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Tuesday, April 7, 2020

North Carolina reports $3,528,006 in public pension contributions

Government

By Metric Media News Service | Mar 26, 2020

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As of June 2019, North Carolina had received $3,528,006 in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau’s Annual Survey of Public Pensions.

Of that amount, $3,499,640 was in state pension funds, and the remaining $28,366 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

Residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not pay state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

North Carolina reported data from 14 pension systems, including 7 state-level pension funds and 7 local-level systems. The total number of pension system members was 709,537 (706,876 at the state level and 2,661 at the local level).

Contributions to North Carolina's public pension funds
Local
State
Local & State
Employee contributions
$11,659
$1,352,014
$1,363,672
Government contributions
$16,707
$2,147,626
$2,164,333
State government contributions
$355
$1,636,501
$1,636,856
Local government contributions
$16,352
$511,125
$527,477
Total Contributions
$28,366
$3,499,640
$3,528,005
Source: US Census Bureau

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State of North Carolina

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