20-161F 20-161F . . . Executive Officer One-Year Incentive Plan under which each participant receives a cash award that is determined by a two-step process which considers both the performance of the corporation as a whole during the year and the individual performance of the participant
North Carolina Executive Officer One-Year Incentive Plan
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US-CC-20-161F
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FAQ
For the second time in as many years, the state will pay a one-time supplement to benefit recipients who retired on or before Oct. 1, 2023, and are members of the Teachers' and State Employees' Retirement System (TSERS), Consolidated Judicial Retirement System (CJRS) and the Legislative Retirement System (LRS).
Retention Bonuses: Provides bonuses in FY 2023-24 to all state employees and state-funded local employees regardless of funding source. These funds will be used to provide a $1,500 bonus to employees making less than $75,000 per year and a $1,000 bonus to all state employees making more than $75,000 per year.
Retention Bonus - Public School Personnel To address retention, the bonus will be paid in two installments with half of the bonus paid in November 2023 and half in April 2024.
Permanent, full time employees employed on or before February 1 2024, and have maintained employment through April 5, 2024, will receive a retention bonus of $2,000.
Many organizations use the terms total compensation when they really are referring to total cash compensation. Total cash compensation includes base salary, overtime payments, short term bonuses and incentives, commission payments to sales professionals and long-term bonuses and incentives.
A 4% pay raise in 2023 and a 3% raise in 2024 for most state employees, including non-certified school personnel, community college, and UNC employees. A 4% one-time supplement for retirees in 2023. A 5.5% pay raise in 2023 for employees on a step-pay plan and an additional 3% in 2024.
Permanent, full-time employees who were employed as of June 1, 2023, and returned to work this year and have maintained employment through September 30, 2023, will receive a retention bonus of $2,000, to be paid in the September 2023 payroll.
The North Carolina state budget provides for a base salary increase of 4% for SHRA and EHRA employees in 2023. Information about the implementation of the legislative salary increase is below.