On Wed. March 12, 2025, NAIFA-NC provided testimony to the NC House Insurance Committee regarding House Bill 79, North Carolina Work and Save (a state-run retirement plan).
In attendance for NAIFA-NC were:
Short Summary of House Insurance Committee Meeting:
House Bill 79, North Carolina Work and Save, was heard for discussion only with no vote in the House Insurance Committee. Paul Johnson of NAIFA-NC spoke to the committee on NAIFA-NC’s behalf to let the committee know that a state-run retirement program that competes with the products already available in the private market is not the best approach and not a good use of scarce state resources. NAIFA offered, if the committee is interested, to work with the bill sponsor, AARP, and other interested parties to design a program to promote the existing options in the private market to employers and employees in North Carolina.