Employer Benefits Contributions
NC State 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.
|Benefit Plan||Employer Contribution for the 2012-2013 Fiscal Year|
|Teachers' and State Employees' Retirement System (TSERS)||
NC State currently contributes 14.23% of the amount of each participant's gross pay to TSERS. The employer contribution is distributed as follows:
|Law Enforcement Officers' Retirement System (LEORS)||
NC State currently contributes 19.23% of the amount of each law enforcement officer's gross pay to LEORS. The employer contribution is divided as follows:
|Optional Retirement Program (ORP)||
NC State currently contributes a total of 12.58% of each participant's gross pay to the Optional Retirement Plan as follows:
|State Health Plan||
NC State pays $432.66, per month, towards the PPO health insurance coverage for each full-time employee which results in no monthly premium cost for employee-only coverage in the Basic and $22.76 employee cost in the Standard plan.
|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 savings 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 through providing coverage to a large group of employees.