NC 403(b) Program News
In December 2021, after an in-depth analysis and recognizing extremely low participation, the North Carolina Supplemental Retirement Board of Trustees decided to discontinue the NC 403(b) Program, and focus on the larger, low-cost,* and more popular NC 401(k) and NC 457 Plans.
Please know that employer and employee contributions may only continue through the pay period ending June 30, 2022. The NC 403(b) Program will stop accepting employee and employer contributions after this pay period. In addition, your assets will need to be removed from your NC 403(b) Program account by September 30, 2022.
For more information visit .
Saving in the Supplemental Plans makes a big difference
Why these plans?
- Paying less for diverse investments
- Exceptional value
- Meaningful board oversight
- Only supplemental plans offered by the State of NC
Get ready to enroll
Find your eligible plan(s) and enroll
These numbers will be required for enrollment:
Plan Number:
Sub-Plan Number:
What plan is best for me?
Understanding some of the differences may help you decide which works best for you—if your employer offers more than one plan.
Plan Features
Plan Name | Eligibility | Investments | Access to Money | Fee Structure |
---|---|---|---|---|
NC 401(k) Plan |
Employees actively contributing to:
Also includes law enforcement officers and participants in the Optional Retirement Program |
Diverse investment options available
GoalMaker® assists with investment selection at no additional cost For additional information, see the Fund Fact Sheets opens in new window for details. |
After employment, withdrawal options include:1,5
While employed, withdrawal options include:
|
For details see NC Supplemental Retirement Plans Fee Statement PDF opens in new window |
NC 457 Plan |
Employees of participating state and local governmental entities
|
Diverse investment options available
GoalMaker® assists with investment selection at no additional cost For additional information, see the Fund Fact Sheets opens in new window for details. |
After employment, withdrawal options include:5,6
While employed, withdrawal options include:
|
For details see NC Supplemental Retirement Plans Fee Statement PDF opens in new window |
Footnote
1Amounts withdrawn are subject to applicable taxes and plan restrictions. If taken before age 59½, they may also be subject to a 10% federal income tax penalty unless another exception applies.
2If you terminate from service, requests for withdrawals or distributions from your account (not associated with retirement) will not be processed for 60 days.
3Hardship withdrawals are subject to income tax. For the NC 401(k) Plan, a withdrawal prior to age 59½ also is subject to a 10% penalty, unless an exclusion applies.
4Any outstanding loan balance not paid back under plan rules after termination of employment becomes taxable in the year of default. Under the Tax Cuts and Jobs Act, for defaults related to termination of employment after 2017, the individual has until the due date of that year's return (including extensions) to roll over the outstanding loan amount to an IRA or qualified employer plan.
5Amounts rolled over to another qualified retirement savings vehicle or used to purchase service credits are not subject to current income tax.
6Amounts withdrawn are subject to applicable taxes and plan restrictions.
Education
The best way to prepare for tomorrow is by getting information you need today.

Need assistance?
Contact your Retirement Education Counselor or call 866-NCPlans (866-627-5267).