State Data » North Carolina » North Carolina Retirement Systems » North Carolina Teachers and State Employees

North Carolina Teachers and State Employees Basics

  • Established 1945
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, North Carolina Teachers and State Employees, 2001-2018

Fiscal Year Net Assets (billions)
2001 44.7
2002 41.8
2003 43.3
2004 46.9
2005 49.9
2006 51.9
2007 57.8
2008 55.0
2009 45.4
2010 48.8
2011 55.8
2012 55.2
2013 58.5
2014 65.6
2015 65.0
2016 63.3
2017 67.7
2018 70.4

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year North Carolina Teachers and State Employees US State and Local Pensions
2001 null 2.5
2002 2.6 2.4
2003 2.5 2.3
2004 2.5 2.2
2005 2.4 2.1
2006 2.4 2.1
2007 2.4 2.0
2008 2.3 2.0
2009 2.2 1.9
2010 2.0 1.8
2011 1.9 1.7
2012 1.8 1.6
2013 1.7 1.5
2014 1.7 1.5
2015 1.6 1.5
2016 1.5 1.4
2017 1.5 1.4
2018 1.4 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for North Carolina Teachers and State Employees, 2003-2018

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2003 2.0 0.0 5.7 2.0 2.0
2004 0.0 0.0 7.3 0.0 0.0
2005 0.2 0.0 9.0 0.2 0.2
2006 2.2 0.0 9.3 2.2 2.2
2007 2.3 0.0 10.0 2.3 2.3
2008 2.6 0.0 10.4 2.6 2.6
2009 3.0 0.0 10.2 3.1 3.1
2010 3.6 0.0 10.5 3.6 3.6
2011 3.7 0.0 12.5 3.7 3.7
2012 5.1 1.9 12.9 7.1 7.1
2013 8.8 0.0 13.9 8.4 8.4
2014 9.2 0.0 14.5 9.2 9.2
2015 9.8 0.0 14.9 9.8 9.8
2016 9.7 0.0 14.8 9.2 9.2
2017 10.7 0.0 15.1 10.7 10.7
2018 11.5 0.0 18.1 11.3 11.3

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for North Carolina Teachers and State Employees, 2002-2018

Fiscal Year North Carolina Teachers and State Employees National Data
2002 111.6 101.1
2003 108.4 94.2
2004 108.1 93.1
2005 108.1 91.1
2006 106.5 90.5
2007 106.1 91.2
2008 104.7 90.2
2009 99.3 83.2
2010 95.9 81.5
2011 95.4 80.4
2012 94.0 78.9
2013 94.2 78.7
2014 94.8 79.0
2015 95.6 78.2
2016 92.5 76.3
2017 90.4 76.4
2018 87.8 76.5

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for North Carolina Teachers and State Employees, 2018

Category Percent
Equities null
Fixed Income null
Private Equity null
Real Estate null
Cash null
Other null
Commodities null
Hedge Fund null
Misc. Alternatives null

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.3
Fixed Income 22.2
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.8
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for North Carolina Teachers and State Employees, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 56.0 41.3 0.2 1.9 0.0 0.0 0.0 0.0 0.0
2002 51.4 45.5 0.2 3.0 0.0 0.0 0.0 0.0 0.0
2003 51.0 45.2 0.1 2.9 0.0 0.0 0.0 0.7 0.0
2004 57.9 37.8 0.4 3.0 0.0 0.0 0.0 0.9 0.0
2005 58.2 37.5 0.5 2.6 0.0 0.0 0.0 1.2 0.0
2006 56.1 38.0 0.9 3.6 0.0 0.0 0.0 1.3 0.0
2007 57.1 35.5 1.6 4.5 0.0 0.0 0.0 1.3 0.0
2008 50.0 39.5 3.5 5.8 0.0 0.0 0.0 1.3 0.0
2009 47.1 42.1 4.4 5.4 0.0 0.0 0.0 1.1 0.0
2010 47.9 40.1 4.2 4.5 0.0 0.0 0.0 3.4 0.0
2011 45.3 37.8 4.2 5.6 0.0 0.0 0.0 7.1 0.0
2012 43.0 37.0 4.8 7.8 0.0 0.0 0.0 7.5 0.0
2013 46.4 33.8 4.3 8.1 0.0 0.0 0.0 7.3 0.0
2014 46.8 30.4 4.4 8.4 0.9 0.0 0.0 9.0 0.0
2015 44.4 28.4 4.7 8.1 1.2 0.0 0.0 13.3 0.0
2016 42.5 28.2 5.0 9.6 1.0 0.0 0.0 13.7 0.0
2017 37.6 30.0 5.1 8.7 3.9 0.0 0.0 14.7 0.0
2018 null null null null null null null null null

Source: Public Plans Database


Annual Return as of June 30 for North Carolina Teachers and State Employees, 2001-2018

Fiscal Year North Carolina Teachers and State Employees Assumed return
2001 -2.04 null
2002 -4.04 7.25
2003 7.56 7.25
2004 12.10 7.25
2005 9.85 7.25
2006 7.23 7.25
2007 14.80 7.25
2008 -2.10 7.25
2009 -14.20 7.25
2010 12.00 7.25
2011 18.48 7.25
2012 2.21 7.25
2013 9.50 7.25
2014 15.90 7.25
2015 2.30 7.25
2016 0.80 7.25
2017 10.77 7.20
2018 7.33 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
North Carolina Teachers and State Employees
2001-2018

Fiscal Year Cash Flow Assets
2001 -871.2 44,663.8
2002 -1,065.2 41,791.7
2003 -1,443.0 43,282.6
2004 -1,552.6 46,863.8
2005 -1,514.9 49,867.6
2006 -1,590.7 51,851.3
2007 -1,662.4 57,785.9
2008 -1,696.0 54,972.0
2009 -1,806.5 45,421.8
2010 -1,959.9 48,773.8
2011 -1,921.0 55,760.4
2012 -1,798.5 55,153.6
2013 -1,874.2 58,491.7
2014 -1,997.3 65,615.8
2015 -2,077.8 65,007.0
2016 -2,210.7 63,268.8
2017 -2,220.8 67,705.5
2018 -2,164.3 70,426.7

Source: Public Plans Database


Cash Flow as a Percentage of Assets
North Carolina Teachers and State Employees
2001-2018

Fiscal Year North Carolina Teachers and State Employees National Average
2001 -2.0 -2.3
2002 -2.5 -2.3
2003 -3.3 -2.6
2004 -3.3 -1.7
2005 -3.0 -1.9
2006 -3.1 -1.9
2007 -2.9 -1.7
2008 -3.1 -1.9
2009 -4.0 -2.7
2010 -4.0 -2.9
2011 -3.4 -2.8
2012 -3.3 -3.1
2013 -3.2 -3.0
2014 -3.0 -2.7
2015 -3.2 -2.8
2016 -3.5 -3.0
2017 -3.3 -2.9
2018 -3.1 -2.4

Source: Public Plans Database

National data averages are weighted by plan size.

2017 Financial Reports

Benefits

Website for North Carolina Teachers and State Employees benefit descriptions.