State Treasurer Dale R. Folwell, CPA praised the North Carolina General Assembly and Governor Roy Cooper today after Cooper signed the Unfunded Liability Solvency Reserve Act. The new law sets up an Employee Benefit Trust Fund to address the state's $50 billion in unfunded pension and health care liabilities.
Press Releases
State Treasurer Dale R. Folwell, CPA announced today that fees have been reduced by up to 30 percent for the GoalMaker tool that helps members of the North Carolina defined contribution plan prepare for retirement. GoalMaker allows employees who contribute to supplemental retirement plans to choose investments that best fit their retirement needs. The tool is available to members of the NC 401(k), NC 457 and NC 403(b) supplemental retirement plans
State Treasurer Dale R. Folwell, CPA and the State Health Plan announced today that they have completed negotiations with UnitedHealthcare for 2019 rates to provide Medicare-eligible retirees with Group Medicare Advantage Plans.
State Treasurer Dale R. Folwell, CPA said today the proposed Build NC Bond Act should be put on the ballot for a public vote. The proposed draft, if passed by the North Carolina General Assembly in its current form, would allow the N.C. Department of Transportation to issue special indebtedness bonds of up to $3 billion over ten years for transportation projects.
State Treasurer Dale R. Folwell, CPA and the State Health Plan (Plan) announced today that Blue Cross and Blue Shield of North Carolina (Blue Cross NC) has been directed to cut the Plan's medical provider rates on major contracts being negotiated this year by at least 15 percent. Blue Cross NC is the Plan's Third Party Administrator which processes claims, provides a network of providers, and establishes medical provider rates for the Plan.
State Treasurer Dale R. Folwell, CPA reported that state pension fund returns for the first quarter of 2018 were flat amid volatility in the stock market. The nearly $100 billion fund, known as the North Carolina Retirement Systems, is managed by the N.C. Department of State Treasurer.
North Carolina State Treasurer Dale R. Folwell, CPA, announced today that the investment return assumption for the North Carolina Retirement Systems (the Fund) will be lowered from 7.20 percent to 7.00 percent beginning with the December 31, 2017, valuations.
On Tuesday, April 24 from 4:30 – 5:00 p.m., Treasurer Dale R. Folwell, CPA will appear on Bloomberg TV's “What'd You Miss?", the network's afternoon business and markets news program featuring stories from Businessweek and Bloomberg News.
On Monday, April 23 around 8:00 a.m., State Treasurer Dale R. Folwell, CPA will appear on CNBC's pre-market morning news and talk program “Squawk Box". Treasurer Folwell will join Joe Kernen, Becky Quick, and Andrew Ross Sorkin to discuss public pension investing during volatile market conditions, the challenges of unfunded pension and healthcare liabilities for states and localities as well as his efforts to reign in investment fees paid by the North Carolina pension plan to Wall Street.
A Wake County grand jury has indicted a man for keeping his mother's North Carolina pension payments for 15 years after her death. The N.C. Department of State Treasurer, led by State Treasurer Dale R. Folwell, CPA, worked with law enforcement during the investigation as part of the treasurer's continuing efforts to fight fraud against North Carolina's $100 billion pension plan.