Voluntary/Supplemental Retirement Plans

NC State offers voluntary retirement plan options, in addition to the mandatory retirement plans (TSERS or ORP), to help eligible staff and faculty plan and save for retirement. These voluntary plans help staff and faculty supplement their retirement savings to meet retirement goals and also offer potential tax benefits.

The employee contribution to the mandatory retirement plans, both ORP or TSERS, is a state-mandated 6% on a pre-tax basis. The contribution to the mandatory retirement plans cannot be increased or decreased, per state law. In order to contribute additional funds towards retirement, employees can participate in one or more of the voluntary retirement plans listed below. 

NC State does not make contributions to voluntary retirement plans. Contributions are deducted from employees’ pay on a pre-tax or Roth (after-tax) basis.

Enrollment & Change Forms | On-Campus Financial Advisers | Supplemental Plan Decision Guide

Voluntary/Supplemental Retirement Plan Options

Plan Options

UNC 403(b) Plan

NC 401(k) Plan

UNC 457 Plan

NC 457 Plan
VendorsTIAAEmpowerTIAAEmpower
EligibilityAny Employee whose pay is subject to FICA taxesOnly available to employees eligible for the mandatory retirement plan(s)Any employee whose pay is subject to FICA taxesAny employee whose pay is subject to FICA taxes
Maximum Annual Contribution Limit 2024$23,000; an additional catch-up contribution of $7,500 is available if age 50 or older
Plan CoordinationThe UNC 403b Plan and NC 401(k) plan share the same contribution limit and are aggregated. The maximum you can contribute to one/both of these plans is $23,000 or if age 50 or older $30,500.

Your contributions to the ORP, TSERS and 457 plans are not included in this limit. 		The UNC 457 Plan and NC 457 plan share the same contribution limit and are aggregated. The maximum you can contribute to one/both of these plans is $23,000 or if age 50 or older $30,500.

Your contributions to the ORP, TSERS and 403b/401k Plans are not included in this limit.
Contribution OptionsBoth Pre-Tax and After-Tax (Roth) options are available for all plans
Accessing FundsEarliest to occur of: separation from service, age 59½, retirement, disability or death. Contact your vendor for loan and hardship withdraw options while still employed.
Early Withdrawal Penalty (Before age 59.5)YesYesNoneNone

Pre-Tax or After-Tax (Roth)

One of the great things about these plans are that you have payroll deductions on a pre-tax or after-tax basis. Unlike an IRA or Roth IRA, you have much higher contribution limits through payroll deduction.

  • If you get tax refunds back each year, you may want to consider contributing on an after-tax basis.  You pay the taxes on your contributions now, and the money grows tax free.
  •  If you pay taxes every year after you do your taxes, you may want to consider pre-tax deductions.  These lower taxable income and you pay less taxes now.  In retirement, when you take out the money, you then pay taxes on distribution from the plan or through minimum distributions at age 73 if you are no longer employed in an eligible role at NC State.

Enrollment & Changes to Coverage

Employees may enroll and change their supplemental plan contributions at any time throughout the year. After researching the plan options and vendors to enroll or make changes employees must take the following steps:

1. Complete an Enrollment/Change Form

To begin a monthly deduction, employees must complete one the below enrollment/change forms and submit them to the University Human Resources Benefits Office at hrsbenefits@ncsu.edu, via fax at 3-2528, or by campus mail at Campus Box 7215. Please do not include any social security numbers on forms submitted by email.

All forms and online changes must be received no later than the 10th of the month to be effective in the current month’s payroll. Beginning February 2024 payroll, all contributions to the UNC System managed retirement plans must be directed to TIAA, Fidelity’s participation in these plans ended on January 31, 2024. More details regarding this transition may be found on our transition website.

UNC System Plans

UNC 403(b) Plan

UNC 457 Plan
Enrollment Form Salary Reduction Agreement Salary Deferral Agreement
Change Form Salary Reduction Agreement Salary Deferral Agreement
Leave Payout Deferral Form 2024 Salary Reduction Agreement Salary Deferral Agreement

NC Plans

NC 401(k) Plan

NC 457 Plan
Enrollment Form NC 401(k) Enrollment Completed Online NC 457 Enrollment Completed Online
Change Form NC 401(k) Changes Completed Online NC 457 Changes Completed Online
Leave Payout Deferral Form One Time Contribution Form One Time Contribution Form

For NC Plans only, employees complete their enrollment and contribution changes online at myncplans.com. All leave payout deferrals or one-time contributions must be done by paper form linked above.

2. Setup your account online with your chosen vendor.

Once you have chosen a plan and a vendor, you must set up your online account, choose your investments, and elect your beneficiaries.

University Sponsored Retirement Plan Advisors

Meet with representatives from our retirement plan vendors for financial and retirement related advice. These certified financial advisors meet with employees at no cost or obligation to the employee and provide expert advice and resources to NC State Staff and Faculty.

TIAA

Empower (Prudential)

CAPTRUST

CAPTRUST is a third-party, independent group of  advisors working with the UNC System.  Captrust provides institutional and private investors with financial advice and fiduciary support.  For nearly 30 years, CAPTRUST advisors have been helping investors make informed, strategic investment decisions.  You may contact CAPTRUST directly at 1-800-967-9948 or click here to schedule an appointment online.

Retirement Planning Guide (pdf) Supplemental Retirement Decision Guide (pdf)

Human Resources Guiding Policy Disclaimer