Retirement Rates and Limits Chart

Disclaimer:  Rates/Limits provided below are based on information received from the following sources and are subject to change:    

Teachers' and State Employees' Retirement System (TSERS), UNC System Office, and the Internal Revenue Service.   

 

Retirement Rates (July 1, 2020)

Teacher and State Employee Retirement System (TSERS)

Employee contribution rate: 6% of eligible earnings

Employer contribution rates below:

Benefit Percentage

Pension Accumulation Fund

(Includes .01% Qualified Excess Benefit)

14.78%

Death Benefit Trust Fund

0.13%

Retiree Health Plan Reserves

6.68%

Disability Income Plan

0.09%

Total Employer Contribution

21.68%

TSERS for Law Enforcement Officers

Employee contribution rate:  6% of eligible earnings

Employer contribution rates below:         

Benefit Percentage

Pension Accumulation Fund

(Includes .01% Qualified Excess Benefit)

12.97%

Death Benefit Trust Fund

0.13%

Retiree Health Plan Reserves

6.68%

Disability Income Plan

0.09%

State 401(k)

5.00%

Total Employer Contribution

26.68%

UNC Optional Retirement Program

Employee contribution rate:  6% of eligible earnings

Employer contribution rates below: 

Benefit Percentage

ORP Employer Contribution

6.84%

(Retiree Health Plan Reserves 6.68% & Disability Income Plan .09%)

6.77%

Total Employer Contribution

13.61%

Retirement Plan Limits 

Social Security  Base Rate:  $137,700 (2020), $142,800 (2021)

   IRS Contribution and Benefit Limit

Plan

2020

2021

Annual Compensation Limit – 401(a) (17) TSERS- hired on or after January 1, 1996 $285,000 $290,000
Annual Compensation Limit – 401(a) (17)
TSERS – hired prior to January 1, 1996 
$425,000
$430,000
Annual Compensation Limit – 401(a) (17)
ORP – hired on or after July 1, 1996
$285,000
$290,000
Annual Compensation Limit – 401(a) (17)
ORP – hired prior to July 1, 1996
$425,000
$430,000
Elective Deferrals – 402(g) (1)
401(k) and 403(b)
$19,500
$19,500
Elective Deferrals – 457(e) (15)
457(b)
$19,500
$19,500
Catch-up Contributions – 401(v)(2)(B)(i)
401(k), 403(b) and 457(b)
$6,500
$6,500
Defined Contribution Limits – 415(c)(1)(A)
Apply separately to ORP and 403(b) plan
$57,000
$58,000