Pension underperforms its peers by $1 billion
North Carolina’s pension system continues to underperform when compared to its national peers.
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North Carolina’s pension system continues to underperform when compared to its national peers.
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Gov. Pat McCrory signed the budget adjustment bill passed by the General Assembly on Thursday, giving official approval to pay raises and vacation days for state employees and a cost-of-living adjustment for retirees.
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State budget writers announced early this week they finally reached an agreement on a new budget for 2014-15 – nearly a month into the new fiscal year – they are confident the governor will sign.
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State budget writers do not appear to be any closer to an agreement than they were when the week began, despite closed-door meetings between the governor and lead senators and a new offer from the House.
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The budget negotiators in the House and Senate continued to work toward a compromise this week, and while some progress was made and only about $300 million actually separate the two sides, the chambers are far apart on how to bridge that final gap.
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Despite hopeful statements by lawmakers earlier in the session that a new spending plan would be in place by the end of the 2013-14 fiscal year and the session would be wrapped up by the Fourth of July holiday, there appears to still be at least a week to go.
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The General Assembly’s budget conference committee continues to meet, but has yet to come to an agreement about how to pay for priorities such as state employee pay increases and retiree cost-of-living adjustments.
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The SEANC Scholarship Foundation and 52 districts across the state recently announced they are awarding more than $120,000 in scholarships to help more than 100 SEANC members, spouses and dependents attend college this year.
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SEANC continues to fight back attempts to keep secret the deals Treasurer Janet Cowell is making with Wall Street money managers with North Carolina’s $87 billion Teachers’ and State Employees’ Retirement System.
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The North Carolina General Assembly is at a stalemate as Senate and House leaders are at odds over several key provisions in their respective proposals for the 2014-15 budget. Among the issues separating the two chambers are pay raises for state employees and retirees.
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