Fire & Rescue Pension News - 2025 Annual Edition

In this Issue: 2024 Annual Contributions due March 31; Monthly Contribution Increase Effective Jan. 2025; Monthly Benefit Increase Effective Jan. 2025; Administrators ORBIT Reporting; Naming and Updating Beneficiaries; When to Apply for Retirement; FRSWPF Handbook

Reminder: Final 2024 Annual Contributions Due March 31

March 31, 2025

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 before this date.  

Contributions must be submitted in the form of a check. We do not accept cash payments for contributions. 2024 contributions due are $10 per month for a total of $120 per year.

Mail your contributions to:  

Firefighters’ and Rescue Squad Workers’ Pension Fund  
Department of State Treasurer  
3200 Atlantic Avenue  
Raleigh, NC 27604

 

Contribution Increase 2025


Change in contributions for 2025

  • Effective January 1, 2025, the contribution rate required for members during their 20 years of contributing service will increase by $5 per month, from $10 to $15 for a total of $180 per year.
     
Update Monthly Benefit Increase

Change in monthly benefit for 2025

  • Effective January 1, 2025, the monthly pension benefit will increase by $5 per month, from $170 to $175.

 

Admin Online Reporting

You can 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.

 

Who is your beneficiary

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 retirement

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). 

 

FRSWPF Handbook

Click here to view the Firefighters’ and Rescue Squad Workers’ Pension Fund Handbook. 

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