NCRS administers pension and other benefits for most public employees in the state. The system is a division of the state treasurer's office and the state treasurer serves as sole trustee of system assets. The Teachers' and State Employees system and the Local Government Employees system account for more than 99% of all active members.
North Carolina Retirement Systems Basics, by Plan
Source: Public Plans Database (as of 2023)
Note: North Carolina Retirement Systems has 6 other plans.
Assets
Assets at Year-End
North Carolina Retirement Systems
2001-2023
| Fiscal Year |
Net Assets (billions) |
| 2001 |
56.8 |
| 2002 |
53.4 |
| 2003 |
55.9 |
| 2004 |
60.9 |
| 2005 |
65.1 |
| 2006 |
68.0 |
| 2007 |
76.1 |
| 2008 |
72.8 |
| 2009 |
60.5 |
| 2010 |
65.4 |
| 2011 |
75.2 |
| 2012 |
74.7 |
| 2013 |
79.5 |
| 2014 |
89.7 |
| 2015 |
89.1 |
| 2016 |
87.1 |
| 2017 |
93.5 |
| 2018 |
97.6 |
| 2019 |
101.4 |
| 2020 |
103.2 |
| 2021 |
120.6 |
| 2022 |
110.1 |
| 2023 |
113.9 |
Membership
Ratio of Actives to Beneficiaries, 2001-2023
| Fiscal Year |
North Carolina Retirement Systems |
US State and Local Pensions |
| 2001 |
3.4 |
2.4 |
| 2002 |
3.4 |
2.3 |
| 2003 |
3.2 |
2.2 |
| 2004 |
3.1 |
2.1 |
| 2005 |
3.0 |
2.1 |
| 2006 |
3.0 |
2.0 |
| 2007 |
2.5 |
2.0 |
| 2008 |
2.5 |
1.9 |
| 2009 |
2.3 |
1.9 |
| 2010 |
2.2 |
1.8 |
| 2011 |
2.1 |
1.7 |
| 2012 |
2.1 |
1.6 |
| 2013 |
1.9 |
1.5 |
| 2014 |
1.9 |
1.4 |
| 2015 |
1.8 |
1.4 |
| 2016 |
1.7 |
1.4 |
| 2017 |
1.7 |
1.4 |
| 2018 |
1.6 |
1.3 |
| 2019 |
1.6 |
1.3 |
| 2020 |
1.5 |
1.3 |
| 2021 |
1.5 |
1.2 |
| 2022 |
1.4 |
1.2 |
| 2023 |
1.4 |
1.2 |
2023 Membership for North Carolina Retirement Systems
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 492,670 |
350,784 |
null |
1,162,901 |
889 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
North Carolina Retirement Systems
2001-2023
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
-891.8 |
56,815.9 |
| 2002 |
-1,097.6 |
53,441.1 |
| 2003 |
-1,457.3 |
55,859.5 |
| 2004 |
-1,654.1 |
60,850.6 |
| 2005 |
-1,659.3 |
65,079.4 |
| 2006 |
-1,777.4 |
68,007.8 |
| 2007 |
-1,851.0 |
76,142.5 |
| 2008 |
-1,897.7 |
72,768.9 |
| 2009 |
-2,039.7 |
60,531.9 |
| 2010 |
-2,235.4 |
65,379.0 |
| 2011 |
-2,164.3 |
75,177.8 |
| 2012 |
-2,067.8 |
74,730.5 |
| 2013 |
-2,206.9 |
79,548.1 |
| 2014 |
-2,369.5 |
89,659.2 |
| 2015 |
-2,512.0 |
89,067.1 |
| 2016 |
-2,707.7 |
87,120.9 |
| 2017 |
-2,721.3 |
93,533.6 |
| 2018 |
-2,705.8 |
97,637.3 |
| 2019 |
-2,535.2 |
101,375.6 |
| 2020 |
-2,435.4 |
103,189.5 |
| 2021 |
-2,177.1 |
120,559.6 |
| 2022 |
-1,949.6 |
110,055.9 |
| 2023 |
-1,883.5 |
113,884.4 |
2023 Cash Flows for North Carolina Retirement Systems (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 5,746.7 |
7,630.1 |
5,711.9 |
3,828.5 |
Cash Flow as a Percentage of Assets
North Carolina Retirement Systems
2001-2023
| Fiscal Year |
North Carolina Retirement Systems |
National Average |
| 2001 |
-1.6 |
-2.1 |
| 2002 |
-2.1 |
-2.0 |
| 2003 |
-2.6 |
-2.5 |
| 2004 |
-2.7 |
-2.0 |
| 2005 |
-2.5 |
-2.2 |
| 2006 |
-2.6 |
-2.2 |
| 2007 |
-2.4 |
-2.1 |
| 2008 |
-2.6 |
-2.3 |
| 2009 |
-3.4 |
-3.1 |
| 2010 |
-3.4 |
-3.2 |
| 2011 |
-2.9 |
-3.1 |
| 2012 |
-2.8 |
-3.3 |
| 2013 |
-2.8 |
-3.1 |
| 2014 |
-2.6 |
-2.9 |
| 2015 |
-2.8 |
-2.8 |
| 2016 |
-3.1 |
-3.0 |
| 2017 |
-2.9 |
-2.9 |
| 2018 |
-2.8 |
-2.6 |
| 2019 |
-2.5 |
-2.6 |
| 2020 |
-2.4 |
-2.4 |
| 2021 |
-1.8 |
-2.1 |
| 2022 |
-1.8 |
-2.1 |
| 2023 |
-1.7 |
-2.1 |
