The North Carolina Supplemental Retirement Plans (SRP) Board of Trustees met today and approved a fiscal year 2026-2027 budget.
The bulk of the $3.1 million spending plan falls under staff salaries and legal, audit, investment consulting and other administrative expenses tied to SRP’s management of the 401(k) and NC 457 plans. Those plans have combined assets of about $20 billion in market value, with 326,488 total participants.
Among other items on the agenda, the trustees heard from Callan, an institutional investment consulting firm, that the SRP plans continue to have a “sound investment menu that has served participants well.” As part of Callan’s ongoing evaluation of investment options to ensure the best portfolio diversity, it proposed removing the N.C. Inflation Sensitive Fund. The fund’s structure includes U.S. government bonds and real estate investment, but it had very low utilization among the plans’ participants. The board approved Callan’s recommendation.
The board also received other investment performance and administrative reports from vendors.
The NC 401(k) and NC 457 plans are exclusively available to public servants in the state of North Carolina and are among the largest and lowest-cost public plans in the country. The plans are administered by the North Carolina Department of State Treasurer (DST) and the board. They are offered by more than 1,100 public employers, including state agencies, local governments, school districts and community colleges. Over 550 of these employers offer a contribution to the plans to help promote retirement readiness. For more information about the NC 401(k) and NC 457 plans visit myNCPlans.com.