Press Releases
North Carolina State Treasurer Dale R. Folwell, CPA, and the Retirement Systems Division announced today that the investment return assumption or rate of return (RoR) for the principal North Carolina Retirement Systems (Fund) will be lowered 50 basis points from 7.0% to 6.5% per year. The change will be recognized immediately for financial reporting and calculating the funded percentage level, but for the purpose of determining employer contribution rates, the effect will be phased in over a period of five years.
In an effort to increase the number of COVID-19 vaccines administered in the state, State Treasurer Dale R. Folwell, CPA, and the State Health Plan (SHP) are calling for the North Carolina Department of Health and Human Services (NCDHHS) to provide vaccines and allow primary care physicians, pediatricians and all pharmacies to administer the shots. North Carolina has lagged the nation in administering the allotted vaccines to its population.
Despite economic upheaval, massive job losses, business shutdowns, and uncertainty in the investment market throughout 2020 due to the COVID-19 pandemic, the state pension plan achieved a record $114.9 billion valuation entering 2021.
With an eye toward the magnitude of the state’s combined unfunded pension and retiree health care costs, State Treasurer Dale R. Folwell, CPA, said it is imperative the state’s capacity for future borrowing is accurately calculated to avoid fiscal strain and budget predicaments.
(Raleigh, N.C.) – CaroMont Health Inc. received an important approval this week to move forward with its plan to build and equip a four-story patient hospital care tower in Gastonia.The action was one of 13 items approved by the Local Government Commission (LGC) totaling more than $300 million worth of school, park, municipal building and infrastructure projects spanning 11 counties across the state. Click here for the full agenda.
State Treasurer Dale R. Folwell, CPA, today applauded a court ruling upholding the Trump administration’s executi
State Treasurer Dale R. Folwell, CPA, today asked the owners of the ferry system between Southport, N.C., and Bald Head Island to give the entire system to the Village of Bald Head Island or the Bald Head Island Transportation Authority (BHITA). A proposal to sell the ferry system has been in the works since 2017 when legislation was passed to facilitate the sale. A gift could generate tremendous tax benefits to the family or estate.
State Treasurer Dale R. Folwell, CPA, delivered a check to Brunswick County Manager Randell Woodruff on Friday, Dec. 18, as part of his ongoing focus to return money held by the state to its rightful owners.“At the Department of State Treasurer (DST) we are in the check delivery business,” Treasurer Folwell said. “Today is one more example of how we are aggressively assisting businesses, charitable organizations, individuals and even government agencies reclaim money that is due to them even though they might not be aware of it.”
The show will go on at North Carolina’s officially designated community theater, with a little help from State Treasurer Dale R. Folwell, CPA, and the Department of State Treasurer’s (DST) Unclaimed Property Division (UPD).The Thalian Association Community Theatre, which traces its rich artistic roots back nearly two and a half centuries but has been financially affected this year by the COVID-19 pandemic, was presented with a $3,000 check by Treasurer Folwell on Thursday, Dec. 17.
The Department of State Treasurer (DST) and Carolina Panthers executed a winning handoff to help a Charlotte-based charity brighten the holidays for dozens of women and children in its multi-county service area.