A LEGISLATIVE EXAMINATION OF THE NORTH CAROLINA TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM: RETROSPECT AND PROSPECT
1 online resource (160 pages) : PDF
University of North Carolina at Charlotte
The North Carolina Teachers' and State Employees' Retirement System (TSERS) experienced a decline in its funded ratio from 112% in 2002 to 94% in 2011 and an increase in its unfunded actuarial accrued liabilities over the same period. The change in these two indicators is trending toward decreased fiscal solvency. The purpose of this research was to identify the potential changes to TSERS by the North Carolina legislature in light of its recent record of fiscal solvency. Using a qualitative case study research methodology, a thematic analysis of eleven interviews was conducted. Legislation and other documents as well as retrospective observations were analyzed.The results revealed five themes: revenue, politics, transportability, knowledge, and commitment that occurred across the four research questions. This study concluded that the legislature is likely to offer the following amendments in the future: the lowering of the 7.25% rate of return assumption, not allowing the spiking of salary, ensuring the entire amount of all annual required contributions are made, offering an optional defined contribution plan option, and a vesting period decrease.
ANNUAL REQUIRED CONTRIBUTIONDEFINED BENEFIT PLANSDEFINED CONTRIBUTION PLANSFUNDED RATIOHYBRID RETIREMENT PLANSNORTH CAROLINA TSERS
Driscoll, LisaBird, JamesAhlgrim-Delzell, LynnAbrams, LyndonWatson, Jim
Thesis (D.Ed.)--University of North Carolina at Charlotte, 2014.
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