North Carolina's pension system for state and local government employees is about to get a fresh examination.
A 13-member commission, appointed by State Treasurer Janet Cowell, will hold its first meeting in January to evaluate what changes need to be made in the system that serves 820,000 North Carolina including teachers, state employees, firefighters, police officers and other public workers, Rob Christensen reports.
Cowell appointed members of the Future of Retirement Study Commission in December. The commission was created in October by the boards of trustees of the Teachers' and State Employees' Retirement System and the Local Governmental Employees' Retirement System. The chairman is Robert Clark, a professor of management and economics at N.C. State University who specializes in aging and labor economics and pension and retirement policies.
Cowell said said the current pension system was designed in 1963 and had not been significantly changed since then. Pension systems across the country have drawn attention during the recession as funding levels have dropped and many private sector employee have been forced to delay retirement.
The first meeting will be held 9 a.m. January 25 in the Dawson Conference Room of the Albermarle Building.
Committee members include Sen. Richard Stevens of Cary; Rep. Deborah Ross of Raleigh; Charles Abernathy, county manager for McDowell County; Mary Bethel, co-director for AARP North Carolina; Randy Byrd, criminal investigations supervisor for the Cary police; Joseph Coletti, a fiscal analyst for the John Locke Foundation; Monda Griggs, a curriculum specialist for high schools; Darleen Johns, a Raleigh business woman; Charles Johnson, vice president of the State Employees Association of North Carolina; Shirley Morrison, human resources officer for Guilford County School; Aaron Noble, human resources director for the City of Burlington and Charles Perusse, state budget director.