Bribery

Janet Cowell
nctreasurer.com

The State Treasurer's office is putting transparency reforms in place for contractors who manage some investments for the state pension fund.

The pension fund is worth about 83-billion dollars.

Treasurer Janet Cowell says independent reviews of NC Retirement Systems showed that until 2009, some managers hired third-party brokers, or “placement agents” to arrange investments, often without disclosing to the state.