How Do I Pull Money Out of a North Carolina State Retirement Account?

Retirement contributions can easily be withdrawn by qualifying North Carolinians.
Retirement contributions can easily be withdrawn by qualifying North Carolinians. (Image: North Carolina state contour against blurred USA flag image by Stasys Eidiejus from

According its Department of State Treasurer, North Carolina state employees contribute six per cent of each paycheck to a retirement fund the state establishes in each of their names. (see Resources) If you're a North Carolina state employee and wish to access your funds before retirement, you may only do so in the event that you terminate employment with the state, voluntarily or otherwise. After enduring a waiting period, you must fill out and submit a form in order to receive a refund of your contributions.

Allow 60 days to pass after your resignation or termination. According to the Department of State Treasurer, North Carolina law requires a waiting period before you can access your funds. Download and print "Form 5" in the meantime. (see the Resources section).

Fill out the form, making sure to decide between having part or all of your contributions "rolled over" into another account or receiving a complete refund. If your employer involuntarily terminated your employment within three months of your refund request, request that a representative from your company fill out "Section G" of the form.

Visit a notary public and have the form notarized. Sign the form yourself in the notary's presence and send it to the address listed at the bottom. You will receive your refund, which will be the contents of your account less 4 percent of any amount exceeding $4,000, in the mail once the department has processed your application and found it to be free of errors.

Tips & Warnings

  • If you're "vetted" in your retirement program--which it to say you've completed five or more years of service--receiving a refund constitutes "forfeiting a monthly retirement benefit available to you once you meet eligibility requirements," according to state law. Keep this in mind as you proceed with the refund process.

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