Raleigh – The Board of Trustees of the Teachers’ and State Employees’ Retirement System adopted a resolution today praising the General Assembly for fully funding the state’s retirement system in the current budget. The resolution, signed by North Carolina Treasurer and Chair of the Board of Trustees Janet Cowell, expressed “deep appreciation and gratitude to the General Assembly…in securing the advancement of the retirement system.”
“The positive results discussed in this resolution were made possible by focused lawmakers and responsible budgeting in the General Assembly,” said House Speaker Thom Tillis (R-Mecklenburg). “Despite a multi-billion dollar budget deficit, we were able to fully fund that state’s retirement system. And we did it without raising taxes.”
The resolution states that the General Assembly budget fully funded the Annual Required Contribution for Teachers’ and State Employees’ Retirement System, and the budget “helps ensure that North Carolina will continue to have a responsibly-funded retirement system for the 481,678 active employees and retirees.”
“I am proud of the accomplishments of the General Assembly concerning the retirement system,” Tillis said. “I appreciate the recognition given to us by Treasurer Cowell and the Board of Trustees. It is heartening to know that our efforts to protect the retirement security of our teachers and state employees have been noted. We will continue to do everything we can to ensure state government functions efficiently while still meeting the obligations to its employees.”