RETIREMENT: ADDITIONAL INFORMATION
All permanent full-time employees are required to join the Teachers' and State Employees' Retirement System. Eligible employees contribute 6% of their gross salary (pre-taxed) to the Retirement System. This is a mandatory contribution. GCS also contributes on your behalf to the State Retirement System in an amount that is legislated annually. Your contributions are paid with pre-tax dollars, thereby reducing current state and federal income taxes. orbit.myncretirement.com
Guidance on Return-to-Work Laws for Members of the Teachers' and State Employees' Retirement System (TSERS)
Please click the above link to access important guidelines and laws governing the return to work process for all retirees of the North Carolina Retirement System.
Monthly benefits at retirement are based upon the average salary of the employee’s four (4) highest consecutive years, years of state service, and/or age at retirement. After five (5) years of creditable service, an employee is considered "vested" and may be eligible for benefits from the retirement system. For more information Click Here. Permanent full-time employees are covered by a defined benefit plan with the North Carolina Teachers' and State Employees' Retirement System. You may retire with full benefits at;
- age sixty-five (65) with at least five (5) years of contributory service;
- age sixty (60) with twenty-five (25) years of service credit; or
- any time after you have thirty (30) years of service credit regardless of age.
You may take early retirement, which means you will receive a reduced monthly retirement payment, either at age fifty (50) with at least twenty (20) years of service credit or age sixty (60) with at least five (5) years of contributory service. Retirements may be processed one hundred and twenty days (120) before the date of retirement. All retirements are effective the first of a month.
Due to the high volume of retirement questions, Guilford County Schools Benefits Department conducts retirement webinar information meetings during the year. These meetings are designed to answer questions regarding retirement and explain the retirement process. It is advisable that employees begin to attend the retirement webinar information meetings at least two (2) years prior to retirement. You can access dates and times here Employees may access their retirement accounts online at the retirement system’s website via ORBIT. For additional information visit www.myncretirement.com. Active/Retired Employees: (919) 814-4590
E-mail Address: firstname.lastname@example.org
Navigating Your State Health Plan Benefits and Medicare - Understanding Your State Health Plan Benefits at Retirement
The State Health Plan website provides extensive information to help Guilford County School employees, retirees and those individuals who are thinking of retiring understand how the State Health Plan Benefits work with your Medicare Benefits. It is highly recommended that you thoroughly explore this summary to help you better understand and decide which plan is right for you. Please click on the following link to access this important information: State Health Plan: Retirement and Medicare. State Health Plan Webinars entitled "Understanding Your Medical Plan Options When You Become Medicare Eligible" are available via archive on the State Health Plan website: SHP Archive These free SHP Webinars are designed for active employees who will soon be 65, are already 65 or older and retirees getting ready to turn 65. Each webinar is approximately 2 hours in length, will explain important information regarding Medicare, retirement health benefit options and offer the opportunity for members to ask questions. Please click the following link to access upcoming webinars through the State Health Plan: State Health Plan Webinars