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Retirement Monitor - A monthly newsletter for public sector human resources and payroll specialists
 October 2016

Reminder: Correcting Employer ORBIT Reporting Errors ​​

The Retirement Systems Employer Reporting team indicates that almost 15,000 state or local employees did not receive a 2015 Annual Benefits Statement earlier this year due to employer error. To help us provide an accurate ABS for your employees next year, please correct all outstanding ORBIT reporting errors no later than
December 31, 2016. If errors are not corrected in a timely manner, your employees may not receive their ABS, or may receive an incorrect statement

We appreciate your important role and continuing support in providing timely and accurate information about your employees to the Retirement Systems Division through ORBIT reporting.

 

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Retirement Readiness Tour Making Stop in Smithfield

The Department of State Treasurer is hosting another NC Total Retirement Readiness Event. It will be held at Johnston Community College, Paul A. Johnston Auditorium, 245 College Rd, Smithfield, NC, on October 25, 2016.

The event in Smithfield presents an opportunity for state and local government employees to get information on planning for retirement, and will feature NC Total Retirement Plans, State Employees’ Credit Union, Pierce Insurance Agency, NC Flex and Prudential Retirement, along with a retirement readiness planning meeting for members

For more information, visit:

 

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Who Are You Connected To? Campaign Clears Up Beneficiary Election Misunderstandings


​Help us clear up key misunderstandings about beneficiary elections across all retirement and supplemental plans. The Who Are You Connected To? campaign is designed to encourage employees and retirees to reflect on their beneficiary elections with the NC pension plan, supplemental retirement plans, NC Flex plans, and retiree offerings. All can visit www.myncretirement.com/beneficiaries to view plan rules, get forms and find details for all plans. Please help us get the word out. Email Catherine.Jarboe@nctreasurer.com for a digital ad for your employee newsletter, a poster for the break room, or 8”x5” handouts for your employees.

 

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ABLE Accounts Provide People with Disabilities a New Opportunity for Financial Security

The Retirement Systems’ Boards of Trustees have increased the amount of compensation a re-employed retiree may The North Carolina Achieving a Better Life Experience (ABLE) Act permits people with disabilities to save money in a tax-deferred account, while continuing to maintain eligibility for Medicaid, Social Security Income and other federal support programs. The ABLE Program has been called the most life changing event for people with disabilities since passage of the Americans with Disabilities Act more than 25 years ago. At its October 10, 2016 meeting, the NC ABLE Program Board of Trustees approved a recommendation to enter contract negotiations with the multi-state ABLE Consortium, a group of ten states that seek to provide exceptional ABLE programs to qualifying citizens.  For more information, visit www.NCTreasurer.com/ABLE or email ncABLE@nctreasurer.com​.


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Kudos!




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