One of the North Carolina Department of State Treasurer’s (NC DST) primary missions is to help its public servants become “retirement ready.” For employers, offering our valuable, but optional, supplemental retirement plans is a solid step in the right direction.
Taking it to the next level involves voluntarily offering some form of employer contribution. Our experience and research have made it clear that when NC local employers offer a contribution, their plan participation rate is nearly twice the average participation rate of employers without a contribution, 75 percent versus 38 percent. In 2019, this mission was accomplished despite a challenging environment where new pension contributions increased due to legislation.
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- July 22, 2020 Create Date
- August 31, 2023 Last Updated