Disclaimer: Content provided below is based on information received from the following sources and is subject to change: Teachers' and State Employees' Retirement System (TSERS), UNC System Office, and the Internal Revenue Service.
Contribution Limits:
| Age category | 2022 | 2023 |
|---|---|---|
| Under age 50: | $20,500 | $22,500 |
| Over age 50 catch-up: | $6,500 | $7,500 |
The 401k and 403b contributions are coordinated (combined total cannot exceed the maximum).
The 457 contributions are not coordinated with the 401k, nor 403b (total cannot exceed the maximum). As an alternative to the age 50 catch-up, a participant in the 457 plan is eligible to defer up to twice the contribution limit in effect for the three years preceding the employee’s normal retirement age, subject to eligibility. Contact the NC Total Retirement agent for more detail.
Eligibility:
| UNC System 403(b) Plan | UNC System 457(b) Plan | State's 457 Deferred Compensation Plan | State's 401k Plan |
|---|---|---|---|
| Employees who pay FICA | Employees who pay FICA |
Full-time, part-time, or temporary employees Elected or appointed officials Rehired retired employees |
Permanent employees that participate in TSERS or ORP
|
Instructions (Enroll/Change/Cancel):
- UNC System 403(b) (Vendors: Fidelity and TIAA)
- UNC System 457(b) (Vendors: Fidelity and TIAA)
- State’s NC 457 and 401k (Vendor: Empower)
Note: Check with the vendor to ensure your account is established and ready to receive contributions before completing a salary reduction form for new enrollments.
Send completed forms to: UNC Charlotte Benefits Office by fax: 704-687-5254, or mail: 9201 University City Boulevard, Room 207, King Building, Charlotte NC 28223
Processing Timeline:
Eligible employees may enroll, change, or cancel contributions for supplemental retirement plans at any time throughout the year, to be reflected in paychecks according to processing deadlines.
- Deadlines for the Benefits Office to receive hard copy forms, and/or on-line transactions are noted below:
- 1st day of the month to impact the last check of the month (except new enrollments for 457 plans)*
- 15th day of the month to impact the first check of the next month
- Exceptions:
- *Contributions for new 457 plan enrollments cannot start until the month after the election is made
- Contact the Benefits Office if you have special situations
Questions: Benefits@uncc.edu, or (704) 687-8134
Agents:
Fidelity- UNC System 403(b) and 457(b)
Jared McVey, CRPC®
Director, Retirement Planner
(704) 614-4167 | jared.mcvey@fmr.com
Visit Fidelity.com to make an appointment
TIAA - UNC System 403(b) and 457(b)
Peter Kohn
Financial Consultant
704-988-1580 | Peter.kohn@tiaa.org
State's 457(b) and 401k -NC Total Retirement
Rob Sipprell, CRC®
Retirement Counselor – Education Specialist| North Carolina Total Retirement Plans
704-219-9431 | robert.sipprell@ empower.com
Additional Resources:
- Supplemental Retirement Decision Guide
- Do you want a tax break? Now? Later? Both? - Interactive Roth Calculator from Prudential