The North Carolina Retirement Systems ("NCRS") produced landmark earnings during the first six months of 2025. This week at Council of State, Treasurer Brad Briner reported the plan yielded $8 billion in investment returns since he took office on Jan. 1. This is approximately $3.5 billion more than our assumed return. The NCRS outperformed the U.S. stock market and was able to significantly cut down the inherited $16 billion deficit.
Treasurer Briner statement on pension earnings:
The Local Governmental Employees’ Retirement System (LGERS) Board of Trustees has voted to set new contribution rates that local government agencies must pay into the N.C. Retirement Systems Division for employee pensions, effective July 1.
That was among a number of actions taken at the quarterly meeting of the LGERS and Teachers’ and State Employees’ Retirement System (TSERS) boards of trustees on Thursday, April 24.
State Treasurer Brad Briner is responding to the budget proposal put forward by Gov. Josh Stein today:
“We are disappointed the Governor is proposing for only the second time in 83 years to not fully fund our state’s retirement system. This proposal sent to lawmakers today would create a $206 million shortfall in the funds for our retirees over the next two years,” said Treasurer Briner.
The Treasurer said he is confident legislative leaders will take the needs of the state’s retirees more seriously.
State Treasurer Brad Briner and the North Carolina Supplemental Retirement Plans Board of Trustees (Board) unanimously approved a 12-month waiver extension of its administrative fee. This action was taken at the regularly scheduled quarterly Board meeting held on Feb. 20 and will save the NC 401(k) Plan and NC 457 Plan (Plans) participants approximately $1.7 million over the next year.
State Treasurer Brad Briner announced today that year-end tax documents for retirees and benefit recipients are now available. The North Carolina Retirement Systems (RSD) has released 382,101 electronic 1099-R and W-2 documents well ahead of schedule.