NC Treasurer

Janet Cowell

State Treasurer Janet Cowell is meeting with legislators this short session to push her proposed pension investment reforms.  But the reforms don’t include who runs the pension fund. 

This is what Treasurer Janet Cowell says she’s been hearing in the state senate.

“Because some people say if it’s not broken, don’t fix it.”

Cowell says in the short session, she’s pushing for an independent audit and greater transparency, but talk of moving the $86 billion pension fund from a sole fiduciary investment system to a board-of-trustee model should wait until next year.

Hillside Student Bank
Leoneda Inge

Financial literacy is a growing part of the K-through-12 curriculum across the state.  But Hillside High School in Durham has taken the charge to the next level and opened a functioning bank branch at the school.

Organizers say that students, staff, and families will be able to open accounts, as well as deposit funds to checking and savings accounts right at the Hillside branch.  The program also provides internships and serves as a hands-on learning center for students to gain banking skills.

Janet Cowell

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.

On Tuesday, North Carolina voters will elect a new governor. They'll also make selections for Council of State offices. Isaac-Davy Aronson has this look at the two candidates for State Treasurer.

 Steve Royal thinks North Carolinians should be very worried.

Steve Royal: "We cannot continue promising people this money in the future at the rate we are right now. It simply is not sustainable."

A major push is underway in North Carolina to help grow businesses in the Life Sciences.