1. Retirement Systems and Benefits
The information contained in this presentation is not a contract and is subject to change by the proper authorities. It should be understood that explanations in this summary cannot alter, modify or otherwise change the controlling legal documents or general statutes in any way, nor can any right by reason of any inclusion or omission of any statement in this presentation.

2. Retirement System Options
Teachers’ and State Employees’ Retirement System (TSERS)
Optional Retirement Plan (ORP)
Mandatory enrollment in TSERS or ORP

3. TSERS Plan Highlights Traditional defined benefit plan
Steady monthly income for life
Monthly benefit determined by a formula
Stable and secure retirement income
Professional asset management by the NC Treasurer’s Office
Accumulate retirement income without individual risk

4. TSERS Plan Highlights 6% Employee contribution each month
17.13 University contribution each month
10.77% Pension accumulation fund, 6.05% Retiree health insurance reserve, .14% Disability income plan, .16% Death benefit trust, .01% Qualified excess benefit arrangement
5 year vesting

5. ORP Highlights Defined contribution plan
Greater control over investments
Greater choice of distribution options
Portability outside of North Carolina
2 Vendors to choose from:
TIAA-CREF
Fidelity

6. ORP Highlights 6% Employee contribution each month
13.03% University contribution each month
6.84% contributed to participants account, 6.05% Retiree health insurance reserve, .14% Disability income plan
100% Vested in employee contributions Day 1
100% Vested in employee and employer contributions after 5 years

7. TSERS vs. ORP TSERS ORP AGE Risk and Decisions Portability Retirement
May favor employees who are 45+ years of age and plan to retire from UNC.
May favor employees who enter at a earlier age.
Risk and Decisions
Low investment risk and no investment decisions.
May encounter greater investment risk-depends on investment choices. Requires decision making.
Portability
Portable to other UNC Schools or NC State Agencies. Credits transferrable to the Local Government System.
Portable to other University employers who sponsor a “like” plan.
Retirement
Full and reduced retirement options that depend on age and service.
Retirement at any age with a 10% penalty for withdrawals before age 59 and a half.

8. Retirement and Health Insurance
Employees hired after 10/1/2006 must satisfy minimum service requirements to be eligible for health insurance upon retirement
Free or Employee Premium (depending on chosen plan) with 20 or more years.
50% with between years (plus employee premium depending on chosen plan)
Full cost between 5-10 years

9. Supplemental Disability
The Standard and Liberty Mutual
Availability dependent on Retirement choice
ORP = The Standard
TSERS = Liberty Mutual
Both provide additional replacement income in the event of disability
Both provide coverage during the first year of employment

10. State Health Plan Eligibility and Enrollment
Permanent Employees
Must enroll within 30 days or must wait until the next Annual Enrollment
3 Preferred Provider Plans available
70/30 provided with no employee premium
80/20 provided with an employee premium reduced through Healthy Incentives
Consumer Directed Health Plan (CDHP) with an employee premium reduced through Health Incentives
Discontinued for Benefit Year 2018

11. State Health Plan
Health Incentive to reduce premium with the 80/20 or CDHP
Name your Primary Care Physician (PCP)
Attest that you do not use Tobacco Products
Complete a Health Assessment during the enrollment process
If the health assessment will not work online, it can be completed by telephone by calling (800)

12. State Health Plan
Dependent premiums are paid by participating employees
Dependent coverage will not be approved without documented proof of dependents
Health Insurance deductions are payroll deducted on a pre-tax basis
State Health Plan is a Calendar Year Plan Year
New enrollment will cover the remainder of the 2017 plan year

13. State Health Plan
Annual enrollment for the new calendar year plan year scheduled for October 1, 2017 – October 31, 2017
New plan year will be from January 1, 2018, December 31, 2018
There will be no plan design changes in 2018 for the 80/20 and the 70/30
Premium information will be available soon

14. State Health Plan Enrollment must be completed online
Telephone enrollment: (855)
Log-in ID: Will be provided by HR Benefits
Your employment information is automatically uploaded in the enrollment system
The upload occurs each Monday.

15. Traditional 70/30 Plan: Highlights
How Plan Coverage Works
PLAN DESIGN FEATURE
IN NETWORK
OUT OF NETWORK
Annual Deductible (Single/Family)
$1,080/$3240
$2,160/$6,480
Coinsurance
You pay 30% after deductible
You pay 50% after deductible, plus difference between charge and allowed amount
Preventive Care
Office visit: $40
Specialist visit: $94
50% after deductible dependent on service
Office visits (non-preventive)
You pay 50% after deductible
Inpatient Care
You pay 30% after deductible and $337 copay
You pay 50% after deductible and $337 copay
Emergency Room-Copay waived w/admission or observation

16. Enhanced 80/20 Plan: Highlights
How Plan Coverage Works
PLAN DESIGN FEATURE
IN NETWORK
OUT OF NETWORK
Annual Deductible (Single/Family)
$1,250/$3,750
$2,500/7,500
Coinsurance
You pay 20% of eligible expenses after deductible
You pay 40% of eligible expenses after deductible, plus difference between charge and allowed amount
Preventive Care
Covered at 100%
40% after deductible dependent on service
Office visits
(non-preventive)
Office visit: $25 ($10 if you use the PCP on your ID card)
Specialist visit: $85 ($45 if you use a Blue Options designated specialist)
You pay 40% after deductible
Inpatient Care
$450 copay, then 20% after deductible; copay not applied if you use Blue Options designated hospital
$450 copay, then 40% after deductible
Emergency Room-Copay waived with admission
$300 copay, then 20% after deductible
$ 300 copay, then 20% after deductible

17. CDHP (with HRA): Highlights
How Plan Coverage Works
PLAN DESIGN FEATURE
IN NETWORK
OUT OF NETWORK
HRA
The Plan funds your Health Reimbursement Account (HRA ) annually based on coverage level you elect (Employee, Employee +1, Employee + 2 or more)
Annual Deductible (Single/Family)
$1,500/$4,500
$3,000/$9,000
Coinsurance
You pay 15% of eligible expenses after deductible
You pay 35% of eligible expenses after deductible, plus difference between charge and allowed amount
Preventive Care
Covered at 100%
Not covered
Office visits
(non-preventive)
You pay 15% after deductible
You pay 35% after deductible, plus difference between charge and allowed amount
Inpatient Care
You pay 15% after deductible; $200 added to HRA if a Blue Options designated hospital is utilized
Emergency Room
You pay 15% after deductible; $50 added to HRA if a Blue Options designated hospital is utilized

18. NC Flex Additional Supplemental Benefits
Employee pays full premium for selected plans
Plans available:
Health care flexible spending account (HCFSA), Dependent day care flexible spending account (DDFSA), Dental, Vision, Critical Illness, Cancer, Core Accidental Death & Dismemberment, Voluntary Accidental Death & Dismemberment (AD&D), Group Term Life, Tricare Supplement

19. NC Flex Enrollment must be completed online https://wcu.hrintouch.com
Same enrollment system as the State Health Plan
May select any, all, or none of the offered plans
Pay special attention to waiting periods, lockout periods, and evidence of insurability forms.

20. When Coverage Becomes Effective
Coverage Effective Dates
PLAN NAME
COVERAGE EFFECTIVE
Health Benefits
First of the month or first of the second month following employment date
NCFlex Benefits
First of the month following employment date
Short-Term Disability
After one year of contributing membership to TSERS or ORP
Long-Term Disability
After five years of contributing membership to TSERS or ORP
Supplemental Disability Plan
Employment date
TSERS
ORP
Supplemental Retirement Plans
May enroll at anytime

21. Enrollment for Health Benefits
You must enroll within 30 days of your employment date
Link to enrollment site:
Health insurance premiums are paid one month in advance of coverage (i.e., January premiums pay for February coverage)
If you fail to enroll in your first 30 days, you must wait until the next Annual Enrollment to gain coverage for the next plan year.
You must provide proof of dependents covered on the plan in the form of Marriage Licenses for Spouses and Birth Certificates for Children. Otherwise, coverage will not be approved!!

22. Enrollment for Income Protection Programs
All employees must complete online enrollment within 60 days of their employment date
Enroll for Supplemental Disability Insurance (after-tax) through The Standard, if you choose the UNC ORP
Enrollment Forms available upon request
Enroll for Supplemental Disability Insurance (after-tax) through Liberty Mutual, if you choose TSERS

23. Enrollment in TSERS
You do not need to complete an enrollment form for TSERS, but will be automatically enrolled.
You must designate a beneficiary by completing the following forms:
Form 2DB - Designating Beneficiary(ies) for the Death Benefit
Form 2RC - Designating Beneficiary(ies) for The Retirement System Return of Contributions
To access forms and your retirement account, please visit ORBIT at

24. Enrollment in the ORP You must complete the following forms:
Form ORP-1 The University of North Carolina Optional Retirement Program (ORP) Election And Forfeiture Agreement
ORP Carrier Enrollment: Visit your chosen vendor’s website found in the Mandatory Retirement Plan Decision Guide and set up your account
Follow the instructions provided by your campus Human Resources/Benefits Office for instructions on where to return forms
You must enroll within 60 days of your date of hire or you will automatically be enrolled in TSERS

25. Enrollment in the Supplemental Retirement Plans
403(b) Plan and 457(b)
Visit
Complete a Salary Reduction Agreement (form and instructions available on the website)
Enroll in the Plan with Fidelity and/or TIAA-CREF
457 Plan
Visit
Complete an NC 457 Deferred Compensation Plan Enrollment Form (forms and instructions available on the website)
Send the form to:
NC Plans Processing Center, PO Box 5340, Scranton, PA 18505, or fax to

26. Enrollment in the Supplemental Retirement Plans
State 401(k) Plan
Visit
Complete an NC 401(k) Plan Enrollment Form (forms and instructions available on the website
Send the form to:
NC Plans Processing Center,
PO Box 5340
Scranton, PA 18505,
or fax to

27. Retirement Systems and Benefits
Matt and other HR staff will be available during the Essential Information Fair, Friday, August 11 from 1:00-3:00 PM
ORP and Supplemental Retirement Vendors will also be available during the Essential Information Fair
One-on-One assistance can be provided on an appointment basis with Heidi Hyatt-extension 3138 or Matt Brown-extension 3139

28. New Faculty Orientation
Thank you for your time!
Any Follow up Questions?
Welcome to Western Carolina University!