Fire & Rescue Pension News - 2024 Annual Edition

In this Issue: Important Dates; Naming and Updating Beneficiaries; When to Apply for Your Pension; Pension Fund Eligibility; Tips and Checklist for FRSWPF

Important Dates

March 31  In order to be properly credited, your contributions for each calendar year must be received by the Retirement Systems office no later than March 31 of the following year. Contributions for the year 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. Currently, a member contribution is $10 per month ($120 per year).

Tech Tip:  Create a recurring annual reminder on your phone or email calendar with an alert 1-2 weeks prior to March 31.
 


You can now report online. If you are the Administrator, please fill out the online form and you will be contacted by the Specialty Plans team with your username and password.
 

 

Naming and Updating Beneficiaries

We recommend you complete Form 2FR (Designating Beneficiary(ies) for the Firefighters’ and Rescue Squad Workers’ Pension Fund) as soon as possible and email to Specialty.Plans@nctreasurer.com.

Recent legislative updates modified the statute for the Line of Duty Death Benefit program determined by the Industrial Commission and paid by North Carolina Retirement Systems (G.S. 143-166.2) to expand the definition of “killed in the line of duty” to include firefighters who die from oral cavity cancer or a pharynx cancer. (S105v8.pdf (ncleg.gov))

Major life events require a review of your benefits. This includes a new marriage or partnership, divorce or break-up, birth or adoption, and the death of named beneficiaries. It is an unfortunate truth, but we have seen members who have not named or updated their beneficiaries. If something happens to you tomorrow and you have not updated your beneficiary, your benefit may be paid to a former spouse or partner, delayed and paid to your estate, or your beneficiary may be determined for you by state or federal law.

Naming a beneficiary for benefits is not exclusive to the North Carolina Retirement Systems and we encourage you to review all your accounts, such as life insurance, savings and checking, and supplemental retirement accounts (like the NC 401(k) and NC 457 Plans) – to name a few.

Log in to ORBIT to view the beneficiary(ies) we have on file.
 

When to Apply for Your Pension

You may apply for monthly pension fund benefits after you:

  • Have 20 years of creditable service as a firefighter or rescue squad worker, and
  • Reach age 55.

Don't forget, you can continue to serve as a firefighter or rescue squad worker AND receive the Fire & Rescue pension benefit once you meet the eligibility criteria above.

Your monthly pension benefit is not automatic. You must apply to the Pension Fund for this benefit. Your complete application and direct deposit form should be returned to the Retirement Systems office 30 days before your scheduled retirement date. Click here to learn more about how to begin receiving benefits, including links to the required forms (Form 6FR Retiring from the Firefighters’ and Rescue Squad Workers’ Pension Fund and Form 170 Authorizing Direct Deposit.
 

 

Are you eligible to participate in the Firefighters' and Rescue Squad Workers Pension Fund?




 

 

 

 

 

 

 

To be an “eligible firefighter,” you must be 18 years of age or older and belong to a fire department that:

  • Is rated by the Fire Insurance Rating Bureau and is certified by the Department of Insurance as not less than a Class “9S” department,
  • Files a roster annually with the North Carolina State Firefighters' Association, which is forwarded to the Pension Fund by January 31 each year, and
  • Holds training sessions at least 4 hours monthly for which members are required to attend at least 36 hours per year.

Training Sessions for Firefighters
Training sessions for firefighters are defined as sessions or drills that prepare firefighters for, or increase their knowledge in, fire prevention, fire suppression, or protection of life and property.
To be an “eligible rescue squad worker,” you must be 18 years of age or older and belong to a rescue squad that:

  • Is eligible for membership in the North Carolina Association of Rescue and Emergency Medical Services Inc., and
  • Files a roster annually with the North Carolina Association of Rescue and Emergency Medical Services Inc., which is forwarded to the Pension Fund office by January 31 each year.

Eligible rescue squad workers must attend a minimum of 36 hours of training sessions each year.

Training Sessions for Rescue Squad Workers
Training sessions for rescue squad workers are defined as any sessions or drills that prepare rescue squad workers for, or increase their knowledge in, rescue, emergency medical services, injury prevention, or protection of life and property.
 

 

Firefighters' & Rescue Squad Workers' Pension Fund Helpful TIps & Checklist



 

 

 

 

 

 

 

 

Helpful Tips & Checklist for the FRSWPF
 

This quick reference tool is a must have for members and departments.

 

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