FOR IMMEDIATE RELEASE
Durham County Joins 39 Other School Districts in Providing NC 403(b) Program
Supports North Carolina’s Mission to Make Public Employees Retirement Ready
DURHAM, N.C. - State Treasurer Janet Cowell announced today that Durham County School District - the seventh largest school district in North Carolina - has recently elected to provide its employees with the benefits of the NC 403(b) Program, a state-sponsored defined contribution program tailored for the needs of school employees.
“My mom is a retired teacher and I’ve witnessed first-hand the struggles educators face while saving for retirement,” said Cowell. “The idea of offering educators participating in a retirement savings plan a high-quality, low-cost solution is a priority for me and the Department of State Treasurer.”
By creating a single program to offer statewide, the Department of State Treasurer was able to create significant economies of scale that provide low investment and administrative fees charged to 403(b) participants. These fee savings can equal thousands of dollars over the course of an educator’s career.
The NC Total Retirement Plans® offer state and local employees access to the NC 401(k), 457 and 403(b) Plans as a means to save for retirement. For more information, visit www.myncretirement.com.