Divisional Operating Goals
The North Carolina Retirement Systems Division is committed to helping its members be financially prepared for their retirement years. The Division has set goals designed to increase member participation in the NC 401(k)/NC 457 Plans offered through Prudential Retirement. Saving for retirement and enrolling in supplemental retirement income plans such as these is one of the best ways you can help supplement your retirement income.
In addition, the Division has set goals to improve Member Satisfaction, increase Employee Engagement and ensure the Fiscal Integrity of the Systems.
The Retirement Systems Division invites you to visit this web page often, to track our progress in meeting the goals outlined below. We're dedicated to making the Systems the best, for the benefit of our members.
Retirement Readiness – Help 64% of NC public servants age 62 or older get on track to replace 80% of their pre-retirement income in retirement. The following sub-goals are being pursued to help us achieve our top-level metric of 64%:
- 401(k) & 457 Participation: 28.99%
- 403(b) Participation: Adoption by 65 Local School Districts by 2015 year end
- 401(k) & 457 Average Contribution: $177.07
- 401(k) & 457 GoalMaker Participation (new/existing): 93%/57%
Member Satisfaction – 4.35 member overall satisfaction score (scale of 1 to 5)
- Daily survey results from customer experiences in Retirement Processing, Benefit Processing, and Member Services
- Monthly metric results for turn around time, paid on time percentage, and other key performance measures
Employee Engagement – 3.15 employee overall satisfaction (scale of 1 to 4)
- Engagement surveys performed bi-annually starting in 2016
- In order to maintain and improve upon our 2014 engagement score of 3.08, leaders should develop and maintain, in partnership with their employees, Active Engagement Activities and report on those monthly
Fiscal Integrity – success on the following sub-goals:
- Collect 97.5% of Employer Contributions on time
- Identify $7 million of new overpayments
- Full (100%) funding of the ARC