Civitas Review

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    Much More Needed to Address NC's $25.5 Billion Unfunded Retiree Health Benefit Liability

    Posted in Budget & Taxes, Civitas Review By Brian Balfour | Tagged , ,

    At a Joint Legislative Program Evaluation Oversight Committee meeting Monday, legislators discussed ways to address the state's $25 billion unfunded liability for state retiree health care benefits. The primary recommendation at the meeting was to "force all retirees on the State Health Plan to enroll in Medicare Advantage. The federal plan, a basic version of […]

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    Time to Move on State Pension Reform

    Posted in Budget & Taxes By Brian Balfour | Tagged , , ,

    The N&O offers up this editorial highlighting the findings of their recent series examining some eye-popping compensation packages of state government workers. Among the issues examined in the series was the practice of "spiking" – employees gaming their compensation packages to maximize their pension payouts in retirement. Last week The News & Observer revealed this […]

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    State Treasurer Cowell: "Obviously, that means more burden on taxpayers"

    Posted in Budget & Taxes By Brian Balfour | Tagged , , ,

    A couple of months ago, I blogged here about how North Carolina's pension fund is likely in much worse shape than even the current $2.8 billion unfunded liability represents. The reason is because North Carolina, like many state and local government pension funds, uses unrealistically optimistic investment return projections in their actuarial valuation. This year’s […]

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    Who Wants to Be a Millionaire?

    Posted in Budget & Taxes By Brian Balfour | Tagged , ,

    Check out this new feature produced by the folks at the Manhattan Institute. At all of us poor saps in the private sector can calculate the pension you would receive if you were a state employee. For instance, if you worked for 40 years and retired at age 65 with an average annual salary of $90k […]

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    Public Servants?

    Posted in Budget & Taxes By Brian Balfour | Tagged , ,

    Credit to the N&O for publishing this outstanding piece exposing some appalling information about North Carolina's most lucrative state pensioner. In 2005, Charles R. Franklin Jr . filed for retirement after running the Albemarle Mental Health Center for 34 years. The first and only director of the public agency serving northeastern North Carolina – one […]

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