Despite opposition and many unanswered questions, the state is moving forward with a plan to create a new retirement system for employees at UNC Health and ECU Health.

Legislators snuck into the recently passed state budget a requirement for UNC Health and ECU Health to move new employees hired after Jan. 1, 2024, to the retirement system separate from the Teachers and State Employees Retirement System.

Forbes took a deep dive into the dangers of this change for the current system, the State Health Plan, retirees, and taxpayers. It could wind up costing the state billions of dollars.

Current employees have the option to leave the Teachers' and State Employees' Retirement System (TSERS) for the new plan as well. SEANC strongly encourages these employees to stick with TSERS and not make this switch. A defined contribution plan (401k) is a bad deal for employees.

UNC Health and ECU Health employees should pass this email on to coworkers and ask them to click below to stay informed.