This tool allows educators in North Carolina to estimate their potential retirement income based on factors such as years of service, final average compensation, and chosen retirement plan options. The calculation provides projections of monthly benefit amounts under the North Carolina Teachers’ and State Employees’ Retirement System (TSERS). For example, an educator with 30 years of service and a final average salary of $60,000 can use the resource to project their likely monthly pension payment.
Access to an estimate of retirement income facilitates informed financial planning. Benefits include helping educators determine if they are on track to meet their retirement goals, assisting in decisions regarding additional savings or deferred compensation plans, and providing a realistic outlook for post-employment financial stability. Historically, the process of projecting these benefits was complex and often required manual calculations; the availability of an automated tool simplifies this process significantly.
