State Pension/Retirement Health Benefit Fund Solvency

nc-stampSB 650 – State Pension/Retirement Health Benefit Fund Solvency

Primary Sponsors: Sen. Brent Jackson (R – Duplin), Sen. Dan Bishop (R – Mecklenburg)

This bill would establish the Unfunded Liability Solvency Reserve.

The Transfer of funds from the Reserve would need to meet all of the following requirements:

  • The funds should only be used for transfers to the Health Benefit Fund or the Retirement System for the purpose of reducing the unfunded liabilities of those two funds.
  • Transfers from the Reserve to the Health Benefit Fund and the Retirement System shall not supplant employer contributions otherwise designated for Health Benefit Fund or Retirement System.
 
 

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