(Raleigh, N.C.) – Much needed changes promoting good government at the Department of State Treasurer (DST) were signed into law yesterday by Gov. Roy Cooper. Passed with the bipartisan support by the North Carolina General Assembly, all four pieces of legislation will significantly help DST provide vital services to state and local employees. The four bills are:
- House Bill 160: Retirement Service Purchase Rewrite Part II.
- House Bill 163: Treasury Administrative Changes
- House Bill 278: Sunset ABC Board Participation in LGERS
- Senate Bill 277: Ret. & Treasury Tech. Corrections Act of 2021
“I want to thank Speaker Moore, President Pro Tempore Phil Berger, Gov. Cooper and, of course, the members of the House and Senate for their exemplary work on this much-needed legislation. It will help preserve, strengthen and sustain these important governmental responsibilities,” said Treasurer Dale R. Folwell, CPA. “It shows what we can do together to make good policy. There is no Republican or Democrat money here at the treasurer’s office, it’s all green.”
The North Carolina Department of State Treasurer (DST) administers the employee retirement systems for more than 950,000 public workers, along with their 401(k), 457 and 403(b) plans. DST manages the pension plans’ investments currently totaling $121 billion. It also oversees the State Health Plan, which provides health care coverage to more than 750,000 teachers, state employees, retirees, current and former lawmakers, state university and community college personnel, and their dependents. Fiscal assistance and expertise are provided by the department to local governmental units by aiding them in the sale of local government debt obligations and in maintaining sound budgeting, accounting and reporting procedures. The department also administers the NC Cash unclaimed property database.
For more information, visit www.nctreasurer.com.