CAFR 2017

The City’s contributions for the year ended June 30, 2017 were calculated using a covered payroll (base salary) in the amount of $35,597,864. The City’s total payroll was $161,505,421. Total contributions were $4,636,538, which consisted of $1,779,893 from the City and $2,856,645 from the law enforcement officers. The City’s required contributions and the officer’s voluntary contributions represented 5.0% and 7.5% of the covered payroll amount, respectively. The Supplemental Retirement Income Plan for Law Enforcement Officers is included in the Comprehensive Annual Financial Report (CAFR) for the State of North Carolina. The State’s CAFR includes the pension trust fund financial statements for the Internal Revenue Code Section 401(k) plan that includes the Supplemental Retirement Income Plan for Law Enforcement Officers. That report may be obtained by writing to the Office of the State Controller, 1410 Mail Service Center, Raleigh, North Carolina 27699-1410, or by calling (919) 981-5454.

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