In this Did You Know episode, SEANC Executive Director Ardis Watkins delves into the challenges faced by retirees in North Carolina, part of the Teachers and State Employees Retirement System (TSERS), one of the largest in the country. Despite its size and strong asset-to-liability ratios, the retirement benefits lag behind the national average, impacting the financial well-being of those who served the state. We explore the reasons behind the shortfall and why it's crucial for the state to prioritize its retirees, who have dedicated their careers to public service.
Listen to understand the significance of the 19-click difference in the retirement formula compared to the national average and how it's costing retirees up to 10% in monthly benefits. Additionally, learn about the lack of cost-of-living adjustments (COLAs) that further deepen the gap.
Discover how you can advocate for change and support your local legislators in addressing this critical issue to ensure that the people who have long served the community receive the retirement benefits they deserve.
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