(Raleigh, N.C.) - State Treasurer Dale R. Folwell, CPA, the Department of State Treasurer (DST) and Pierce Insurance, the state’s partner in providing supplemental insurance for retirees, have agreed to lower fees for dental and vision plans amounting to $1.7 million in savings. In addition, there is a no-cost upgrade to the Premier Identity Theft Protection.
Since taking office in 2017, Treasurer Folwell has remained committed to lowering fees and increasing value and this successful negotiation is an example of his continued commitment to this mission.
“Our retirees have served the citizens of North Carolina and earned a lifetime pension benefit from one of the strongest pensions in the United States. But every penny counts, and I will continue to find every opportunity to reduce costs now and in the future for our retired public servants,” said Treasurer Folwell. “This is the fourth year in a row that we have been able to negotiate lower premiums and add value. I encourage retirees to look at the options and take advantage of the plans.”
Supplemental vision and dental insurance are available to state and local governmental employees while they are working, but those benefits do not extend after they retire. DST partners with Pierce Insurance to provide dental, vision and identity theft protection plans.
The announcement is timely with Open Enrollment for Supplemental Insurance starting on Sept. 15, followed by NC State Health Plan Open Enrollment Oct. 15–28.
DST administers the employee retirement systems for more than 950,000 public workers, along with the NC 401(k) and NC 457 Plans. DST manages the pension plans’ investments and 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. For more information about the North Carolina Retirement Systems, visit myNCRetirement.com.