As most state employees have been eagerly awaiting budget news from the NC General Assembly for the fiscal year that began on July 1, news finally came at the end of September. A budget has been passed that currently provides state employees a 4 percent salary increase for 2023/2024 and a 3 percent salary increase for 2024/2025.
When your paycheck gets a raise, it’s a great opportunity to also give your retirement plan a raise. As TIAA has shown in the illustration below, saving a little now could make a huge difference down the road. Even a 1 percent increase to your UNC Supplemental Retirement account each year could add thousands to your account over time. For more information, click here.
Interested in saving more for retirement but not sure where to begin? The UNC System offers the opportunity to meet one-on-one with our investment advisory firm, CAPTRUST, to create your Retirement Blueprint. In addition, you can also contact TIAA directly to schedule a meeting with one of their TIAA consultants. See contact information to set up your appointment with CAPTRUST and TIAA.