new feature, we will continue to accept paper applications.
Please continue to encourage your employees to create an ORBIT account by logging in to ORBIT.myNCRetirement.com. If your employees have questions about this new feature, please share the contact information for the Retirement Systems Call Center:
Email: NCRetirement@nctreasurer.com
Phone: 877-NC SECURE (877-627-3287)
We're creating several resources to help you be prepared to answer employee questions about this exciting new resource in ORBIT. Stay tuned for more information!
Encourage Employees to Take Action during National Retirement Security Week
Ready-to-use videos available!
Saving for retirement should be one of your employees’ most important financial priorities – but not necessarily something that they should think about constantly. National Retirement Security Week, October 21-27, 2018, is the perfect opportunity for all of us to pause and review our retirement savings plan and take action to ensure we are on track for a secure retirement.
The Retirement Garden Edition video series, created by the National Association of Government Defined Contribution Administrators, likens saving for retirement to planting a garden to emphasize the benefits of: saving early, increasing savings, building an emergency fund, IRS catch-up provisions and more.
These are easy to share in your employee newsletter throughout National Retirement Security Week! Remember that the NC Total Retirement Plans 401(k), 457 and 403(b) offer best-in-class features and benefits, local assistance from retirement educational counselors, high-quality investment options customized to meet the needs of NC public servants and some of the lowest fees in the nation. Please help share this important information and link to the plans’ site where your employees can learn more and enroll today!
Kudos!
