Topics Related to RSD Press Release
State Treasurer Dale R. Folwell, CPA, and the Financial Operations Division (FOD) of the Department of State Treasurer (DST) announced today that North Carolina has received more than $2 billion from the federal government as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act, as passed by Congress and signed by the President, will provide $150 billion for the Coronavirus Relief Fund including direct payments to states, the District of Columbia, U.S. Territories, and eligible units of local government based on population as provided in the CARES Act.
State Treasurer Dale R. Folwell, CPA, today sought to reassure the state’s citizens and business leaders that North Carolina’s government is on strong financial footing and is well-positioned to weather the storm caused by the COVID-19 pandemic. The pandemic has closed schools and businesses across the state, causing severe economic disruption.
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.
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.
Total Retirees and Beneficiaries Now Exceeds 300,000 Members
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.
State Treasurer Dale R. Folwell, CPA, announced that Kevin SigRist, Chief Investment Officer (CIO) for the North Carolina Retirement Systems, submitted his resignation last Friday.
During this morning’s August session of “Ask Me Anything”, State Treasurer Dale R. Folwell, CPA, announced that Jeff Smith and Christopher Morris have been appointed Interim Directors for the North Carolina Department of State Treasurer’s (NCDST) Investment Management Division (Division) which manages the investments for the North Carolina Retirement Systems.
In July 2017, the North Carolina Retirement Systems reported that all divisions met or exceeded metrics goals for the month, surpassing performance from the same period last year.