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Top NC court could hear government retiree health benefit case again
A 13-year legal battle over state government retiree health benefits could be headed back to North Carolina’s highest court.
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Federal Appeals Court upholds NC’s collection of 86K in retiree overpayments
A federal Appeals Court has upheld North Carolina’s decision to recoup more than $86,000 in retirement overpayments to a Beaufort County teacher. The unanimous decision Friday upholds a trial court’s decision in the case.
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Folwell proposes monthly match for state employees in state’s 401k plan
North Carolina State Treasurer Dale Folwell has submitted a framework for draft legislation that introduces a monthly $25 employer match for nearly 350,000 active members in the Teachers’ and State Employees’ Retirement System (TSERS), Consolidated Judicial Retirement System (CJRS), Legislative Retirement System (LRS) and the Optional Retirement Program (ORP).
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Court rules Charlotte-Mecklenburg schools must fund police retirement benefits
The state Court of Appeals has ruled that Charlotte-Mecklenburg Schools must pay into a state retirement fund for officers working for its campus police agency. The decision Tuesday reversed part of a lower court’s ruling against officers who filed suit against CMS in 2019.
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Folwell warns that state’s pension plan could be in jeopardy
A new law allowing University of North Carolina (UNC Health) and East Carolina University (ECU) health systems to create their own retirement plan separate from the state pension plan, in addition to other proposed changes, could possibly lead to its demise.
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Unanimous Appeals Court panel rules against Harnett schools in pension-spiking fight
A unanimous three-judge panel of the NC Court of Appeals has ruled in favor of the state retirement system and against the Harnett County school board in a pension-spiking battle. At stake is a nearly $198,000 bill assessed to the local schools.
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Wilson school board appeals pension-spiking ruling to top NC court
The Wilson County school board hopes North Carolina’s top court will take up its case challenging an application of the state pension-spiking law. An August court ruling could force Wilson schools to pay an additional $400,000 to help fund a former assistant superintendent’s retirement.
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Folwell vows to attack unfunded pension, health liabilities
State Treasurer Dale Folwell wants to be more than North Carolina’s version of the Dutch boy, his finger plugging the dike of underperforming state health and pension plans. Rather, he plans to vigorously attack the massive unfunded liabilities. Folwell, sworn into office Jan. 1 as the first Republican to hold that seat since 1876, said...
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Controversial investigator hints at problems with pension managers
More than two years after releasing a scathing report alleging that a glut of investment fund managers are collecting fees that have plundered North Carolina’s state employee pension plan, financial investigator Edward “Ted” Siedle said upcoming Securities and Exchange Commission action could relate to a whistleblower complaint filed with the federal agency. “I’ve been working...
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New ethics rules for treasurer on IAC agenda
The Investment Advisory Committee that helps state Treasurer Janet Cowell develop the financial management strategy for state funds will meet this week to begin a process of developing ethics guidelines for its members that could include rules regarding insider trading and accepting gifts. Michael Mebane, a member of the North Carolina Teachers and State Employees...
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Market Crash Pinches N.C. Pension for Teachers and State Employees
RALEIGH — North Carolina has been among a handful of states to fund its pension program fully for public school teachers and state workers in recent years, but it will have to pay millions more this year and for years to come because of the recession and the downturn in financial markets.
