Despite economic upheaval, massive job losses, business shutdowns and uncertainty in the investment market throughout 2020 due to the COVID-19 pandemic, the state pension plan achieved a record $114.9 billion valuation entering 2021.
Even after paying out more than $6.5 billion in gross benefits, the pension plan showed a $9.3 billion gain over the Dec. 31, 2019, value of $105.6 billion, the State Treasurerâs Office reported Wednesday, though the 2020 figures could change slightly, depending on official results from the monthly auditing process that should be concluded by the end of this month.
More than 304,000 state and local government retirees receive pension benefits through the North Carolina Retirement Systems pension plan.