(RALEIGH) -- A recent study on public pensions concludes that North Carolina would need to raise taxes on every household by $764 for each of the next 30 years just to fulfill its promises to retired state workers.  Rick Henderson, author of the study by the Carolina Journal, said the plan will be in trouble if changes are not made.

"There needs to be some serious talks in the General Assembly and between public employee groups and lawmakers about what to do to increase the amount of money that public employees provide to these programs, because right now they provide a small percentage of their wages,"said Henderson.  He believes the full retirement age should be increased.

He added that changes made now would be less painful than if lawmakers wait until the issue becomes a crisis.  Henderson said despite the startling conclusion of this study, the Tar Heel State’s public pension system is in better shape than many similar plans in other states.