NC state government retirees to get 4% bonus this week

Retired state employees will get a one-time bonus this week equal to 4% of their annual retirement allowance, according to the state Treasurer's Office, which oversees the North Carolina retirement plan.

Most retired state employees and teachers can expect the payment Wednesday, Treasurer Dale Folwell's office said in a news release.

The bonus is part of the state budget that was enacted this month. Once the bonus is paid, monthly benefit payments will return to their previous levels because the legislature didn't approve a permanent cost-of-living increase for retirees.

People who retired on or before Oct. 1 and are members of the Teachers’ and State Employees’ Retirement System, Consolidated Judicial Retirement System or the Legislative Retirement System will get the bonuses. Members of the Local Governmental Employees’ Retirement System will not get a bonus, though that retirement plan's board of trustees may approve a benefit increase later, Folwell's office said.

This is the second time in as many years the state has provided retirees with a bonus payment, Folwell's office said.