RALEIGH, N.C. (AP) - A North Carolina judge is ordering the state’s pension fund to cover large pension spikes for four retired school superintendents despite a state law that was supposed to force local taxpayers to cover big, late-career pay boosts.
State Treasurer Dale Folwell said Friday the state will appeal this week’s Wake County court ruling.
A 2014 law said local officials would have to pay when high-earning public officials converted perks to salary in the last years of their careers to boost future pension amounts.
Superior Court Judge James Hardin said state pension authorities did not properly develop rules in response to the law.
Hardin ruled state pension authorities could not demand extra payments by school boards in Johnston, Wilkes, Union and Cabarrus counties to cover pension boosts of up to $495,000.
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