Tuesday, August 15, 2023

Statement from State Treasurer Dale R. Folwell, CPA, on Court of Appeals Decision in Wilson County Board of Education Pension Spiking Case:

Applauds the Court of Appeals opinion overturning a lower court ruling
Raleigh, NC
Aug 15, 2023

I applaud the Court of Appeals opinion that unanimously overturned a lower court ruling. Prevailing in this case was the result of significant effort by Olga Vysotskaya at the N.C. Department of Justice, our internal legal staff of General Counsel Ben Garner and attorney Tim Melton, and Retirement Systems Division personnel Thomas Causey and Patrick Kinlaw. The law was implemented by the previous treasurer. It is not our job to tell school boards or others what to pay administrators. It is our job to protect and defend others in the plan who are asked to pay for it.