Fire & Rescue Pension News - First Quarter 2020 February 20, 2020 In order to be properly credited, your contributions for calendar year 2019 must be received by the pension fund no later than Tuesday, March 31, 2020. The contributions can be submitted any time prior to this date. Contributions must be submitted in the form of a check. We do not accept cash payments for contributions. The Online Agency Contributions Report Pilot is underway with a staged rollout. The new tool was demonstrated last year at regional association meetings and the Annual Firefighters’ Conference. In April we will formally launch the Online Agency Contributions as a requirement, replacing the paper Turnaround Document. Tutorials and information can be found in ORBIT Help by clicking here. We look forward to providing feedback from the Pilot participants and launching this new feature. Defining the Terms Roster Service: The total number of years since enrolling in the Pension Fund for which the member was reported on rosters from the North Carolina State Firefighter’s Association and/or NC Association of Rescue and EMS as having obtained at least 36 hours of training per calendar year (includes prior service purchased) Paid Service: The total number of years of service credited from contributions for each member (includes purchased service) It is important to review and update your beneficiaries. This can be done securely, online through ORBIT. If you do not have an ORBIT account, it is important to register. Your individual account allows you to access important forms, track your service contributions, and creditable service. Active LGERS employees can also review and update beneficiaries on ORBIT. It is a best practice to review your beneficiaries every couple of years, or if you have a life changing event, such as marriage, divorce, or additions to your family. To set up or log in to your personal ORBIT account, go to the ORBIT website. Transparency is truth. When I raised my hand as the 28th Treasurer for the State of North Carolina, I promised to bring transparency, instill this value as a culture in departmental operations, and take the responsibility of holding our staff, vendors and partners accountable for clear, open, truthful information. After all, it’s your money. Embracing and operating with transparency is simple, but not always easy. It means opening the doors and allowing everything to be exposed, including scars, failures and opportunities. In government, the transparency principle is extended to every staff member, vendor and partner. As keeper of the public purse, my first order of business, three years ago, was to work with our vendors and money managers to cut fees charged to you through the Pension Plan. We have cut $175 million with a projected savings of approximately $344 million over four years. North Carolina has been recognized for these efforts in local and national media. Read the full article here. This blog is related to: Firefighters’ and Rescue Squad Workers’ Pension Fund (FRSWPF)
Fire & Rescue Pension News - First Quarter 2020 February 20, 2020 In order to be properly credited, your contributions for calendar year 2019 must be received by the pension fund no later than Tuesday, March 31, 2020. The contributions can be submitted any time prior to this date. Contributions must be submitted in the form of a check. We do not accept cash payments for contributions. The Online Agency Contributions Report Pilot is underway with a staged rollout. The new tool was demonstrated last year at regional association meetings and the Annual Firefighters’ Conference. In April we will formally launch the Online Agency Contributions as a requirement, replacing the paper Turnaround Document. Tutorials and information can be found in ORBIT Help by clicking here. We look forward to providing feedback from the Pilot participants and launching this new feature. Defining the Terms Roster Service: The total number of years since enrolling in the Pension Fund for which the member was reported on rosters from the North Carolina State Firefighter’s Association and/or NC Association of Rescue and EMS as having obtained at least 36 hours of training per calendar year (includes prior service purchased) Paid Service: The total number of years of service credited from contributions for each member (includes purchased service) It is important to review and update your beneficiaries. This can be done securely, online through ORBIT. If you do not have an ORBIT account, it is important to register. Your individual account allows you to access important forms, track your service contributions, and creditable service. Active LGERS employees can also review and update beneficiaries on ORBIT. It is a best practice to review your beneficiaries every couple of years, or if you have a life changing event, such as marriage, divorce, or additions to your family. To set up or log in to your personal ORBIT account, go to the ORBIT website. Transparency is truth. When I raised my hand as the 28th Treasurer for the State of North Carolina, I promised to bring transparency, instill this value as a culture in departmental operations, and take the responsibility of holding our staff, vendors and partners accountable for clear, open, truthful information. After all, it’s your money. Embracing and operating with transparency is simple, but not always easy. It means opening the doors and allowing everything to be exposed, including scars, failures and opportunities. In government, the transparency principle is extended to every staff member, vendor and partner. As keeper of the public purse, my first order of business, three years ago, was to work with our vendors and money managers to cut fees charged to you through the Pension Plan. We have cut $175 million with a projected savings of approximately $344 million over four years. North Carolina has been recognized for these efforts in local and national media. Read the full article here. This blog is related to: Firefighters’ and Rescue Squad Workers’ Pension Fund (FRSWPF)
