FOR IMMEDIATE RELEASE
NC Retirement Ranked Third Strongest Public Pension in U.S.
RALEIGH, NC –Treasurer Janet Cowell announced today that North Carolina Retirement Systems is the third strongest funded state pension system in the country, as reported by Morningstar, a renowned independent global investment research firm.
“I am pleased North Carolina’s pension is ranked among the best funded in the nation,” said Cowell. “I and my investment team work hard every day to keep it that way.”
The report, which ranked North Carolina third, listed the pension fund as 93.9 percent funded. The national median is 68.4 percent funded. “The State’s pension systems are strong,” the Morningstar report noted.
Morningstar analyzes current data for pension plans administered by all 50 states. It focuses on two key areas:
• Funded Ratio—the ability of a pension plan to meet its obligations.
• Unfunded Liability per Capita—the amount each person in the state would need to pay to fully fund an unfunded liability.
See the write up and the full list here
The North Carolina Retirement Systems, the formal name for the pension fund, is now the eleventh largest public pension fund in the country. It provides retirement benefits and savings for more than 875,000 North Carolinians, including teachers, state employees, firefighters, police officers and other public workers. For more information, visit www.nctreasurer.com .