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N.C. Retirement Plans Put $5.7 Million Back In Retirees' Pockets In January

North Carolina State Treasurer Dale R. Folwell, CPA, announced today that January benefit payments to North Carolina retirees will increase by a total of $5.7 million this month thanks to the Retirement Systems Division (RSD) beating the clock on an IRS deadline. The deadline was the result of the new federal tax reform law, which lowered the amount of federal taxes that should be deducted from 2018 benefit payments to North Carolina retirees and benefit recipients. Employers have until February 15, 2018 to update the federal withholding tables used to calculate how much is withheld from individual payments.

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North Carolina Department of State Treasurer