| NCRGEA Governmental Relations Update
NCRGEA Government Relations Update #20-01
February 7, 2020
Welcome to our new Government Relations Update!
Retirees: pension plan returns were plentiful last year. Returns yielded roughly $10 billion for Teachers’ and State Employees’ Retirement System and an additional $4 billion for the Local Government Employees’ Retirement System. From our view, all retirees can now get both a bonus as well as a recurring, and painfully belated, cost of living adjustment.
But not all share our perspective! North Carolina State Treasurer Dale Folwell recently recommended to the Retirement Systems’ Board of Trustees for neither state nor local retirees to receive an adjustment, citing that the actuarial returns for both systems, a summation his office internally determined, falls below the suggested 7.0 percent threshold for adjustments.
We disagree with his recommendation! We hope you do also. There is no time better than the present for retirees to receive an adjustment.
Will you join us in getting the more than 296,000 retirees your deserved adjustment? Please visit our newly revamped website at https://www.ncrgea.com to sign our online petition and also peruse our new Government Relations section. There you will find in our Advocacy Tool Kit sample letters to send to elected officials and local newspaper editors, advocacy guidelines and more information to empower and inform.
So friends, the bottom line: the state has the money to provide a cost of living adjustment for state and local retirees. Call! Write! Sign! Join in!
Our future depends on us acting now.
Please note: To better serve local government retirees, we will now share information that once was the “legislative update” here as our new Government Relations Update. We want to make sure local government retirees share an equal place in our advocacy, grassroots and communications’ efforts. We will still share ample legislative news when the North Carolina General Assembly is in session.
NCRGEA Executive Director