North Carolina 401(k) and 457 retirement savings plans
E683033
defined contribution plan
public employee retirement savings program
tax-advantaged retirement savings plan
The North Carolina 401(k) and 457 retirement savings plans are tax-advantaged investment programs that help North Carolina public employees save and invest for retirement through payroll contributions and professionally managed options.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
defined contribution plan
ⓘ
public employee retirement savings program ⓘ tax-advantaged retirement savings plan ⓘ |
| administeredFor | North Carolina public employees ⓘ |
| availableTo |
eligible North Carolina community college employees
ⓘ
eligible North Carolina local government employees ⓘ eligible North Carolina public school employees ⓘ eligible North Carolina state employees ⓘ eligible North Carolina university system employees ⓘ |
| benefitDetermination | account balance based on contributions and investment performance ⓘ |
| benefitType | supplement to North Carolina public pension benefits ⓘ |
| componentPlan |
North Carolina 401(k) Plan
NERFINISHED
ⓘ
North Carolina 457 Plan NERFINISHED ⓘ |
| contributionFrequency | each pay period ⓘ |
| contributionLimitBasis | annual IRS contribution limits ⓘ |
| contributionMethod | payroll deduction ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| eligibilityCriterion | employment with a participating North Carolina public employer ⓘ |
| feature |
employee-directed investment choices
ⓘ
potential Roth after-tax contributions ⓘ pre-tax contributions ⓘ professionally managed investment options ⓘ tax-deferred contributions ⓘ |
| fundingSource | employee contributions ⓘ |
| governedBy |
Internal Revenue Code section 401(k)
NERFINISHED
ⓘ
Internal Revenue Code section 457(b) NERFINISHED ⓘ |
| investmentOptionType |
core index funds
ⓘ
mutual funds ⓘ target date funds ⓘ |
| operatedInJurisdiction | State of North Carolina NERFINISHED ⓘ |
| ownership | individual participant accounts ⓘ |
| planType |
401(k) plan
ⓘ
governmental 457(b) deferred compensation plan ⓘ |
| purpose |
help participants save for retirement
ⓘ
provide supplemental retirement income ⓘ |
| risk | investment risk borne by participant ⓘ |
| sponsorType | state government ⓘ |
| targetParticipant |
career public employees
ⓘ
early-career public employees ⓘ late-career public employees ⓘ |
| taxAdvantage | potential reduction of current taxable income through pre-tax contributions ⓘ |
| taxAdvantage | tax-free qualified withdrawals of Roth contributions and earnings if requirements are met ⓘ |
| taxTreatment | earnings grow tax-deferred until withdrawal for pre-tax contributions ⓘ |
| withdrawalEvent |
certain hardship or unforeseeable emergency situations
ⓘ
retirement ⓘ separation from service ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
State Treasurer of North Carolina
→
oversees
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North Carolina 401(k) and 457 retirement savings plans
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