Policy on Plan Administration North Carolina Supplemental Retirement Plans

Adopted: August 26, 2021
Last Revised: December 4, 2025

1. The Department and the recordkeeper may provide a participant’s name, mailing address, telephone number, email address, and account information, as well as other information applicable to the administration of the Supplemental Retirement Plans, to each other; to a vendor retained by the administrator or the third-party administrator; upon the request or consent of the participant; or as permitted or required by law. The recordkeeper is Empower as of the date of this policy.
    
2. Forfeited contributions, and investment gains on the forfeited contributions, will be placed in a plan forfeiture account and can only be used to offset future contributions to the plan.
    

3. The Department or the recordkeeper will impose an account restriction in the following situations:

   a.    The receipt of a domestic relations order, draft domestic relations order, or other court order that applies to the account;

   b.    The account contains, or may contain, funds from employer or employee contributions as a result of mistake or negligent or fraudulent act or omission;

   c.    The account contains funds that are subject to forfeiture pursuant to state or federal law, including employer contributions and court costs for convicted law enforcement officers pursuant to N.C.G.S. § 143-166.30(g1) or N.C.G.S. § 143-166.50(e2).

4. An account restriction prohibits a distribution from, or a change of investments in, an account or part of an account.
    
5. The Department or the recordkeeper will remove an account restriction upon one of the following, as applicable:
   
   a.       The administration of a domestic relations order;
   
   b.      In the case of a draft domestic relations order, after 90 days unless the Department or the recordkeeper receives a domestic relations order or other court order that applies to the account;
   
   c.       The receipt of a court order that removes an alternate payee’s right to assets in the account;
   
   d.       The receipt of a court order that requires the removal of the account restriction; or
   
   e.    Following the return of assets to an employer or the transfer of assets to an employer’s forfeiture account.

Revision History and Effective Dates