TEACHERS’ AND STATE EMPLOYEES’ RETIREMENT SYSTEM
The University Benefits Office designs these pages to be as current as possible; however, the information contained is subject change at any
time. This information is not intended to – and does not –create any contract: importantly, explanations contained on the Benefits web pages
cannot alter, modify or otherwise change the controlling legal documents or General Statutes in any way, nor can any right accrue by reason
of any inclusion or omission of any statement of these web pages. The University Benefits office provides this information solely as a
convenience to employees. Document revised 10/1/2012.
Q: Can I list my estate as a beneficiary?
A: You may list your estate as your beneficiary, payment will be made to your estate after an administrator or
executor of estate has qualified. If there is no qualification, payment could be made to the Clerk of Court to be
handled according to state law.
Q: Can I name a trustee for a living person as my beneficiary?
A: Yes. If you name a trustee, submit a copy of the trust agreement, with your beneficiary designation form(s),
to the Retirement System.
Q: Are there any other beneficiary rules to consider?
A: You may not name an unborn child, a pet, a church or any institution as your beneficiary; you do not need
permission from the beneficiary(ies) to make or change your designations; if a court order directs you to designate
a specific beneficiary, you must comply with the order; you are not required to notify your beneficiary(ies) of
your designations; and, you are not required to name relatives as beneficiary(ies).
Q: Can I change my beneficiary at any time?
A: Prior to retirement, you may change your beneficiary(ies) as often as you like; however, if an order requires a
specific beneficiary designation, you must comply with the order. If you have less than ten years of retirement
service credit, you may update your beneficiary designations directly through the ORBIT
portal (click on View
Account Summary). If you have more than ten years of retirement service credit, you must submit
signed/notarized beneficiary change forms to the Retirement System. Forms 2RC (Return on Contributions) and
2DB (Death Benefit) can be obtained by signing in to your
ORBIT account (click on the View Account Summary
tab).
As a retiree, you can change your beneficiary for the guaranteed refund at any time by completing and submitting
the required form. "Designating Beneficiary(ies) for the Guaranteed Refund as a Retiree" to the Retirement
System.
Retirees’ Health Plan and Medicare
Q: What happens to my health insurance when I retire?
A: When you retire, your health plan coverage under the NC State University group will cancel and you will have
the option to enroll yourself and eligible dependents in the retirees’ group health plan. Retirees’ group coverage
becomes effective on the first of the month following your retirement effective date. The premium for dependent
coverage is deducted from your monthly retirement payment.
Under current law, if you were first-hired (in a benefits-eligible position) before October 1, 2006, the state will
pay the full cost of your retiree’s health plan premium for the 70/30 PPO plan. If you were first hired on or after
October 1, 2006, you are still eligible to enroll in the retiree’s health plan; however, you must retire with at least
twenty (20) years of creditable service in order to receive State provided coverage. If you retire with at least ten
(10) years of creditable service, the State pays 50% of premium for the retiree. If you retire with less than 10
years, you must pay the full cost of retiree’s health plan coverage. You are responsible for the full cost of
dependent coverage.