Employer Benefits Contributions
NC State makes a contribution towards the cost of employee benefit plans. Below is a summary of how the full or partial cost of benefit plans is provided for employees. Here are the rates for FY 2024-25. See Fringe Benefit Rates
Teachers’ and State Employees’ Retirement System (TSERS)
NC State currently contributes 24.04% of the amount of each participant’s gross pay to TSERS. The employer contribution is distributed as follows:
- Retirement System Pension Fund 16.79%
- Death Benefit Trust Fund .13%
- Retiree’s Health Benefit Fund 6.99%
- Disability Income Plan .13%
Law Enforcement Officers’ Retirement System (LEORS)
NC State currently contributes 29.50% of the amount of each law enforcement officer’s gross pay to LEORS. The employer contribution is divided as follows:
- Retirement System Pension Fund 17.38%
- Death Benefit Trust Fund .13%
- Retiree’s Health Benefit Fund 6.89%
- Disability Income Plan .10%
- Supplemental Retirement Income Plan 5.00%
Optional Retirement Program (ORP)
NC State, the employer, contributes a total of 13.83% of each participant’s gross pay to the Optional Retirement Plan. The employer contribution is divided as follows:
- Employee’s Individual ORP account 6.84%
- Retiree’s Health Benefit Fund 6.89%
- Disability Income Plan 0.10%
State Health Plan
For 2024, NC State pays $674.58 per month towards the State Health Plan insurance coverage for each full-time non-temporary employee for employee-only coverage in the 70/30 health plan and the 80/20 health plan.
For temporary employees who elect the High Deductible Health Plan, NC State pays $159.88 per month towards the premium cost.
These premiums paid go into effect December 2023 for January 2024 coverage.
NC Flex Benefits
NC State faculty and staff have access to a variety of group benefit plans through the NC Flex Program. The university doesn’t directly contribute to the cost of these benefits; however, negotiated rates mean lower monthly premiums for everyone and, because NC Flex benefits are payroll deducted on a pre-tax basis, an immediate saving occurs.
Supplemental Benefit Programs
NC State provides several supplemental benefits such as life and disability insurance. Just like the NC Flex benefits, low premiums are negotiated by providing coverage to a large group of employees.