Active Members Have the Ability to Transfer NC 401(k) and NC Deferred Compensation (457) Funds
Effective January 1, 2011, retiring members of the Teachers’ and State Employees’ Retirement System (TSERS) and Local Governmental Employees’ Retirement System (LGERS) with an existing NC 401(k) or NC Deferred Compensation (457) account through Prudential Retirement, will have the opportunity to transfer all or a portion of their NC 401(k) and/or NC Deferred Compensation funds at retirement to the North Carolina Retirement Systems. This option is available to retiring TSERS or LGERS members, including law enforcement officers, who have NC 401(k)/NC 457 account balances through Prudential Retirement, the Plan’s third-party administrator.
How can I learn more about the NC 401(k)/NC 457 Transfer Benefit?The North Carolina Retirement Systems and Prudential Retirement have partnered with the State Employees’ Credit Union (SECU) to provide you with information on the Transfer Benefit. Contact any one of the partners for more information.
Visit the NC 401(k)/NC 457 Transfer Benefit website at www.nclifetimeincome.org. If you do not have access to the Internet or have further questions about the material on the website, SECU call center staff is available to assist you 24 hours a day at 1-888-732-8562. Press “3” to reach an experienced call center staff person.North Carolina Retirement Systems – The NC Retirement Systems will help you identify or obtain the correct forms to complete, will address questions about how to apply for the Transfer Benefit, or check on the status of your application. Visit the NC 401(k)/NC 457 Transfer Benefit educational website at www.myncretirement.com. Click on the ORBIT link to use the Transfer Benefit Estimator in your personal ORBIT account. NC Retirement Systems call center staff is available to verify the status of your application. The call center is open Monday through Friday from 8:30 a.m. – 5 p.m. at 1-877-NCSECURE (1-877-627-3287).
Prudential Retirement – Prudential’s call center staff will answer questions about your existing NC 401(k) or NC Deferred Compensation (457) account(s), or will assist you in establishing a new account, if you are employed by a participating employer. Learn about the Plan features by visiting www.ncplans.prudential.com and the Prudential Retirement call center staff are available Monday through Friday from 8 a.m. to 9 p.m. at 1-866-NCPLANS (1-866-627-5267).