Glossary of Important Terms

A business professional with expertise in the fields of economics, statistics and mathematics who compiles and analyzes statistics in order to calculate financial risks and reserves.

The average of your salary during your four highest-paid years in a row (48 consecutive months).

Consolidated Judicial Retirement System

A national measure of increase in the cost-of-living from one year to the next.

The total of all service credit that counts toward retirement.

Your North Carolina pension plan.

Local Governmental Employees' Retirement System

Legislative Retirement System

Service you earned while an active employee contributing to TSERS that has not been withdrawn.

The secure online portal where you can track and maintain your retirement account.

Payment to a benefit recipient in excess of what the benefit recipient is entitled to receive.

Retirement marks the beginning of monthly retirement benefits and the complete separation from active service for vested employees with no intent or agreement, express or implied, to return to service.

Employment for a limited term which does not exceed 12 consecutive months on a non-recurring basis for an
employer.

Teachers' and State Employees' Retirement System

Having the right, once you meet all eligibility requirements, to apply for a lifetime monthly retirement benefit - provided you do not withdraw your contributions.