Troopers' Private Fund in the Red
Posted August 14, 1999
RALEIGH — A private retirement fund for North Carolina Highway Patrol officers is more than a million dollars in the hole.
Nearly 1200 troopers and former patrol members stand to lose thousands of dollars they had expected to collect after retiring.
The money comes from the Highway Patrol Voluntary Pledge.
Troopers put money in the pot each month.
When they retire, they can get one lump sum generated by the fund.
The problem is that the number of retirees has outgrown the amount of money raised each month.
Troopers will vote this month whether to continue the fund.