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Pension
8:14 am
Wed December 18, 2013

State Treasurer Reforms Pension Investment Policies

North Carolina State Treasurer Janet Cowell is implementing transparency reform policies for contractors who manage investments for the state pension fund.
Credit 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.

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