RETIREMENT

Permanent full-time employees are covered by the North Carolina Teachers and State Employees Retirement System. Employees who are involuntarily terminated or who resign after ten(10) or more years of Retirement System membership, may withdraw their retirement contributions, plus any statutory interest earned. Persons who voluntarily resign with less than ten (10) years of membership in the Retirement System may withdraw only the funds contributed by the individual. Persons leaving public school employment may elect to leave their contributions in the Retirement System.

Information regarding retirement eligibility and options can be found in the Teachers and State Employees Retirement System Handbook.

Employment of Retirees

Employees who retire through the Teachers and State Employees can be reemployed under the following circumstances

• 6-month break required (only bonafide volunteering allowed during six (6) month break)

• must not exceed earnings CAP. (If exceeded, retirement pension will be suspended also causing your health insurance benefits to be suspended.)

• employer is not responsible for tracking retiree’s CAP

• must be part-time (less than 30 hours per week) if status is permanent.

• may be interim, substitute or temporary status [full-time (limited to 6 months) or part-time, no benefits for either. (See the North Carolina Public Schools Benefits and Employment Policy Manual Section 1.1.2)]

• must NOT be in permanent full-time status