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2024-2025 Health and Benefits Handbook

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QUESTIONS? For questions on retirement, contact NCLGERS at 1-877-627-3287 You can also contact Human Resources at 919-469-4070 or TotalEmployeeHealth@ carync.gov NC LOCAL GOVERNMENT EMPLOYEE RETIREMENT SYSTEM (NCLGERS) An employee in a benefit eligible position working more than 20 hours per week is a contributing member of the NCLGERS. Members of NCLGERS are eligible for retirement benefits. CONTRIBUTION TO THE ACCOUNT Cary contributes a set percentage, determined by NCLGERS, to the retirement system and the employee is you are required to contribute 6% of your pre-tax wages to the retirement system. After five years of service, you are vested and eligible for a retirement benefit. ELIGIBILITY FOR RETIREMENT BENEFITS In order to receive a full retirement benefit, the vested employee must have left their contributions in the account and meet one of the following: • 30 years of service with NCLGERS at any age • 25 years of service with NCLGERS and be age 60 • 5 years of service with NCLGERS and be age 65 Early retirement is available at age 50 with 20 years of service and age 60 with 5 years of service. There are different criteria for Law Enforcement Officers and Firefighters. PREPARING FOR RETIREMENT An eligible employee is encouraged to: • Attend a pre-retirement seminar through Cary • Attend a pre-retirement workshop by NCLGERS • And meet with Empower or Voya • Employees, at any stage in their career, should read and review the Retirement Toolkit to help them prepare for and walk through the retirement process. When an employee is 6 months out from retiring, it is recommended they have a discussion with Human Resources to discuss their benefits and the retirement process. The NCLGERS website contains: • Information Handbook • FAQs • Ability to calculate benefit estimate ? CARY Benefits Handbook Page 39 Retirement Benefits NEWSFLASH You can file your paperwork for retirement 120 days out from your retirement date. We encourage you to make an appointment with Human Resources

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