CONSULTANTS

North Carolina hires Buck

North Carolina Retirement Systems, Raleigh, hired Buck Consultants to help assess its risk to pension fraud and waste.

The RFP, issued in April, followed an internal review by the $71.8 billion pension fund that revealed several problems, including overpayments, salary spiking in final years, return-to-work issues, and system errors.

“We want to make sure we have appropriate quality controls in place, and that we can be more proactive in identifying areas for potential fraud, waste and abuse,” state Treasurer Janet Cowell said in a statement. Buck, which is also the pension fund's actuary, won the contract because of its expertise in public sector retirement policy and procedure reviews “and its comprehensive technical approach,” according to the statement.