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North Carolina's public employees retirement system is underfunded, bled more than $2 billion in red ink in the most recent 12-month period reported, and is outperformed by most other states, data show
According to the most recent report available, North Carolina's main pension fund for retired state employees is strapped with a $3.7 billion unfunded liability. This growing liability means taxpayers must pony up an increasing amount of funds to cover the costs of promised benefits to retirees...
An organization representing 55,000 state employees has asked the U.S. Securities and Exchange Commission to investigate "widespread potential violations of law" involving State Treasurer Janet Cowell's handling of investments from the $87 billion state retirement system.
North Carolina has been fortunate to have honest and trustworthy State Treasurers. Current Treasurer Janet Cowell is no exception.
Janet Cowell's primary responsibility as State Treasurer is to oversee the pension fund for retired North Carolina teachers and state employees. So why does her campaign receive so many contributions from far-away states like New York, Pennsylvania and California?
Headlines across the nation have been sounding the alarm about state government pensions. Even very conservative estimates place the total amount of unfunded state pension liabilities to be approaching a trillion dollars nationally.
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