State Treasurer Criticizes Governor’s Budget Proposal Over Retirement Funding Shortfall

Pat Brand

389 Country

State Treasurer Brad Briner voiced strong concerns on Wednesday, March 20, 2025, regarding a budget proposal from Governor Josh Stein that he says fails to fully fund North Carolina’s retirement system. According to Briner, this marks only the second time in 83 years that such a funding gap has been proposed.

In a statement, Treasurer Briner expressed disappointment, noting that the proposal delivered to lawmakers would result in a $206 million shortfall for retiree funds over the next two years. “We are disappointed the Governor is proposing for only the second time in 83 years to not fully fund our state’s retirement system,” Briner said.

Despite his criticism of the governor’s plan, Briner remained optimistic about the response from legislative leaders, stating he is confident they will prioritize the needs of the state’s retirees more seriously. No additional details about the budget proposal or the retirement system were provided in the treasurer’s remarks.