N.C. STATE PENSION PLAN RATED ONE OF THE TOP FIVE IN THE U.S.
North Carolina Retirement System ranks among the five highest funded pension plans in the nation thanks to our Republican-led legislature with the management of State Treasurer Dale Folwell. This means the state is able to pay all 950,000 of the employee pensions that have been promised now and into the future for teachers, state employees, law enforcement, judicial, legislative and local fire and rescue workers.
Many state pension funds for public employees owe more in benefits than can be covered and will soon be bankrupt. Being fully funded was a promise made in 2014 that Republican N.C. legislators kept.
Upon taking office Treasurer Folwell launched a reform blitz which resulted in $25 million savings. Fees paid to Wall Street investment managers were reduced by more than $60 million for a projected savings of $240 million over 4 years. Treasurer Folwell transformed the N.C. Retirement System such that it now has AAA/Stable rating.
(Submitted by Joanne Thomas)