US - State and local North Carolina governments will have to increase their contribution rate into the North Carolina Retirement Systems to 6.71% to make up for an underfunded status, the state treasurer said.
Treasurer Janet Cowell said the funded status of the scheme fell to 99.3% at the end of 2008, down from 104.7% the previous year. She said: "Even if we achieve investment target returns as the e...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
