All full-time employees of Burke County Schools are eligible for the health insurance provided through the State of North Carolina on a non-contributory basis. Family members may be covered on a contributory basis.
Each full-time employee is provided a $5,000 term life insurance policy. Employees have the option of purchasing up to $50,000 in additional coverage on themselves, and $10,000 on their spouse.
Tax Sheltered Plans
The State sponsors the Plan through the legislation enacted by the General Assembly. The NC State 401-K Plan enhances your employee benefit package by providing you with benefits such as tax deferral, investment flexibility, and access to funds with a loan provision.
403(b) Tax Sheltered Annuities
The Burke County School System approves insurance companies for the purpose of selling fixed and variable annuities. Tax sheltered annuities make possible, through a payroll deduction plan, the deferring of a portion of any employee's income until he or she retires.
457(b) Deferred Compensation Plan
All Burke County Schools personnel who are regular, full-time employees are required by law to become members of the North Carolina Teachers and State Employees System. An employee contributes 6% of his or her salary along with the local school system’s contribution. The 6% employee contribution is tax sheltered. Upon retirement, any employee who has been a member of the retirement system for at least five years is eligible for monthly benefits for life, or for the return of his or her contributions with interest. An employee's contributions (with interest) may also be withdrawn if the employee terminates employment before retirement. A member of the retirement system who has contributed for five or more years is eligible for disability retirement. The retirement system also pays a death benefit to the designated beneficiary of any member who has contributed to the retirement system for at least one year and who dies while still an active member. The death benefit pays a minimum of $25,000 and maintains a maximum of $50,000.
All employees are covered by Social Security. Both employee and employer make appropriate contributions to Social Security. The employee pays 7.65% and the employer pays 7.65%.
State Employees Credit Union
All permanent employees and their families are eligible to join the North Carolina State Employees' Credit Union. Employees may open savings or checking accounts and may borrow money from the Credit Union.
Payments on loans or savings may be made through payroll deduction after contacting the credit union.