- Associated Press - Friday, March 14, 2014

RALEIGH, N.C. (AP) - North Carolina educators will have a new way to save for retirement by investing from their paycheck.

State Treasurer Janet Cowell on Friday is unveiling details of a new statewide retirement option for teachers and school personnel that is similar to a 401(k) savings account. The 403(b) program was authorized by the General Assembly in 2012 and approved by a board of trustees for retirement plans last week.

It will now be offered across North Carolina.

Money invested can go into stock, bond or blended funds with low fees because of the volume of money being handled.

Participating school districts can choose to offer the retirement investment program instead of or alongside their current offerings.