ORBIT

myNCRetirement Statement

2019 myNCRetirement Statement released in April 2020

The North Carolina Department of State Treasurer (DST) creates the myNCRetirement Statement (MRS) for actively employed public sector employees who are members of the Teachers’ and State Employees’ Retirement System (TSERS), Local Governmental Employees’ Retirement System (LGERS), Consolidated Judicial Retirement System (CJRS) and/or Legislative Retirement System (LRS).

The MRS provides members a summary of

  • their service in their retirement system, coupled with estimated benefit projections for NC pension(s),
  • Social Security,
  • NC Supplemental Retirement Plan(s) (NC 401(k) Plan, NC 457 Plan and NC 403(b) Program), and
  • any outside assets that an employee has entered into the Retirement Income Calculator on Prudential’s website for the Supplemental Retirement Plans.

The myNCRetirement Statement provides a snapshot of each member’s retirement savings. This personalized tool may help individuals assess their retirement savings plan, review goals and take action, if needed, for a more secure retirement.

DST encourages members to review their MRS and other financial documents to aid in planning for retirement. The Frequently Asked Questions below and the additional online MRS tools on this page are designed to enhance understanding of the format and content of the MRS.

View the video below to learn more about your myNCRetirement Statement or log in to ORBIT​ now to access your personalized statement.

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Having trouble finding the statement in ORBIT? 

Click Here for PDF Instructions

Resources

myNCRetirement Statement Flyer

Your Retirement Benefits Handbook

NC 401(k), NC 457 and NC 403(b) Plans

myNCRetirement Statement Frequently Asked Questions

When will my MRS statement be available?

When will my MRS statement be available?

The 2019 MRS will be available online in your personal ORBIT account by mid-April 2020.

Who is eligible to receive a MRS?

Who is eligible to receive a MRS?

Members who actively contributed to the retirement systems and have at least one year of service as of December 31, 2019, should have an MRS posted to their personal ORBIT account.

I do not have an MRS. Why not?

I do not have an MRS. Why not?

If you do not receive a 2019 MRS in ORBIT, it is likely due to one of the following reasons:

  • You have less than 12 months of service as of December 31, 2019; therefore, we do not have enough information to prepare a myNCRetirement Statement that would accurately estimate the retirement benefit or long-term financial income or need in retirement; or,
  • We did not have complete information in our system to produce your 2019 myNCRetirement Statement. We will continue to partner with your employer to make the necessary data reporting corrections so that we can provide your myNCRetirement Statement in the future.
Will I receive my MRS in the mail?

Will I receive my MRS in the mail?

Your MRS will not be mailed. It will be posted to your personal, secure ORBIT account.

Will I be able to see last year’s statement?

Will I be able to see last year’s statement?

Yes, we store two years of statements on your secure ORBIT account. Beginning April 5, you will have access to your 2018 and 2019 statements.

How do I access my MRS in ORBIT?

How do I access my MRS in ORBIT?

Your MRS is available to view, print or download from ORBIT. If you’ve already registered, simply log in. On the left-hand menu, click the link to “View myNCRetirement Statement.” Then, select the year you want to review.  If you need additional assistance, click here to use our step-by-step PDF guide.

What if I do not have an ORBIT account?

What if I do not have an ORBIT account?

Click here to register your ORBIT account. On the landing page, click REGISTER and follow the prompts for creating and securing your account. Once created and verified, you will be able to follow the instructions above to access, view, print or download your MRS.

Can I call or e-mail to have someone send me my statement?

Can I call or e-mail to have someone send me my statement?

The MRS is personalized statement and only available through your secure ORBIT account. Neither the Retirement Benefit Counselors nor your employer have access to your MRS statement.

What if I’m having trouble creating or accessing my account?

What if I’m having trouble creating or accessing my account?

If you have problems creating or accessing your account and need assistance, click the “Forgot” or “Need Help” links on the left side of the ORBIT log in page.

Please be aware that under current COVID-19 guidelines, there may be increase in load times based on member access and your local internet service provider traffic.

If you do receive errors, we recommend trying your login again at another time. We appreciate your patience.

If I do not have routine access to a computer or printer, how can I see my statement?

If I do not have routine access to a computer or printer, how can I see my statement?

The ORBIT website is mobile-responsive, which means that you can access the site to view your statement from your smart phone or any other mobile device.

We have also asked your human resources staff to assist you with computer access if you do not have access to a computer at work or at home. Public libraries and many branches of the State Employees’ and Local Government Federal Credit Unions have computer kiosks that allow you to view your statement.

You may ask your employer to assist you in obtaining computer access, or printing the statement after you type in your user ID and password to gain access to your ORBIT account.

I have worked less than one year, will my MRS be posted to my ORBIT account?

I have worked less than one year, will my MRS be posted to my ORBIT account?

No. Members with fewer than 12 months of service as of December 31, 2019, will not receive a 2019 MRS.

What are some of the helpful pieces of information available in ORBIT?

What are some of the helpful pieces of information available in ORBIT?

In ORBIT, you can review your length of service, retirement account balance and beneficiary designation(s). Click here to learn more about ORBIT’s tools and features.

I left my government employer before December 31, 2019. How can I get a statement if I want one?

I left my government employer before December 31, 2019. How can I get a statement if I want one?

You can get information about length of service, retirement account balance and beneficiary designations in ORBIT, but the MRS is generated only for those who contributed to the retirement systems as of December 31, 2019. If you left local or state employment before that date, you will not have a 2019 statement in your ORBIT account.

I left state employment after December 31, 2019. Can I get a statement, even though I’m not a current state employee?

I left state employment after December 31, 2019. Can I get a statement, even though I’m not a current state employee?

The 2019 MRS will be available online in your personal ORBIT account in April.

Once logged on to your personal ORBIT account, click on “View myNCRetirement Statement” to view or print your statement.  If you need help in located the MRS, click here to use our PDF instruction guide.

I was on leave without pay in December. Will an MRS be in my ORBIT account?

I was on leave without pay in December. Will an MRS be in my ORBIT account?

If you were on unpaid leave and did not contribute to the retirement systems as of December 31, 2019, then you will not have a statement.

As a retiree, I returned to work in 2019. Will I have an MRS posted in my ORBIT account?

As a retiree, I returned to work in 2019. Will I have an MRS posted in my ORBIT account?

You will have an MRS in your account only if you contributed as an active employee to the Retirement Systems in December 2019.

What if I have forgotten my ORBIT password?

What if I have forgotten my ORBIT password?

To reset your password, go to ORBIT.myNCRetirement.com, and click the “Forgot Your Password” link on the left side to verify your identity and reset your password.

If I am no longer working, but have contributions in the retirement systems, can I access ORBIT?

If I am no longer working, but have contributions in the retirement systems, can I access ORBIT?

Yes. If you no longer work in local or state government and have contributions in your retirement account, you can access your account information and balance through ORBIT. Simply log in or register at ORBIT.myNCRetirement.com.

My “Gap” analysis in the MRS shows that I need more retirement income now than I needed in the past. How did that happen?

My “Gap” analysis in the MRS shows that I need more retirement income now than I needed in the past. How did that happen?

Your gap analysis uses assumptions to estimate how much you may need to save for retirement. These are explained in detail in the MRS Users Guide available on the DST website. For example, increasing inflation and market variations could bring lower returns on investments and may mean that you cannot count on salary increases while you work or cost-of-living adjustments in retirement. As a result, your dollars may not buy as much in the future as they do today. Saving more now may help your finances keep up with or exceed inflation.

Your gap may also grow due to any salary increases you receive. Remember that many financial experts state that you should be prepared to replace 80 percent of your pre-retirement income. You may decide that you need to replace more than 80 percent, or less, depending on your lifestyle and retirement goals. So, if you receive a salary increase and make more money each year but don’t increase your contributions to your 401(k), 457 or 403(b), your projected “monthly need” will increase but your project monthly income will remain the same. If that’s true for you, consider increasing your contributions each time you receive a salary increase.

Overall, as a result of these assumptions, the gap analysis may provide you with a different picture of how much you may need to save in order to have sufficient income during retirement.

Where is the information on the age for eligibility for an unreduced retirement benefit?

Where is the information on the age for eligibility for an unreduced retirement benefit?

Information on the age for eligibility for an unreduced retirement benefit is found under the “Notes and Assumptions” section on the side of Checkpoints 1 and 2. The third checkmark will show your projected age for an unreduced retirement and is based on the years of service qualifications in the Retirement System.

What age assumptions are used within Checkpoint 2?

What age assumptions are used within Checkpoint 2?

The following calculation assumptions are used within Checkpoint 2 regarding age:

  • Social Security: Those whose “normal retirement age” is younger than 62 will have the estimated Social Security benefit calculated for age 62. Those whose “normal retirement age” is older than 62 will have the estimated Social Security benefit calculated at the normal retirement age.
     
  • NC 401(k), NC 457 and NC 403(b): For defined contribution plans, projected monthly income is the result of the lump-sum projected value divided by the number of months in retirement (years in retirement x 12). If your retirement age is age 59 1/2 or earlier, it is the number of months in retirement from age 59 1/2 through age 90.
     
  • Retirement Systems Pension Plans: A member’s eligibility for retirement benefits is determined by meeting the age and service requirements set forth in the North Carolina General Statutes. Within the MRS, your earliest unreduced retirement age is used.

Please refer to your benefit handbook to understand the qualifications for retiring in your system. You may also obtain a benefit estimate using the Retirement Estimator located in ORBIT.

Now that I have my MRS, how can I get more information on planning for retirement?

Now that I have my MRS, how can I get more information on planning for retirement?

Take advantage of the resources available through the Department of State Treasurer, from any of our partners listed in your statement or from your financial advisor or institution. Go to www.myncretirement.com for helpful information, tools and resources to help you plan for retirement.

Will my member identification number be on the MRS?

Will my member identification number be on the MRS?

Yes. The Member ID number enhances your security by reducing the use of your Social Security number on documents within the Retirement Systems Division. Please use your Member ID number in all future correspondence with our office to help maintain the security of your account.

Can I change my beneficiary through ORBIT or am I required to submit my beneficiary change on paper?

Can I change my beneficiary through ORBIT or am I required to submit my beneficiary change on paper?

Named beneficiaries for the NC pension plan(s) and the NC Total Retirement Plans 401(k), 457 and 403(b) are listed in Checkpoint 4.

To update your designated beneficiary for the NC 401(k), NC 457 or the NC 403(b), log in to your account at NCPlans.prudential.com.

To designate and update beneficiaries for your pension benefits, log into ORBIT and you can update immediately as an active employee.  Click here for more information on beneficiaries.

What do I do if I find discrepancies in my statement information, such as years of service or age?

What do I do if I find discrepancies in my statement information, such as years of service or age?

For any work-related errors you find, meet with your Human Resources (HR) representative to discuss the incorrect information. In most cases, your HR or payroll representative will be able to correct the information in their monthly reporting to the Retirement Systems Division.

If I make both traditional and Roth contributions, will they be listed within the NC 401(k) and 457 information?

If I make both traditional and Roth contributions, will they be listed within the NC 401(k) and 457 information?

Traditional and Roth balances will both be included in the NC 401(k) amount.

Are other plans, such as Nationwide 457 or International City/County Management Association (ICMA), included in this statement?

Are other plans, such as Nationwide 457 or International City/County Management Association (ICMA), included in this statement?

No. Only state-sponsored NC Total Retirement Plans supplemental retirement savings options are included. These are the NC 401(k) and NC 457 Plans and the NC 403(b) Program. Prudential Retirement provides recordkeeping and communications services, including the MRS, for all three plans.

Outside assets (including outside pensions, other supplemental retirement plan assets, etc.) can be added into the retirement calculations using Prudential’s Retirement Income Calculator. The deadline to do so for the 2019 MRS was January 1, 2019.

I am a local government employee. Will I see a Deferred Compensation contact number listed for reference information?

I am a local government employee. Will I see a Deferred Compensation contact number listed for reference information?

You will see contact information for Prudential Retirement, our partner for the NC 401(k) and NC 457 Plans and the NC 403(B) Program. You can view the “401(k) 457 and NC 403(b) Employer Participation List” at www.myncretirement.com.

Will the North Carolina Firefighters’ and Rescue Squad Workers’ Pension Fund be listed as a retirement fund on the statement? If so, will it indicate how many years of service credit a member has in the fund?

Will the North Carolina Firefighters’ and Rescue Squad Workers’ Pension Fund be listed as a retirement fund on the statement? If so, will it indicate how many years of service credit a member has in the fund?

No. Only members who are part of the Local Governmental Employees’ Retirement System (LGERS), Teachers’ and State Employees’ Retirement System (TSERS), Consolidated Judicial Retirement System (CJRS) and/or Legislative Retirement System (LRS) will receive a statement. Service in the NC Firefighters’ and Rescue Squad Workers’ Pension Fund will not be included on the MRS since the make-up of the pension plan is different than the other systems managed by the Retirement Systems Division.

For more information about the Firefighters’ and Rescue Squad Pension Fund, please  email NC.Fire&Rescue@nctreasurer.com.

Is the estimate of monthly benefits from the NC 401(k) and/or NC 457 Plan the amount that I can expect to be paid under the Transfer Benefit if my account balance was transferred to TSERS or LGERS?

Is the estimate of monthly benefits from the NC 401(k) and/or NC 457 Plan the amount that I can expect to be paid under the Transfer Benefit if my account balance was transferred to TSERS or LGERS?

No, the monthly benefit amount projected on the myNCRetirement Statement is not the amount that might be paid under the Transfer Benefit. The amount of the estimated monthly benefit on the MRS is the projected accumulated balance paid in equal monthly payments from your projected age at retirement (or 59½ if greater than your retirement age) through age 90. To get an estimate of your Transfer Benefit visit www.nclifetimeincome.org.

Who do I contact if I have additional questions?

Who do I contact if I have additional questions?

If you have more questions or need additional help, please contact the Retirement Systems Member Services by email at ncretirement@nctreasurer.com.