Retirement

What happens to my retirement funds if I resign?

Permanent, full-time employees are covered by the North Carolina Teachers’ and State Employees Retirement System. Employee contributions are automatically deducted from the employee’s paycheck and matched by the employer’s contribution. Employee's contributions are paid with pretax dollars, thereby reducing the current state and federal income taxes. Employees who are involuntarily terminated or resign after five or more years of Retirement System membership may withdraw their retirement contributions plus any interest they have earned. Persons who voluntarily resign with less than five years’ membership in the Retirement System may withdraw only the funds they contributed. Persons leaving public school employment with five or more years of membership credit in the retirement system may elect to leave their contributions in the Retirement System and receive future retirement benefits.

What happens to my sick leave when I retire?

One month of creditable service is allowed for every 20 days of unused sick leave when you retire.

How do I contact the retirement system?

 Retirees/Benefit Recipients, please call:

     1-877-733-4191 (toll free)

     (919) 733-4191 (Raleigh area only)

    Active Members, please call:

    1-877-627-3287 (toll free)

    (919) 807-3050 (Raleigh area only)

    For more information, please contact (252) 399-7721

When will I be eligible to retire?

Service Retirement (Unreduced Benefits) You may retire with an unreduced service retirement benefit after:

- you reach age 65 and complete five years of membership service. (Ten years if you became a member on or after August 1, 2011)

- you reach age 60 and complete 25 years of creditable service

- you complete 30 years of creditable service at any age

Early Retirement (Reduced Benefits)

You may retire early with a reduced retirement benefit after:

- you reach age 50 and complete 20 years of creditable service

- you reach age 60 and complete five years of membership service (10 years if you became a member on or after August 1, 2011)