State treasurer discusses state employees benefits, Connect NC bonds projects

State treasurer discusses state employees benefits, Connect NC bonds projects

WILMINGTON, NC (WECT) - State Treasurer Dale Folwell is able to share some good financial news, and he's hoping the economic upswing will eventually reach even more people.

Folwell was a guest on WECT News Now Monday afternoon and discussed the success of the state employees pension plan and Connect NC bonds funds going to projects in the Wilmington area.

Nearly 10,400 people in and around Wilmington receive $207 million in benefits each year from the state pension plan.

"Almost one out of 10 adult North Carolinians gets a check from the state pension or the state health plan every 30 days," said Folwell, who joined News Now via Skype. "We're making sure people aren't getting money out of the plan that don't deserve it. Recently, a man was indicted for cashing his deceased mother's pension check for the last 10 years. We're going after folks like that."

Several well-known places in the area will get a boost from Connect NC bonds money.

Folwell said the state's triple A bond rating is part of the reason additional funds are available and he called the state's ability to borrow money at a lower rate of interest "one thing everybody across the state agrees on.

"That means more money for classrooms, more money for roads, the ports, the parks and all the other core functions of public safety," Folwell said. "(North Carolina gets) the lowest rates probably in the country because of our triple A bond rating. We're excited about that because that makes this money go further."

Projects at UNCW are getting $66 million of Connect NC bonds money with Cape Fear Community College ($6 million), Fort Fisher ($1 million) and Carolina Beach State Park ($855,000) also being issued funds for various projects.

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