UNC Asheville offers the following retirement programs for permanent, probationary, or time-limited employees working at least 30 hours per week for nine months per year on a continuing basis. SHRA, EHRA Non-Faculty or Faculty may choose either the TSERS retirement plan or the University System's Optional Retirement Plan (ORP). The employee is mandated to contribute 6% of their gross salary to their plan choice.
View the Mandatory Retirement Plan Decision Guide.
Mandatory Retirement Plans
This particular retirement program is a defined benefit plan. Under this type of plan, the benefit received at retirement is based on a formula. This formula considers your years and months of creditable service, your age, and the average of your salary during your 4 highest paid consecutive years.
Optional Retirement Program(ORP)
ORP is offered as an option or alternative to TSERS.
This particular plan is a defined contribution plan where employees control the investment choices, distribution methods and retirement goals.
The choice between TSERS and ORP is a one-time irrevocable decision and must be made within 60 days of employment.
Law Enforcement Officers Retirement Program (LEORS)
This program is mandatory for full-time State law enforcement officers who have full power of arrest. LEORS is a defined benefit plan. Employees hired on or after August 1, 2011 are vested following 10 years of contributions; employees hired before August 1, 2011 are vested following 5 years of contributions.
Under this type of plan, the benefit received at retirement is based on a formula that takes age, years of creditable service and salary into account.
Phased Retirement Program
This is program is for eligible full-time tenured Faculty members to make an orderly transition to retirement through half-time service (or its equivalency) for a predetermined number of years. It is available to members of TSERS or ORP retirement programs. For more information about Phased Retirement Programs, you may visit:
Supplemental Retirement Program
Employees have several supplemental retirement programs available to them through voluntary payroll deductions. These options are not matched by the State but can offer pre-tax savings with a variety of investment options or some post-tax Roth options. You may enroll at any time, your account is 100% vested, and you may change the contribution rate at any time.