RALEIGH – New York-based TIAA-CREF, which has major operations in Charlotte, will administer the state’s 403(b) retirement program for teachers and public school staffs.

The supplemental retirement savings program is specific for school employees. State Treasurer Janet Cowell announced the selection last week. The five-year pact will be formalized in early 2013.

Once finalized, TIAA-CREF and the state’s retirement program outline specific details at 115 districts across the state.