Pension

A picture of a jar of cash marked 'retirement'.
TaxCredits.net, “Retirement” / Flickr

Baby Boomers have less financial security in retirement than their parents did. That's according to a PNC Financial survey.

The company recently surveyed about 1,200 adults across the country and found that half of retirees are worried about running out of money.

Kathy Kraeblen is a senior wealth advisor for PNC in Raleigh. She said previous generation had a combination of a pension, social security and better savings habits, and they didn't live as long. But, Kraeblin said, Boomers can still learn to budget and re-adjust their investments.

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.