Pre-Tax Savings
There are three pre-tax savings plans currently being offered. These are
commonly referred to by the IRS code provision numbers governing them: Section
401(k), Section 403(b), and Section 457 plans. When you elect to participate in
any of these plans, you contribute money on a pre-tax basis. This lowers the
amount of taxes you are currently paying while allowing you to save money for
retirement.
College Foundation of North CarolinaNorth Carolina's 529 plan can
help make college more affordable.
Accessible - Just about anyone can open an account.
Affordable - You decide how much you can contribute and how often.
Comprehensive - Choose from a variety of investment options.
Flexible - Use the money to pay expenses at virtually any college
anywhere.
Tax Free - Account earnings are free of federal and North Carolina income
taxes when the money is used to pay for qualified higher education expenses. NC
taxpayers may be eligible for a state income tax deduction for contributions to
NC's 529.
Tax Deduction - See the
Program Description for details on types of withdrawals and tax
implications.Questions? Please call toll-free at 800-600-3453 from 8am-8pm Eastern Time
Monday-Thursday and 8am-5pm Eastern Time on Friday.
Post-Tax Voluntary Benefit
ProgramsYou may also participate in the following post-tax benefit
programs through payroll deduction:
·
Automobile Insurance - is available at discount rates.
Coverage and premiums vary, depending on the number of vehicles and persons
insured, amount of coverage elected, insurance points, and so on. You may enroll
at any time, and premiums are paid through payroll deduction.
·
Homeowners, Renters and Personal Property Insurance - is
available at a cost determined by the amount of coverage elected, type of
construction, fire protection provided and other variables. You may enroll at
any time, and premiums are paid through payroll deduction.
·
Voluntary Post-Tax Group Life Insurance- is available to
you and your eligible dependents. You pay the full cost of any coverage you
elect.
- Long Term Care
Insurance – is available to cover expenses for you or your family
member’s future care including, but not limited to nursing home, home health
care, hospice, respite and an assisted living facility.
- Savings Bonds- Can
be purchased through payroll deduction on an after-tax basis.
·
Pre-Paid Legal- Members have access to professional
legal counsel not only for traditional legal problems, but for everyday events
such as:
·
buying a house or a car
·
creating a will
·
handling a problem with an insurance company
·
dealing with identity theft...