Podcast

HeadLocke No. 83: Reforms needed to shore up N.C. public pension fund

posted on
Featured Image

HeadLocke No. 83: Reforms needed to shore up N.C. public pension fund

 
 
00:00 / 00:17:19
 
1X
 

North Carolina’s Teachers’ and State Employees’ Retirement System, TSERS, is widely recognized as being among the nation’s healthiest pension plan systems, currently almost 90% funded at a time when the average public pension plan has only three-quarters of the assets on hand today that will be needed to support future retirement promises. Despite applying a number of best practices for running a financially solvent pension system, the system’s funded ratio has nonetheless been dropping over the last 20 years. A system that was overfunded at the turn of the century today has $9.64 billion in unfunded pension liabilities, or pension debt. A new report prepared by researchers from the John Locke Foundation and Reason Foundation documents the current situation and suggests helpful reforms. Reason’s Leonard Gilroy and Jen Sidorova discuss their findings. JLF’s Joseph Coletti explains why now is a good time for policymakers to address the issue.

Donate Today

About John Locke Foundation

We are North Carolina’s Most Trusted and Influential Source of Common Sense. The John Locke Foundation was created in 1990 as an independent, nonprofit think tank that would work “for truth, for freedom, and for the future of North Carolina.” The Foundation is named for John Locke (1632-1704), an English philosopher whose writings inspired Thomas Jefferson and the other Founders.

The John Locke Foundation is a 501(c)(3) research institute and is funded solely from voluntary contributions from individuals, corporations, and charitable foundations.