North Carolina Retirement System Delivers Fastest Release of Retiree Tax Forms in Six Years

(Raleigh, N.C.) – The North Carolina Total Retirement Plans announced that this week's release of retiree tax forms was the earliest the forms have been available since 2012.

By law, the Retirement Systems Division (RSD) has until January 31 of each year to generate the 1099-R and W-2 tax forms that retirement and disability benefit recipients need to file their taxes. This year, however, the RSD team was able to load the 325,000 tax forms within the first week of January due to increased efficiencies in RSD procedures.

“I'm really proud of our team," said Steve Toole, Executive Director of RSD. “Each staff member has worked hard to meet and exceed the goals we set for ourselves, and this is one example of how that hard work is paying off for our members."

Over the past ten years (the amount of time data is available), tax forms typically were not ready for printing or digital release until the third week in January, meaning that after printing, some members did not receive their tax forms by mail until mid-February. This year, as in 2012, the tax forms were loaded on the North Carolina Total Retirement Plans portal, known as ORBIT, and released for printing on January 5, a full two weeks ahead of schedule.

“Since taking office a year ago, I've challenged our staff to find ways to more efficiently carry out our responsibilities," said Treasurer Dale R. Folwell, CPA. “The more efficient we are, the more we increase the value of our services to our members, taxpayers and the state. I applaud our team on a job well done."

Upon registering, benefit recipients can log in to ORBIT to download their tax documents at orbit.myncretirement.com. Any members who would rather wait will still receive paper forms which are currently being printed and are planned to be mailed over the coming weeks.

Background:

Among its many functions, the Department of State Treasurer manages the North Carolina Total Retirement Plans, which administer the retirement accounts of more than 900,000 of North Carolina's state and local government, law enforcement, judicial and legislative employees, as well as teachers and fire and rescue workers. More information is available at myncretirement.com.