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State retirement boards approve measures for financial stability, effective administration
['Jessica Taylor For North State Journal']
The North State Journal
RALEIGH — The Teachers’ and State Employees’ Retirement System and Local Government Employees’ Retirement System boards of trustees last Thursday approved policies to support operations across public pension funds, stabilization policies for firefighters and rescue squad workers and modernization of record-keeping platforms.
“Strong retirement systems require both sound financial policies and effective operations,” said State Treasurer Brad Briner in a press release.
The boards of trustees adopted contribution rate stabilization policies for the Firefighters’ and Rescue Squad Workers’ Pension Fund (FRSWPF) and the N.C. National Guard Pension Fund.
Holly W. Lee was also appointed to the Medical Board that administers the Teachers’ and State Employees’ Retirement System’s Disability Income Plan of North Carolina.
The boards’ structure will be adjusted during their October meeting, which was included in a budget bill passed by the General Assembly and signed by Gov.