North Carolina Pension Calculator
State and local government employees collect taxpayer-guaranteed pension benefits that are far more generous than those available to most private-sector workers. The cost of traditional defined-benefit public pensions is unsustainable and has severe financial consequences that will affect generations of Americans. Use the calculator below, on the left-hand side of the page, to estimate the pension that you would collect after a career as a general government employee and to see how much money you would need to save on your own (your total annuity cost) to replicate that guaranteed income stream in the private sector.
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North Carolina still has one of the most fully-funded state pension systems in the nation. However, as of last year, the pension fund was no longer fully funded and projections suggest a substantial increase in taxpayer appropriations (of $500 million annually) will be needed to get the fund back once again to fully-funded status.
Also of great concern to North Carolina taxpayers is the state's unfunded liability for state retiree health benefits. This liability was most recently estimated at $33 billion, and is growing fast. Without serious legislative action, this burden will consume an ever-growing share of our tax dollars.