NC Retirement Systems

A picture of an empty wallet.
401(K) 2012 / Creative Commons

Some North Carolina state senators are trying to phase out traditional public employee pensions and government retiree health coverage to prevent the state's shortfall for those financial obligations from worsening.

Senate Republicans revived debate Wednesday over the future of employee retirement benefits by discussing their bill in committee.

Bertie County schools has a deficit of $700,000.
RambergMediaImages / Flickr/Creative Commons

There's a good chance Treasurer Janet Cowell will give up sole control of the state pension fund.

A commission set up to review North Carolina’s Retirement Systems investment program has recommended the state shift how the pension fund is run.

The North Carolina Investment Fiduciary Governance Commission recommends the state move from a sole fiduciary investment system to a model governed by a board of trustees.