Effective July 1, 2023, the Employer Contribution Rates for TSERS, CJRS, and LRS are adjusted. Please view the recent Special Edition Monitor for the rates.
Implementation
Your October Contribution Summary Instruction (CSI) Report should include the new required rate of 25.02%; otherwise your report will be out of balance. Please ensure that your software is updated to calculate the new rate prior to submission of your agency’s October 2023 report.
The NC Retirement Systems’ Payroll Services Section has updated our system with the new employer contribution rates.
Retroactive Invoicing
We will be applying the rates retroactively to all pay records posted for the July, August and September 2023 report dates.
Retroactive Rate Invoices will be created accordingly for these three impacted contributions: Retirement System Pension Fund, Retiree Health Benefit Fund and, Disability Income Plan.
Please note that records in error status will not be included on these invoices. The new rates will be applied to records in error status when the erred records are posted. Additional Retroactive Rate Invoice(s) will be created at that time.
Retroactive Rate Invoices for the July, August and September posted records should be available by 10/25/2023.
NC 401(k) Plan for State-Employed Law Enforcement Officers
If you have questions about the NC 401(k) plan for state-employed law enforcement officers, please contact Empower at ncplans@empower.com