State Treasurer Dale R. Folwell, CPA, issued the following statement:We want to assure the nearly 950,000 members who are paying into or receiving pension payments from the North Carolina Retirement Systems that the stock market’s recent downturn will have no impact on their pension payments. As of today, the state pension plans are down less than 1%. This is because the plans have been conservatively managed under the Folwell administration and other administrations for the past 50 years.
Press Releases
State Treasurer Dale R. Folwell, CPA, and the State Health Plan (Plan) today announced the award of Third-Party Administration Services to Blue Cross and Blue Shield of North Carolina (Blue Cross NC). The Plan consists of more than 727,000 participants, which is equal to the combined domestic employment of Berkshire Hathaway, J.P. Morgan and Amazon.
My calling for the Governor to replace Secretary Trogdon was never personal. It was, however, about the need for change at the top of an organization that has lost its financial way.Just last week, the Governor’s Department of Transportation (DOT) asked for another $100 million from the Highway Trust Fund (HTF) to overcome February shortages. This is in addition to the over $2 billion in overspending last year including more than $1 billion taken from the HTF.
The Debt Affordability Advisory Committee’s report is an annual, nonpolitical, informational report from a bipartisan committee. It is required by statute to analyze the state’s debt capacity. That capacity is directly related to the state’s creditworthiness. The state is no more or less creditworthy today, than it was the day before the report was issued.
State Treasurer Dale R. Folwell, CPA, and the Local Government Commission (LGC) announced today that starting with the Jan. 7, 2020 meeting, the LGC will provide a call-in number for members of the media to monitor the monthly meetings of the commission. The new service is part of the Department of State Treasurer’s (DST) ongoing transparency initiatives across its divisions.
State Treasurer Dale R. Folwell, CPA, announced today the extension of a fee holiday that increases two-year savings to more than $4 million for members of North Carolina Supplemental Retirement Plans.
State Treasurer Dale R.
State Treasurer Dale R. Folwell, today called for Governor Roy Cooper to replace his N.C. Department of Transportation (NCDOT) secretary. NCDOT has spent nearly $7 billion for fiscal year 2019 against revenues of $5 billion for that year. This overspending resulted in NCDOT, not the governor, going to the North Carolina General Assembly (NCGA) and requesting a bailout costing hundreds of millions of dollars. Being treated differently than every other branch of state government and not held to account requires discipline that the leadership at NCDOT has not demonstrated.
State Treasurer Dale R. Folwell, CPA, through the State and Local Government Finance Division, announced today the issuance of $600 million of voter-approved General Obligation Public Improvement (Connect NC) Bonds. The sale is the third of $2 billion approved in 2016 for universities, community colleges, local parks, infrastructure improvement and other projects. The total amount of interest to be paid over the life of the Bonds is approximately $212 million. The prior issuances of $200 million and $400 million occurred in 2016 & 2018 respectively.
State Treasurer Dale R. Folwell, CPA, the State Health Plan (Plan) and Blue Cross Blue Shield of North Carolina (Blue Cross NC) announced today that the Plan's network for 2020 will consist of Blue Options Network and the new North Carolina State Health Plan Network. Combined, this network will consist of more than 68,000 providers.