North Carolina Supplemental Retirement Plans Hit $20 Billion Milestone

Plans see record growth, approve fee holiday for participants

Published on Feb. 26, 2026

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North Carolina's 401(k) and 457 retirement plans have reached a new milestone, surpassing $20 billion in total investment assets for the first time since the plans were created in 1985. The plans, which are overseen by the state's Department of State Treasurer, have seen assets more than double in the past seven years and now serve over 325,000 participants across more than 1,100 public employers.

Why it matters

The growth of North Carolina's supplemental retirement plans highlights the state's commitment to helping public sector employees save for their futures. The plans' low costs and strong investment performance have made them attractive options for teachers, government workers, and other civil servants looking to supplement their pensions. The fee holiday approved by the plans' board will further improve affordability and accessibility for participants.

The details

According to State Treasurer Brad Briner, the plans' assets grew from $17.7 billion at the end of 2024 to $20 billion at the close of 2025. The board also voted to extend a fee holiday that will reduce recordkeeping costs paid by participants by approximately $1.7 million over the next year. Additionally, the board approved changes to streamline the plans' GoalMaker asset allocation tool to improve retirement income prospects for participants.

  • The plans' assets surpassed $20 billion at the close of 2025.
  • The fee holiday and other changes were approved at the plans' quarterly board meeting on February 26, 2026.
  • The fee holiday will take effect on March 1, 2026.

The players

Brad Briner

The State Treasurer of North Carolina, who oversees the Supplemental Retirement Plans.

Jeff Hancock

The director of the North Carolina Supplemental Retirement Plans.

North Carolina Supplemental Retirement Plans

A set of 401(k) and 457 retirement plans exclusively available to public sector employees in North Carolina, with over $20 billion in assets and more than 325,000 participants.

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What they’re saying

“Today marks an important day in Supplemental Retirement Plans history. It's obviously a testament to the hardworking men and women of North Carolina and their commitment to being retirement ready in their savings, but it's also a compliment to the team.”

— Brad Briner, State Treasurer (jocoreport.com)

“It's not enough to get to $20 billion. We have aspirations to go even further, and the way we do that is by making it a better and better plan.”

— Brad Briner, State Treasurer (jocoreport.com)

“The accumulation of reserve funds comes from strong Board oversight and staff's successful fee negotiations with partners and vendors.”

— Jeff Hancock, SRP Director (jocoreport.com)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

North Carolina's public sector retirement plans have demonstrated impressive growth and a commitment to keeping costs low for participants, positioning the state as a national leader in providing affordable and accessible supplemental savings options for government workers.