The State Employees Association of North Carolina and Benchmark Financial Services announced today the filing of a complaint with the U.S. Securities and Exchange Commission’s Office of the Whistleblower after a forensic investigation found $30 billion (35 percent) unaccounted for in North Carolina’s Teachers’ and State Employees’ Retirement System (TSERS).
In announcing the filing of the complaint, SEANC and Benchmark released a forensic report
detailing a number of potential violations of state and federal law, as well as other concerns regarding the management of the $87 billion pension fund by State Treasurer Janet Cowell.
Board of Governors Meeting
2013-2014 Board of Governors
May 16-17, 2014
SEANC Central Office
The General Assembly succeeded in overriding Gov. Beverly Perdue's veto of the budget today, clearing the way for the first pay raise for state employees and retirees since 2008.
Below is SEANC Executive Director Dana Cope's letter to members on the budget:
Dear SEANC members,
Late last night, the N.C. General Assembly was successful in overriding Gov. Beverly Perdue’s veto of the state budget. This means that active state employees and retirees will receive a pay raise for the first time since 2008.
As you know, SEANC never gives up. We used the override as an opportunity to get an even better deal for employees. So at 3 a.m. today, we gained an additional five days of annual leave for state employees as part of a last-minute budget corrections bill.
The final benefits of the budget for state employees and retirees are as follows:
Even though the governor’s veto put state employees’ pay and public services at risk, SEANC saw an opportunity to continue nonpartisan efforts to encourage legislators to do the right thing.
The veto override wouldn’t have been possible without the heroism of House Reps. Darren Jackson, Marcus Brandon and Marian McLawhorn. These legislators sided with public workers and voted in favor of overriding Gov. Perdue’s veto, even after facing criticism from their own political party. SEANC also thanks House and Senate leadership for working together on passing this budget.
Rep. Darren Jackson spoke in favor of state workers in his remarks to the House floor, saying, “I don’t represent the Democratic Party; I don’t represent the Republican Party. What I represent are my constituents. And being that I live in Wake County, I represent the largest number of state employees and teachers by percentage in the state. [A raise of] 1.2% is a lot to my constituents. I am not willing to leave it (the pay raise) here tonight, and that’s why I am going to vote to override.”
Although this raise is not as much as state employees need, SEANC remains hopeful that this is a starting point for further improvements next year and beyond. We thank you for your momentum in calling and emailing your legislators about this important issue.
SEANC Executive Director