Permanent full-time employees are covered by a defined benefit plan with the North Carolina Teachers' and State Employees' Retirement System. Employees are required to contribute 6% of their monthly salary through payroll deduction. ABSS also contributes on your behalf to the State Retirement System in an amount that is legislated annually. Your contributions are paid with pre-tax dollars, thereby reducing current state and federal income taxes.
You may retire with full benefits at:
- age sixty-five (65) with at least five (5) years of contributory service;
- age sixty (60) with twenty-five (25) years of service credit; or
- any time after you have thirty (30) years of service credit regardless of age.
You may take early retirement, which means you will receive a reduced monthly retirement payment, either at age fifty (50) with at least twenty (20) years of service credit or age sixty (60) with at least five (5) years of contributory service.
The State Health Plan website provides extensive information to help Alamance-Burlington School System employees, retirees, and those individuals who are thinking of retiring understand how the State Health Plan Benefits work with your Medicare Benefits. It is highly recommended that you thoroughly explore this summary to help you better understand and decide which plan is right for you.
The North Carolina Department of State Treasurer created ORBIT to allow members convenient access to their retirement account information 24 hours a day, seven days a week. This secure site enables you to view your personal information, account information, and other relevant details specific to your retirement system account.
In ORBIT, active employees are able to:
• Retire online
• View contribution history
• View service credit history
• View retirement estimates
• Designate beneficiaries
• View service purchase cost estimates
• View NC 401(k)/NC 457 Plan Transfer Benefit estimates
• View myNCRetirement Statements
Retirees are able to:
• Maintain direct deposit
• Maintain tax withholdings
• View and download 1099-R tax forms
• Generate income verification letters
• Update their contact information
To access ORBIT, go to https://orbit.MyNCRetirement.com and follow the instructions to log in to your personal ORBIT account.
1. Register for ORBIT via the Register button on the login page
2. Follow the prompts for registration
3. Access ORBIT using the User ID and Password that you created