Great News, The Check Is in the Mail

By State Treasurer Dale R. Folwell, CPA

The budget enacted by the North Carolina General Assembly and signed by Gov. Roy Cooper earlier this year allowed for a one-time supplement to be paid to retirees of the Teachers’ and State Employees’ Retirement System (TSERS), Consolidated Judicial Retirement System (CJRS), and the Legislative Retirement System (LRS). In addition, the General Assembly passed a bill allowing the Local Governmental Employees’ Retirement System (LGERS) Board of Trustees to consider a one-time supplemental payment for LGERS retirees provided there were sufficient funds from investment gains to pay for it.

The one-time supplemental payments will be distributed as a part of the monthly pension payments to eligible TSERS and LGERS retirees and benefit recipients in October. Regular payments will return to the levels they would have been without the supplemental payment in November.

There is often confusion about the way COLAs or one-time supplements are considered. While we are all public servants in the state of North Carolina, there are seven retirement systems with different rules, laws and guidelines.

As it relates to COLAs or one-time supplements, TSERS’, CJRS’ and LRS’ payments are granted by the General Assembly. LGERS supplements are paid for by the local governmental employer. With the passage of Senate Bill 311, I was able to recommend a solution that is fiscally responsible, providing LGERS’ retirees a one-time benefit without increasing rates for the cities and counties across the state.

Our job is to keep the retirement system solvent for this and the next generation of those who teach, protect and serve -and every decision made by me, staff and the Boards of Trustees is made with a member-first mentality.

I encourage you to visit our website,, and view Trending Topics. Here you will find important information about the October one-time supplements and other retirement matters.

Retirement is a big part of what we do at the Department of State Treasurer (DST), but did you know there are several other divisions and programs that work hard for you and others in North Carolina? DST includes the Office of State Treasurer, Retirement Systems Division, Financial Operations Division, Investment Management Division, State and Local Government Finance Division, Unclaimed Property Division (NC Cash), State Health Plan, Supplemental Retirement Plans and the NC ABLE Program. Each of these work together to make a difference for the citizens of North Carolina.

The role of the Treasurer has always had widespread influence and impact in our state. I am fortunate to have been able to accomplish many things, including reducing costs and fees, increasing transparency and making sure that this benefit is available for current and future public service employees. I stand on the shoulders of staff, Boards of Trustees and previous Treasurers who have conservatively managed the pension plan, making it one of the best funded in the world.