Skip Navigation
Cape Fear Community College logo

Benefits

Retirement

Cape Fear Community College full-time employees automatically become members of the North Carolina Teachers’ and State Employees’ Retirement System (TSERS). Employees contribute 6% of their pre-tax salaries into the system.

Retirement System Website
Retirement Handbook

Vesting
Members of the retirement system become vested after a minimum of five years of retirement service credit (including service with other agencies) if hired prior to August 1, 2011, or ten years if hired on or after August 1, 2011. Vesting means that you are eligible to apply for lifetime monthly retirement benefits once you meet the minimum age and service requirements set forth by the retirement formula (as long as you do not withdraw your contributions).

Retirement Eligibility
Employees may retire with unreduced benefits after:

  • age 65 with 5 years of creditable service (10 years if hired after August 1, 2011)
  • age 60 with 25 years of creditable service, or
  • at any age with 30 years of creditable service

Employees may retire early with a reduce benefit after:

  • age 60 with 5 years of creditable service (10 years if hired after August 1, 2011), or
  • age 50 with 20 years of creditable service

 

Retiree Medical
If you were first hired prior to October 1, 2006, after you retire the state will pay the same amount of employee-only premium as the college pays for active employees. If you were hired on or after October 1, 2006, you must have 20 or more years of creditable service to receive this full benefit. If you have between 10 and 20 years of service, the state will pay 50%. If you retire with 5-10 years of service, you must pay the full premium. Beginning January 1, 2014, Medicare-primary retirees have a new set of State Health Plan options available. Details are available by clicking on this website.

 

 

Thinking about retirement within the next couple of years? Here are some resources to help you get started:

 

Allyson Greeson, Senior HR Generalist, is the point of contact for employees ready to retire. She can be reached by email or at (910) 362-7028.

 

 

Return to benefits

 

Pages: 1 2 3 4 5



Wilmington Campus
411 North Front Street
Wilmington, NC 28401

North Campus
4500 Blue Clay Road
Castle Hayne, NC 28429

Burgaw Center
100 East Industrial Drive
Burgaw, NC 28425

Hours of Operation
Monday-Friday: 8:00am to 5:00pm

Accessibility Services

Cape Fear Community College does not discriminate on the basis of race, color, national origin, sex, disability, religion, political affiliation or age.