Whereas the Governor of North Carolina has withheld matching funds from the North Carolina Retirement system; and

Whereas the North Carolina Teachers and State Employees Retirement System (TSERS) has been negatively impacted in the financial markets during the last two years; and

Whereas in 2002, the North Carolina Legislature voted to withhold contribution into the retirement system; and

Whereas it is estimated, based on actuarial figures provided by the State Employees Association of North Carolina, that current obligations cannot be met without additional funds; and

Whereas the employees of the State of North Carolina have sacrificed to help the state through difficult economic times, and, as major contributors to the well being of North Carolina, deserve a well-planned and well-funded retirement system; and

Whereas lack of adequate benefits poses a threat to the state’s ability to continue to attract and retain outstanding faculty and staff; and

Whereas lack of adequate funding impedes the state’s ability to improve existing benefits for active employees and cost-of-living increases for retirees; therefore, be it

Resolved that the Faculty Assembly goes on record as requesting that the newly elected North Carolina Legislature and the Governor of North Carolina restore matching funds to the North Carolina Teachers and State Employees Retirement Fund; and be it further

Resolved that this resolution be forwarded in “good faith” to the constituent university faculty, governance groups, the Office of the President, Board of Governors and members of the General Assembly.

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