The attached letter from David McCoy, State Budget Officer, directs the Office of the State Controller (OSC) to continue receipt of the employer portion of retirement contributions for all State funded retirement systems and to deposit such funds in a special reserve as established by the Office of State Budget, Planning and Management for the month of July, 2001. State funded retirement systems have been defined as the Teachers’ and State Employees’ Retirement System, t he Consolidated Judicial Retirement System and the Legislative Retirement System. Budget code 19931 titled General Fund Reserve – EEO No. 3 Fiscal Year 2002 has been established with the OSC to receive the employer share of the retire ment contributions for the month of July, 2001.

The Retiree Health Benefits and Disability portions of your monthly contribution will continue to be remitted to the Department of the State Treasurer. Below are the rates effective July 1, 2001:
 

Retirement System	% of Subject Wages
Teachers’ and State Employees	1.32%
Consolidated Judicial	13.26%
Legislative Retirement	23.20%

 Continue to follow the procedures outlined in the attached memorandum SAD 01-42, which provided instructions for submission of the funds.

We appreciate your assistance in complying with the directive. For further assistance, contact Amber Young at 919-981-5481 or ayoung@mail.osc.state.nc.us or Denise Driver at 919-981-5496 or ddriver@mail.osc.state.nc.us.

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