[DESCRIPTION: Logos. North Carolina Total Retirement Plans. 4 0 1 k; 4 5 7; 4 0 3 b. State Treasurer for North Carolina. Dale R. Folwell, C P A.] [AUDIO:] [ Music ] [DESCRIPTION: An animation. A clock rolls down a hill.] [AUDIO:] >> We're human, which means we tend to procrastinate. Sometimes it seems practically unavoidable, but when it comes to saving for your retirement, there's a downside. There could be a great cost to waiting. The good news is, you're thinking about it today. [DESCRIPTION: The Cost of Waiting. At age 55, saving $100 per month. Starting at 25. $121,288. Starting at 30. $81,212. Assumptions: Started saving at age 25 compared to age 30. Rate of return 7 percent, compounded annually, saved $100 a month for 30 years and 25 years, respectively. The compounding concept is hypothetical and for illustrative purposes only, and is not intended to represent the performance of any specific investment, which may fluctuate. Withdrawals are generally taxable at ordinary rates. It is possible to lose money by investing in securities. Neither Prudential Financial nor any of its representatives are tax or legal advisors and encourage you to consult your individual legal or tax advisor with any specific questions.] [AUDIO:] Now it's simply a matter of doing it. Here are five key reasons to start saving in the NC 401(k), NC 457, or NC 403(b) plans today. One, the cost of goods and services keeps going up. That means life in retirement will most likely cost more than it does today. [DESCRIPTION: Costs Rise. A line graph. On the horizontal axis, Time from Today to Retirement. On the vertical axis, Cost. A line of data moves up and to the right, rising from today through retirement. The average annual rate of inflation has increased 1 point 8 9 percent over the last 10 years. Source: The Bureau of Labor Statistics, C P I Inflation Calculator, January 2009 through December 2018, https://www.bls.gov/data/inflation_calculator.htm.] [AUDIO:] Two, time is on your side, the more of it the better, and it's never too soon or too late to begin saving. [DESCRIPTION: The More Time, the Better. A bar graph. $10 a Week Can Add Up Over Time. 10 years, $7,438. 20 years, $22,070. 30 years, $50,852. 40 years, $107,473. Assuming a Hypothetical 7 percent Rate of Investment Return. Assumes contributions made at the beginning of the week, hypothetical 7 percent annual effective rates of returns on investments, weekly compounding and reinvestment. The calculations do not take into account leap years. Final amounts are exclusive of any taxes or penalties that maybe due upon distribution. This hypothetical chart is for illustrative purposes to demonstrate the effects of compounding. They do not reflect the actual performance of any specific investment. Individual experience will likely vary. Past performance does not guarantee future results.] [AUDIO:] Three, the sooner you start, the less catching up you may have to do, if any. [DESCRIPTION: The Sooner, the Better. Difference in savings by age 55. Starting at age 25, $121,288 Versus Starting at age 30, $81,212. Assumptions: Started saving at age 25 compared to age 30. Rate of return 7 percent, compounded annually, saved $100 a month for 30 years and 25 years, respectively. The compounding concept is hypothetical and for illustrative purposes only, and is not intended to represent the performance of any specific investment, which may fluctuate. Withdrawals are generally taxable at ordinary rates.] [AUDIO:] Four, you have help right away when selecting your investments. You have access to GoalMaker, a program designed to help you choose your mix of investments. [DESCRIPTION: Assistance Selecting Investments with GoalMaker. Keep in mind that application of asset allocation and diversification concepts does not assure a profit or product against loss in a declining market. It is possible to lose money by investing in securities.] [AUDIO:] GoalMaker is optional and available at no additional cost. Five, you're one step closer to retirement readiness. Start your journey today. [ Music ] [DESCRIPTION: Enroll in the N C 4 0 1 k, N C 4 5 7, and N C 4 0 3 b Plans today. www.NCPlans.prudential.com. 866-N C Plans. (866-627-5267).] [DESCRIPTION: Logos. North Carolina Total Retirement Plans. Prudential. For the N C 4 0 3 (b) Program, shares of the registered mutual funds are offered through Prudential Investment Management Services LLC (P I M S), Newark, NJ, a Prudential Financial company. Retirement Education Counselors are registered representatives of P I M S. Prudential Retirement provides the communications and record keeping services for the N C 4 0 1 (k) and N C 4 5 7 Plans and the N C 4 0 3 (b) Program. With the exception of the N C Stable Value Fund and the N C Fixed Income Fund, the investments offered to you within the N C 4 0 1 (k) and N C 4 5 7 Plans are not offered by or affiliated with Prudential Financial or any of its companies or businesses. Prudential Retirement is a Prudential Financial business. North Carolina Total Retirement Plans and the North Carolina Total Retirement Plans logo are service marks of the North Carolina Department of State Treasurer. GoalMaker's model allocations are based on generally accepted financial theories that take into account the historic returns of different asset classes. Past performance of any investment does not guarantee future results. Participants should consider their other assets, income and investments (for example, equity in a home, Social Security benefits, individual retirement plan investments, etcetera) in addition to their interest in the plan, to the extent those items are not taken into account in the model. Participants should also periodically reassess their GoalMaker investments to make sure their model portfolio continues to correspond to their investment objectives, risk tolerance and retirement time horizon. Retirement products and services by Prudential Retirement Insurance and Annuity Company (P R I A C), Hartford, Connecticut or its affiliates. P R I A C is a Prudential Financial company. Copyright 2021 Prudential Financial, Incorporated and its related entities. Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Incorporated and its related entities, registered in many jurisdictions worldwide. 1010976-00004-00. NO_VI_016_02.]