NC Deferred Compensation Plan (457)
The North Carolina Public Employee Deferred Compensation Plan, provided under Section 457 of the Internal Revenue Code as created by North Carolina State Statute and is overseen by the State Treasurer's Office and a Board of Trustees. The Plan's Board has contracted with Prudential to administer this unique supplemental retirement savings plan.
How Do I Enroll?
Eligible employees may enroll in the NC Deferred Compensation Plan (457) at any time. Employees may obtain enrollment information by contacting Tripp Madden, our local NC 457 representative. He can assist you with enrolling in the plan and answer any question you may have about the plan. His email is firstname.lastname@example.org and his phone number is (919) 522-5514.
How Does the Plan Work?
Click here to see a chart that explains how the NC 401(k) and NC 457 plans work. Contributions can be made on a pre-tax or post-tax (Roth) basis.
Note: Combined, 401(k) and 403(b) contributions cannot exceed the federal annual maximum contribution limit; however, additional contributions may be made to the NC Deferred Compensation Plan (457) as there is a separate limit for this plan.
Your Supplemental Retirement Plan Decision Guide - This guide compares all of the supplemental retirement plans available to eligible faculty and staff.
Guiding Policies and Other Resources
- State of NC 457 Deferred Compensation Plan
- Contact Tripp Madden, our NC 457 Representative at 919/522-5514 or Tripp.Madden@prudential.com
- NC 401(k) Plan Service Center - 1-866-627-5267
- NC 457 Deferred Compensation Plan Enrollment Form