State Treasurer Dale R. Folwell, CPA, announced today the lowering of the investment return assumption for the North Carolina Retirement Systems (the Fund) from 7.25% to 7.20% beginning with the December 31, 2016 valuations. The move was approved by the Teachers’ and State Employees’ Retirement System (TSERS) and Local Government Employees’ Retirement System (LGERS) Boards of Directors at their April 20th meeting.
Press Releases
On Tuesday, April 18th, North Carolina State Treasurer Dale R. Folwell, CPA, held an “Ask Me Anything” Session for members of the media to discuss his first 100 days in office. Topics included the progress in reducing fees paid to external pension fund managers by $100 million during his term in office and also benefit changes to the State Health Plan.
State Treasurer Dale R. Folwell, CPA, announced today that a preliminary actuarial review of the state’s unfunded liability related to Other Post-Employment Benefits (OPEB) for the Retiree Health Benefit currently stands at $43 billion as of June 30, 2016 under the new accounting standards to become effective later this year.
Total Retirees and Beneficiaries Now Exceeds 300,000 Members
North Carolina State Treasurer Dale R. Folwell, CPA, held his first “Ask Me Anything” Session for members of the media on Monday, February 27th. As part of his initiative to increase transparency within the Department of State Treasurer, Treasurer Folwell has announced monthly conference calls as an open forum for discussion that is available to reporters across the state.
Fund Increased 6.3 Percent Over 12 Months, Fell 0.1 Percent for Quarter
Debt Affordability Advisory Committee Recommends New Policy to Address Unfunded Liabilities
North Carolina State Treasurer Dale R. Folwell, CPA announced today the launch of the NC ABLE Program (https://savewithable.com/nc/home.html).
State Treasurer Dale R. Folwell, CPA, Chair of the State Health Plan Board, would like to remind and provide clarification to members regarding the Plan’s new Pharmacy Benefit Manager, CVS Caremark, which began servicing members January 1, 2017. Specifically:
Within the first 48 hours of his tenure, North Carolina State Treasurer Dale R. Folwell, CPA has met with more than 400 employees at the North Carolina Department of State Treasurer. Treasurer Folwell was elected in November and is the 28th Treasurer to serve the state.