State Data » North Carolina » North Carolina Retirement Systems » North Carolina Local Government

North Carolina Local Government Basics

  • Established 1941
  • Currently open to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, North Carolina Local Government, 2001-2019

Fiscal Year Net Assets (billions)
2001 11.5
2002 11.0
2003 11.9
2004 13.3
2005 14.4
2006 15.4
2007 17.5
2008 16.9
2009 14.3
2010 15.8
2011 18.5
2012 18.7
2013 20.1
2014 22.9
2015 23.0
2016 22.8
2017 24.7
2018 26.0
2019 27.1

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year North Carolina Local Government US State and Local Pensions
2001 null 2.5
2002 3.8 2.4
2003 3.6 2.3
2004 3.4 2.2
2005 3.3 2.1
2006 3.2 2.1
2007 3.1 2.0
2008 3.0 2.0
2009 2.8 1.9
2010 2.7 1.8
2011 2.5 1.7
2012 2.4 1.6
2013 2.2 1.5
2014 2.2 1.5
2015 2.0 1.5
2016 2.0 1.4
2017 1.9 1.4
2018 1.9 1.3
2019 1.8 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for North Carolina Local Government, 2003-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2003 5.1 0.0 5.7 5.1 5.1
2004 6.0 0.0 7.3 6.0 6.0
2005 5.1 0.0 9.0 5.1 5.1
2006 5.1 0.0 9.3 5.1 5.1
2007 5.1 0.0 10.0 5.1 5.1
2008 4.9 0.0 10.4 4.9 4.9
2009 4.9 0.0 10.2 4.9 4.9
2010 5.1 0.0 10.5 5.1 5.1
2011 5.1 0.0 12.5 5.1 5.1
2012 6.7 0.0 12.9 6.7 6.7
2013 7.5 0.0 13.9 7.2 7.2
2014 7.9 0.0 14.5 7.6 7.6
2015 7.7 0.0 14.9 7.5 7.5
2016 7.5 0.0 14.8 7.1 7.1
2017 8.1 0.0 15.1 7.9 7.9
2018 8.3 0.0 18.1 8.1 8.1
2019 8.6 0.0 18.8 8.2 8.2

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for North Carolina Local Government, 2002-2019

Fiscal Year North Carolina Local Government National Data
2002 99.3 101.1
2003 99.4 94.2
2004 99.3 93.1
2005 99.3 91.1
2006 99.4 90.5
2007 99.5 91.2
2008 99.5 90.2
2009 99.6 83.2
2010 99.5 81.5
2011 99.6 80.4
2012 99.8 78.9
2013 99.8 78.7
2014 99.8 79.0
2015 99.8 78.2
2016 97.1 76.3
2017 95.2 76.4
2018 92.0 76.5
2019 90.0 76.1

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for North Carolina Local Government, 2019

Category Percent
Equities 39.5
Fixed Income 35.1
Private Equity 5.4
Real Estate 8.8
Cash 3.1
Other 0.0
Commodities 0.0
Hedge Fund 8.2
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for North Carolina Local Government, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 56.0 41.3 0.2 1.9 0.0 0.0 0.0 0.0 0.0
2002 51.4 45.5 0.2 3.0 0.0 0.0 0.0 0.0 0.0
2003 51.0 45.2 0.1 2.9 0.0 0.0 0.0 0.7 0.0
2004 57.9 37.8 0.4 3.0 0.0 0.0 0.0 0.9 0.0
2005 58.2 37.5 0.5 2.6 0.0 0.0 0.0 1.2 0.0
2006 56.1 38.0 0.9 3.6 0.0 0.0 0.0 1.3 0.0
2007 57.1 35.5 1.6 4.5 0.0 0.0 0.0 1.3 0.0
2008 50.0 39.5 3.5 5.8 0.0 0.0 0.0 1.3 0.0
2009 47.1 42.1 4.4 5.4 0.0 0.0 0.0 1.1 0.0
2010 47.9 40.1 4.2 4.5 0.0 0.0 0.0 3.4 0.0
2011 45.3 37.8 4.2 5.6 0.0 0.0 0.0 7.1 0.0
2012 43.0 37.0 4.8 7.8 0.0 0.0 0.0 7.5 0.0
2013 46.4 33.8 4.3 8.1 0.0 0.0 0.0 7.3 0.0
2014 46.8 30.4 4.4 8.4 0.9 0.0 0.0 9.0 0.0
2015 44.4 28.4 4.7 8.1 1.2 0.0 0.0 13.3 0.0
2016 42.5 28.2 5.0 9.6 1.0 0.0 0.0 13.7 0.0
2017 37.6 30.0 5.1 8.7 3.9 0.0 0.0 14.7 0.0
2018 40.2 33.9 5.2 8.7 3.5 0.0 0.0 8.4 0.0
2019 39.5 35.1 5.4 8.8 3.1 0.0 0.0 8.2 0.0

Source: Public Plans Database


Annual Return as of June 30 for North Carolina Local Government, 2001-2019

Fiscal Year North Carolina Local Government Assumed return
2001 -2.04 null
2002 -4.04 7.25
2003 7.56 7.25
2004 12.10 7.25
2005 9.85 7.25
2006 7.23 7.25
2007 14.80 7.25
2008 -2.10 7.25
2009 -14.20 7.25
2010 12.00 7.25
2011 18.48 7.25
2012 2.21 7.25
2013 9.50 7.25
2014 15.90 7.25
2015 2.30 7.25
2016 0.80 7.25
2017 10.77 7.20
2018 7.33 7.00
2019 6.53 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
North Carolina Local Government
2001-2019

Fiscal Year Cash Flow Assets
2001 -15.2 11,487.5
2002 -21.7 11,018.3
2003 5.4 11,917.9
2004 -83.7 13,267.1
2005 -121.7 14,444.6
2006 -136.5 15,354.8
2007 -167.9 17,458.3
2008 -179.7 16,936.0
2009 -206.4 14,256.8
2010 -247.9 15,795.4
2011 -212.6 18,496.1
2012 -249.2 18,651.6
2013 -312.9 20,113.0
2014 -350.6 22,927.6
2015 -404.1 23,047.3
2016 -466.1 22,759.7
2017 -473.8 24,703.0
2018 -513.2 25,982.3
2019 -524.7 27,135.9

Source: Public Plans Database


Cash Flow as a Percentage of Assets
North Carolina Local Government
2001-2019

Fiscal Year North Carolina Local Government National Average
2001 -0.1 -2.3
2002 -0.2 -2.3
2003 0.0 -2.6
2004 -0.6 -1.7
2005 -0.8 -1.9
2006 -0.9 -1.9
2007 -1.0 -1.7
2008 -1.1 -1.9
2009 -1.4 -2.7
2010 -1.6 -2.9
2011 -1.1 -2.8
2012 -1.3 -3.1
2013 -1.6 -3.0
2014 -1.5 -2.7
2015 -1.8 -2.8
2016 -2.0 -3.0
2017 -1.9 -2.9
2018 -2.0 -2.4
2019 -1.9 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for North Carolina Local Government benefit descriptions.