07.26.2006
Treasurer Moore Announces Benefit Increase
State Treasurer Richard H. Moore has announced a benefits increase
for retirees of the Firemen's and Rescue Squad Workers' Pension
Fund.
Provisions included in the state budget, which passed July 6, 2006,
will provide a $2.00 benefit increase to retirees of the Fund. The
change will increase the monthly benefit from $163.00 to $165.00.
"North Carolina's public safety community offers the priceless gift
of peace of mind to all our citizens," said Moore. "It is my honor
to administer the Firemen's and Rescue Squad Workers' Pension Fund
and to fight for benefit enhancements for these brave men and women
whenever the opportunity arises."
Moore and members of the Pension Fund board of trustees recommended
the $2.00 increase that emerged from the final budget negotiations.
Moore worked with allies of firemen and rescue squad workers to
encourage legislators to grant the raise. The $2.00 increase will be
included in the July 25 benefit payment to retirees.
"We are grateful to the General Assembly for recognizing the
critical importance of benefit increases to retirees," said Moore.
"In the years ahead, we will continue to push for an increase that
ensures retiree benefits are growing along with the cost of living."
Members of the Firemen's and Rescue Squad Workers' Pension Fund are
part of one of the strongest public retirement systems in the
country.
With a growing membership of more than 700,000 and assets of
approximately $69billion, North Carolina's combined retirement
systems comprise the 9th largest public pension plan in the nation.
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