Permanent full-time employees are covered by a defined benefit plan with the North Carolina Teachers' and State Employees' Retirement System. Employees are required to contribute 6% of their monthly salary through payroll deduction. CMS 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.
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 contributory service.
