1. Understanding
Your Benefits

2. Mandatory Benefit Deductions
OASDI HI
Federal Withholding
State Withholding
TSERS
ORP

3. Benefits and Payroll Information
Your Monthly Check Stub:
OASDI (Old Age and Survivors Disability Income)
or Social Security Tax = 6.20% of monthly salary.
Extension matches this tax at 6.20% monthly.
HI (Health Insurance)
or Medicare Tax=1.45% of monthly salary.
Extension matches this tax at 1.45% monthly.

4. ORP (Optional Retirement Plan):
Federal Withholding:
Based on marital status and exemptions claimed.
State Withholding:
TSERS (Teachers and State Employee’s Retirement System): Employee contributions= 6% of monthly salary before taxes.
Extension matches State Retirement of %
ORP (Optional Retirement Plan):
Employee contributions= 6% of monthly salary before taxes.
Extension matches State Retirement of %

5. Deadlines for Changes Benefit Plan Deadline
The University has a payroll deadline of the 10th of the month with the exception of December.
Benefit Plan Deadline
Whenever changes to benefit plans need to be made, such as adding or deleting dependents, forms must be completed and received in our office by the 10th of the month prior to the desired date change is to take place.

6. Direct Deposit of Salary
University Employees must participate in the Direct Deposit Program.
Changes in banking institutions must be completed and processed no later than the 10th working day in any month.
We suggest the old account “NOT” be closed until deposit into the new account has been made.

7. University Leave Programs
Annual Leave
Sick Leave
Shared Leave
Family Medical Leave
Family Illness Leave
Civil Leave
Military Leave
Mentor/Volunteer Leave

8. Annual and Sick Leave Accrual
Annual and Sick Leave are Accrued Monthly.
Employees must work greater than half the working days of the month to accrue annual and sick leave.
Annual and Sick Leave must be taken in 15 minute increments.

9. Annual Leave Accrual
Vacation Leave is Accumulated through December 31st of each year.
Vacation Leave Accrued above the Maximum limit allowed by the University as of December 31st of each year will convert to sick leave.

10. Calendar Year Annual Leave
Maximum accumulation:
Full-time employees is 240 hours
3/4 time employees is 180 hours
1/2 time employees is 120 hours

11. Sick Leave Accumulation
Accumulated indefinitely
Sick Leave can be used towards retirement credit
Employees do not forfeit unused sick leave except upon
resignation.

12. EPA Leave Earning Rates Leave Earnings based on FTE status

13. SPA Leave Earning Rates
Vacation Leave is Earned Based on an Employee’s FTE and Years of Service.

14. Creditable State Service
Employee transferring from another creditable NC State Government Agency
or county agency can rollover their annual, bonus, sick leave balances under
the following provisions.
SPA Employees:
Vacation leave will be accepted from your previous employer.
Accumulated vacation leave is transferable if there is not a break in service.
EPA Employees:
Annual Leave – NC State University does not accept the transfer of annual leave. This includes any leave from State of North Carolina agency or local North Carolina Government,or a UNC constituent institutions.
Accumulated sick leave is reinstated if re-employed within 5 years from date
of separation from a state or eligible local agency.
Bonus Leave (All NCCE Employees): The transfer of bonus leave will be
accepted based on the agreement in place by the employing county and
NC State University – NCCE.

15. Pre-Taxed Benefits

16. There are Three Categories
Of Pre-Taxed Benefits
Retirement
Health Insurance
NC Flex

17. Teachers State Employees Retirement System
North Carolina
Teachers State Employees Retirement System
TSERS

18. Immediate Participation
Defined Benefit Retirement System
Contributions Paid Before Taxes

19. 5 year Membership Required for Vesting
Guaranteed Retirement Benefits
Retirees Receive State Health Coverage Cost Free

20. Employee Contribution
Employee Contributes 6% of Monthly
Gross Pay - Extension Matches at
5.815%
All Contributions are Deposited in the State Retirement System

21. Death Benefits 12 Months of Contributing Service
Equal to Previous 12 Months of
Salary
Continues up to 180 Days After Retirement/Separation
Minimum $25,000
Maximum $50,000

22. DIP Disability Income Plan
Employees are Eligible for Short-Term Disability Coverage After One Year of Creditable Service
60 Day Waiting Period to Qualify for Short-Term Disability
Employees are Eligible for Long-Term Disability Coverage After Five Years of Creditable Service

23. When Can I Retire ?

24. Service Retirement Eligibility - Full Benefits
30 Years with No Age Limitation
25 Years & at Least Age 60
5 Years & at Least Age 65

25. Early Retirement Eligibility
-Reduced Benefits
20 Years & at Least Age 50
5 Years & at Least Age 60

26. Optional Retirement Program ORP

27. Optional Retirement Program
Alternative to the Teacher’s and State Employees Retirement System (TSERS)
Defined Contribution Plan
Allows portability and greater choice of investment and distribution options

28. Who is Eligible?
Employees in EPA positions who work 30 hours or more per week
Employees with the following appointments can participate in the ORP:
Senior Academic & Administrative Officers
Faculty with the rank of Instructor or above
Lecturers who are equivalent to Instructor
Cooperative Extension Field Faculty,
Instructional and Non-Research Faculty

29. Defined Contribution Plan vs. Defined Benefit Plan
Retirement Benefits not based on predetermined formula
Employee determines investment options for employee/employer monthly contributions
Defined Benefit Plan
Retirement Benefits based on predetermined formula
TSERS oversees investment of monthly contributions

30. ORP Election Period
Eligible employees have 60 days to elect participation in the ORP
ORP election is irrevocable as long as the employee remains in an eligible position
Failure to enroll within eligibility period automatically becomes a member of TSERS

31. ORP Contributions
Employee and Employer contributions are established yearly by General Assembly
Fiscal Year Contributions are:
Employee – 6% Employer – 6.84%
(Other 3.645% Paid for Health and Disability Insurances).
Contributions are made on a pre-taxed basis
Contributions are invested in an annuity contract or mutual fund offered by approved carriers

32. Allocation of Monthly Contributions
Multiple options - Contributions can be allocated to one or more approved carriers
Flexibility – Allocations may be changed at any time within university payroll deadlines

33. ORP CARRIERS
TIAA-CREF
VALIC
LINCOLN LIFE
FIDELITY INVESTMENTS

34. ORP Vesting & Portability
Immediate vesting in the value of your contributions
Employer contributions are vested after five years of contributory service
Portability – Ability to transfer accumulated retirement benefits using same carrier or change your benefit to a retirement plan sponsored by your new employer

35. Disability Benefits - ORP
ORP Account available for income benefits upon retirement
Coverage under NC Disability Income Plan
Voluntary coverage under Standard Disability Plan
Eligible to participate in voluntary supplemental plans offered by University

36. ORP - Death Benefits
Total value of account (employee/employer contributions) is 100% vested and available to beneficiary
If death occurs while an active employee, beneficiary can designate distribution option
If death occurs during retirement, payments will continue according to annuity option chosen

37. ORP Retirement Health Insurance
Eligible to continue health insurance coverage upon retirement with five years of ORP Participation
ORP Annuitant must begin to receive an ORP on a monthly basis

38. When Can I Retire ?

39. ORP – Retirement Benefits
No age or service requirements to meet
Monthly benefit is based on account balance, age of employee, age of annuity partner, and income option selected.

40. Questions & Forms

41. Health Insurance

42. The State Health Plan Choose Your Own Physician
Physicians Services with Co-pay
Deductible (July 1 - June 30)
Minimum $350 Per Year With $1050 Limit
80/20 Formula

43. NO Preventative Dental/Vision Coverage Co-Pay Prescription Drug Plan
Wellness Benefit
NO Preventative Dental/Vision Coverage
Co-Pay Prescription Drug Plan
$10.00 Generic
$25.00 Preferred Brand without Generic
$40.00 Preferred Brand with Generic
$50.00 Non- Preferred Brand

44. State Health Plan Monthly Premiums
Employee Only – $0.00
Employee/Child(ren) – $200.18
Family Coverage – $480.14
Employer Matching Contributions for all levels of coverage is $321.14

45. Who is Eligible?
The University pays the full cost of the premium for Employees working at least ¾ time in a permanent position for 9 or more months per year.
Note: Permanent employees who work between hours per week (0.5 FTE) for 9 or more months per year are eligible for health insurance; however, they are responsible for the total cost of the premiums.

46. When Does Coverage Begin?
1st Day of Month Following Hiring Date
Must Elect Coverage Within
30 Days of Hire
Coverage is Pre-taxed and Pre-paid

47. Enrollment Dates & Changes
Annual Enrollment for Health Insurance is August of Each Year With an October 1st Effective Date
Changes Can be Made With Qualifying Events

48. Examples of Qualifying Events
Marriage, Divorce, or Legal Separation
Birth or Adoption of Dependent Child
Commencement or Termination of
Employment for Employee or Spouse
Switch from Full-Time to Part-Time
(vice-versa by employee or spouse)
Dependent Child Ages Off Coverage or
Change of Student Status (Age 19 or 26)

49. For answers to your questions, refer to:
Your Health Benefits
Summary Plan Description or
statehealthplan.state.nc.us
benefits at a glance handout

50. Savings Convenience Flexibility

51. Offers five popular benefits:
Health Care Flexible Spending Account
Dependent day Care Flexible Spending Account
Vision Care Plan
Voluntary Accidental Death and Dismemberment Insurance
Traditional Dental Plans
Supplemental Medical Plan
New in 2005 – Cancer Plan
New in 2005 – Term Life Insurance

52. After Tax Voluntary Plans

53. Life & Disability
Plans

54. MetLife - Group Term Life Insurance
Provides coverage to employees’ up to five times their salary:
Minimum $20,000 Maximum $500,000
Premium is based on: Face amount of coverage, and the rate per $1,000 of coverage associated with age bracket.
Spousal and Dependent coverage
Spouse: $10,000 Increments Up to $50,000
Dependent Children: $2,000 or $10,000.
Portable

55. Liberty Mutual Disability Insurance
Voluntary Long-Term Plan
60 Day Waiting Period
Receive up to 66 2/3 % of Monthly Gross Salary
($250 minimum, $10,000 maximum)
Suspends During Paid Leave & Workers Compensation
Coordinates with Social Security & DIP

56. STANDARD DISABILITY Replaces a percentage of employees monthly salary
Defines disability as being completely unable to perform normal occupation or any other occupation
Protects employee’s retirement income
Provides partial disability benefits
Assists with Social Security Application Process
Pays survivor benefits

57. Additional Benefits

58. Personal Liability Plan State Employees’ Credit Union Wachovia Bank
Mutual of Omaha and Med America
Hyatt Legal Plan
Personal Liability Plan
State Employees’ Credit Union
Wachovia Bank
Travelers Insurance
Savings Bonds
Tax Deferred Savings
College Savings Plan-529
Moving With the Pack

59. Prudential Long-Term Care
Provides Custodial Care, Adult Daycare, Home Health Care and Nursing Care
Monthly Premiums are Based on Age and Benefit Options Elected
Daily Benefits from $100 to $250
Waiting Periods Ranging From 60 to 90 Days

60. Hyatt Legal Plan
Provides Legal Representation for Various Legal Liabilities as Set Forth by the Plan
Monthly Premium $8.00
One time a Year Enrollment - November of Each Year with a January 1 Effective Date

61. Personal Liability Plan
Provides personal liability coverage to employees against civil suits pertaining to slander, defamation, false arrest, e.t.c.
One-time yearly premium based on professional classification plus $15.00 administrative fee
Coverage Limits Based on Liability
Bodily Injury - $500,000
Reimbursement of Attorney Fees - $5,000
Bail Bonds Reimbursement - $1,000
Prof. Liability Aggregate Limit – $2,000,000

62. State Employees’ Credit Union
State Employees’ Credit Union Offers Various Financial and Savings Programs for State Employees and Their Immediate Family Members.
Please Contact , the web at or Visit Your Local Branch for Additional Information.

63. Wachovia Bank
Wachovia Bank Offers “At Work Checking Account” with NO Minimum Balance requirement, NO Monthly Service Fee, and Free On-Line Banking with Bill-Pay Feature.
Various Financial and Savings Programs to Employees.
Employee ID Card could act as Bank/ATM Card.
Discounts Offered for Services such as Financial Planning, Retirement Accounts, and Broker-Assisted Trades, to name a few.

64. Travelers Insurance
Provides employees with discounted auto, home, and renter’s insurance through monthly payroll deduction
Monthly premium based on coverage limits and quote by agent

65. Denominations Available Offered Through Monthly Payroll
Savings Bonds
Denominations Available
$50.00 for $ Bond
$ for $ Bond
$ for $ Bond
$ for $ Bond
Offered Through Monthly Payroll
Deduction

66. Tax Deferred Annuities
Offered Through
401(k) Prudential
457 Deferred Compensation
(Great West Insurance Company)
403-B VALIC Lincoln National
TIAA-CREFF MetLife
Nationwide Prudential
Fidelity

67. Monthly contributions vary by each vendor
The University does not match towards these plans
IRS maximum yearly contribution
- $13,000 for the 457 plan
- $13,000 for the 401k plan
- $13,000 for the 403B plans

68. Plans are subject to applicable taxes and penalties for early withdrawal
Hardship withdrawals are available under most plans
Plans have loan provision

69. North Carolina College Savings Plan-529
Save for College through Post-Tax Payroll Deductions into a very flexible and beneficial college savings program.
Program is Administered by the North Carolina College Foundation and Provides an array of Investment Options ranging from Conservative to Aggressive.
Employees may set aside money for college for their children, themselves, or others and pay no income tax on the earnings or interest.
Visit their Website for more details at

70. Moving with the Pack Preferred Real Estate Services Program
For Current and New Employees can enjoy this benefit whether moving To or Within the area.
Administered through Fonville Morrisey Relocation, employees receive University negotiated discounts and value added services.
A comprehensive Real Estate Services Program tailored to meet the unique needs of each employee and designed to minimize the stress associated with moving.
Services include cash-back incentives for home sale and purchase, utility connection and disconnection convenience services, mortgage discounts, rental assistance, moving van services, and more…
For additional information visit: MovingwiththePack.com

71. “Who Should I Contact?”
Should you have any questions regarding
personnel matters please contact:
College Of Agriculture and Life Science Personnel
Campus Box 7917
Raleigh, NC
(919)
Fax: (919)