North Carolina’s Debt Affordability Advisory Committee says the state should set aside $100 million a year to help the state pension systems remain solvent. A draft released Wednesday, Feb. 24, of the committee’s 2021 debt affordability study also calls for North Carolina to maintain its 4% borrowing cap. The committee said more money is needed...
In a move that will make government-employee pensions less risky for taxpayers, N.C. Treasurer Dale Folwell announced Tuesday, Feb. 2, that the assumed rate of return on the main state retirement plan will be lowered. Folwell and the Retirement Systems Division said the assumed rate of return for investments in the North Carolina Retirement Systems...
While an annual report from a financial watchdog shows most U.S. cities are poorly prepared to face the fiscal fallout from the COVID-19 pandemic, the three North Carolina cities examined showed stronger numbers. Chicago-based Truth in Accounting released its annual Financial State of the Cities study on Tuesday, Jan. 26, examining the monetary health of...
RALEIGH — The state has put each taxpayer $14,800 in debt, A report from the Institute for Truth in Accounting says. The financial burden on North Carolinians is worse than that on taxpayers in 34 other states, landing not too far behind California and New York on a scale of indebtedness.
