• North Carolina Teachers’ and State Employees’ Retirement System

    Eligible employees need to choose beneficiaries for two different distributions of money that may be paid should the employee die before retirement. The two distributions are: (1.) the Return of Contributions which is the retirement contributions the employee has made while working and (2.) the Death Benefit which is a one-time payment based on the employee’s salary. In order for beneficiary (ies) to receive this benefit, the employee must have at least one year of contributing service at the time of death and must be either in active service or within 180 days of the effective termination date. The amount of the benefit is equal to the highest consecutive 12 months of salary during the 24 month preceding the death to a minimum of $25,000 and a maximum of $50,000.

    CHOOSING BENEFICIARIES – TYPES OF BENEFICIARIES

    There are two types of beneficiaries: (1.) Principal Beneficiary (ies) is one or more people who would receive all the money upon the death of the employee while inactive service. If only one principal beneficiary is chosen, you must choose a Contingent Beneficiary. If two or more principal beneficiaries are chosen, a contingent beneficiary is not allowed; (2.) Contingent Beneficiary is one or more alternates named if only one principal beneficiary is chosen. The contingent beneficiary (ies) will be paid only if the principal beneficiary is not alive at the death of the employee.

    Beneficiaries are chosen for both the Return of the Contributions and the Death Benefit. The same beneficiaries may be chosen for both distributions.

     

    HOW TO CHOOSE BENEFICIARIES

    YOU MUST WAIT AT LEAST ONE MONTH (IF NOT LONGER) UNTIL AFTER YOUR FIRST PAY CHECK TO CHOOSE BENEFICIARIES.

    You will need to register in the Teachers’ and State Employees’ Retirement System’s (TSERS) online management tool, ORBIT. This online system will allow you to choose or change your beneficiaries, as well as to view your retirement account. All eligible full-time employees must register in ORBIT.

    To register in ORBIT:

    • Go to www.myncretirement.com
    • Click on “ORBIT”
    • Click on Register
    • Enter social security number
    • Enter date of birth
    • Select next
    • Enter zip code
    • Select next
    • Create user ID, create password, confirm password, choose and answer secret question, enter an email address (you must enter an e-mail to receive a confirmation notice)
    • Select next
    • Select done
    • Scroll down to View Account Summary
    • Select View Account Summary
    • Scroll down to Change or Add Beneficiary(ies)
    • Click on Add Return of Contribution Beneficiary(ies)
    • For Principal beneficiary, key requested information (if you want to add more than 1 principal beneficiary you will have to click on the add button for each person you want to add and key requested information).  If you choose two primary beneficiaries or more, you are not allowed to choose contingents.
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    • If you have named 1 principal beneficiary and you want to add contingents, you will have to click on the add button and enter requested information (for each contingent you want to add)
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    • Click on Add Death Beneficiary(ies)
    • For Principal beneficiary, key requested information (if you want to add more than 1 principal beneficiary you will have to click on the add button for each person you want to add and key requested information).  If you choose two primary beneficiaries or more, you are not allowed to choose contingents.
    • Save  
    • If you have named one principal beneficiary and you want to add contingents you will have to click on the add button and enter requested information (for each contingent you want to add)
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    If you have problems registering in ORBIT, please call the Teachers’ and State Employees’ Retirement System (TSERS) at 1-877-627-3287. 

    If you choose to complete the beneficiary designation process by completing a paper form, you should visit https://orbit.myncretirement.com/Orbit and click on the FORMS tab.  From there, download and complete Form 2RC, “Designating Beneficiary(ies) for Retirement System Return of Contributions,” and Form 2DB, “Designation Beneficiary(ies) for the Death Benefit,” and mail them to the Retirement System(address is on the forms).  Shortly after receipt of the form(s), the Retirement System will mail an acknowledgement letter to the member.

    For further reference, consult the: Teachers and State Employees' Retirement System Handbook