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Retirement - NC Treasurer Retirement Systems

Who administers the retirement system and what are the current benefits available for Town of Cary retirees? When does an employee become a member of the retirement system?
  • At the end of two full months of employment (regular full-time or part-time employees).
  • Police Officers, Firefighters, and employees transferring from another participating government entity in North Carolina become members on the date of employment. Law Enforcement Officers become members of a separate plan from all other employees.
What if an employee is already in a local or state government retirement system?
  • You may transfer your credit and continue membership without interruption.
What is an employee's mandatory contribution to the Retirement System?
  • 6% of salary which is deducted pretax.
What does the Town contribute to the Retirement System?
  • Currently about 5% to ensure proper funding of the system. The Town's contribution is never added to the individual's account.
When does an employee become vested in the system?
  • After five years of membership, which entitles you to a guaranteed retirement benefit at a later date as long as your contributions remain in the system.
How long must an employee work to receive full retirement?
  • Currently it is 30 years of creditable service, regardless of age.
How does an employee find out more about retirement benefits, estimating retirement, buying back time, and changing a beneficiary?
  • The Retirement Systems Division's Applications and Forms page contains almost all of the forms that are used by the Retirement System. Scroll down the page until you find the appropriate form. Instructions for the use of the form are usually part of the form.
Who does an employee call within the Town when he/she plans to retire?

The employee benefits information posted on this website is intended to provide details and helpful information regarding benefits available to current employees of the Town of Cary. These benefits are also described in detail in contracts with the Town of Cary and/or in Town policy. The provisions of the contracts and Town policies are controlling and subject to change. None of the conditions or limitations thereof are waived or modified by reason of omission or misstatement on this website.