Mandatory Retirement Plan Decision Guide

The University of North Carolina Your Mandatory Retirement Plan Decision Guide > Appalachian State University East Carolina University Elizabeth City State University Fayetteville State University NC A&T State University North Carolina Central University NC State University UNC – Asheville UNC – Chapel Hill UNC – Charlotte UNC – Greensboro UNC – Pembroke UNC – Wilmington UNC School of the Arts Western Carolina University Winston-Salem State University NC School of Science and Mathematics Other Affiliates: – UNC Health Care – UNC Press Your Retirement TSERS ORP Overview Plan Your Helpful Retirement, Program Basics Basics of TSERS Comparison Enrollment Resources Your Basics and the Examples Checklist and < 1 > Choice ORP Contacts Your Retirement, Your Choice At The University of North

Carolina (the University), we know how important it is to prepare for retirement. We also know that everyone’s financial goals, needs and savings strategies are different. That’s why we are proud to offer our employees a choice between two retirement programs, both of which provide a valuable retirement benefit. As a UNC employee, you must enroll in either the Teachers’ and State Employees’ Retirement System (TSERS) or The University of North Carolina Optional Retirement Program (ORP). In this guide we’ll introduce you to the programs and The Bigger Picture provide you with an overview of the key provisions of While both TSERS and the ORP are designed to each plan to help you make sense of your options. provide you with a valuable opportunity to prepare for Inside, you’ll find helpful graphics and examples to retirement, your UNC retirement program is just one part illustrate how your participation in one of these programs of your overall financial picture. How much you need in might fit into your overall financial picture. Then, we’ll retirement depends on your current lifestyle, as well as direct you to the convenient, online resources you will what you want to do in retirement. need to make the right decision for you. While a general rule of thumb says that you’ll need This guide is not, however, intended to provide detailed between 70% and 90% of your pre-retirement income to information about these programs, so it’s essential for maintain your standard of living in retirement, everyone’s you to review the Plan Document and all fund literature needs are different. Understanding your retirement available online at www.northcarolina.edu/hr/unc/ needs is an important step in choosing which retirement benefits/retirement/index.htm before making your program is right for you. It’s also a key to developing a retirement plan election. Remember that all investing savings and investment strategy that can help ensure carries some level of risk. Be sure to consult with you reach your financial goals. your financial and/or tax advisor before making any investment decisions. If you need help establishing your retirement savings goals or developing a savings strategy, we recommend you talk to a financial advisor. Additionally, refer to Your Guide to Investing in The UNC Retirement Programs, as well as the “Contacts and Resources” section of this brochure for a comprehensive list of our investment carriers and other useful resources. Your Retirement TSERS ORP Overview Plan Your Helpful Your...

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