How can we make it easier for North Carolinians to save so they can live the life they want in retirement? The answer is simple – the NC Small Business Retirement Program.

Today, a secure retirement is out of reach for thousands of North Carolinians, especially those who work for small businesses.

  • Nearly half of Baby Boomers and Gen Xers will lack the income to meet the basic retirement expenses and health care costs.
  • Over 70% of workers employed by businesses with fewer than 100 employees do not have a retirement savings plan.
  • The typical working-age household has only $3,000 in retirement assets and retirement-age households only have $12,000.
  • The average monthly Social Security benefit in North Carolina is less than $1,300 a month. While Social Security is a critical piece of the puzzle, it is not enough to ensure people can live independently as they age.
  • NC can save up to $448M in Medicaid services in the first 12 years of the program by helping people become financially independent and not reliant on government programs.

Fiscal Benefits of Increasing the Savings Rates of North Carolina’s Aging Population


A Commonsense Solution

The Small Business Retirement Program makes it easier and without liability for small businesses to offer a basic retirement savings option for employees. By giving employees the option to save privately, the NC Small Business Retirement Program gives you the power to control your future.

Why NC Small Business Retirement Program?

  • Financial Freedom: Social Security isn’t enough to depend on. NC Small Business Retiremente plan accounts make it easier for you to save so you can live the life you want.
  • Your Future, Your Choice: Accounts are voluntary. As an employee, it’s up to you to decide if you want to participate or not.
  • You’re in Control: The account follows you if you switch jobs so you can continue to save and take control of your future.
  • Saves Taxpayer Dollars: Giving employees a simple way to save for retirement will mean fewer North Carolinians will need to rely on government safety net services.


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