North Carolina -- State Treasurer News

TREASURER COWELL REPORTS PENSION FUND THIRD QUARTER RETURNS

Tue, 10 Nov 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell reported today that North Carolina's pension fund performance returned 10.44 percent for the quarter ending September 30, 2009. Returns for the year-to-date are 12.26 percent. As of September 30, pension fund assets are valued at $65.8 billion, an increase from the $60.2 billion reported at June 30, 2009.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/1192009_2453_TREASURER COWELL REPORTS PENSION FUND THIRD QUARTER RETURNS.pdf

TREASURER COWELL ANNOUNCES STUDENT DEBT TOUR FINDINGS

Fri, 06 Nov 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced findings from the state-wide Student Debt Tour during the State Board of Education meeting today. After talking to students about their experiences with credit cards and education loans, Cowell made several recommendations for increased education and policy surrounding debt and credit card use.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/1152009_2839_TREASURER COWELL ANNOUNCES STUDENT DEBT TOUR FINDINGS.pdf

TREASURER COWELL ANNOUNCES THE FUTURE OF RETIREMENT STUDY COMMISSION AT NCSU PRE-RETIREMENT PLANNING SYMPOSIUM

Sat, 17 Oct 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today the formation of a Future of Retirement Study Commission at the Pre-Retirement Planning and Workforce Symposium hosted by North Carolina State University. The Commission will be charged with evaluating and making recommendations for the retirement benefits of North Carolina state and local government employees hired in the future.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/10162009_4730_TREASURER COWELL ANNOUNCES THE FUTURE OF RETIREMENT STUDY COMMISSION.pdf

TREASURER COWELL ANNOUNCES RETIREMENT SYSTEM FUNDED STATUS

Fri, 16 Oct 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today the results of the annual actuarial study of the North Carolina Retirement Systems, which reports a funded status of 99.3 percent. The annual actuarial study is based on data from the Teachers' and State Employees' Retirement System (TSERS) collected through December 31, 2008 and, as expected, shows a drop from the previously reported overfunded status of 104.7 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/10152009_520_TREASURER COWELL ANNOUNCES PENSION FUND FUNDING STATUS.pdf

NC STATE FAIR GOERS MAY FIND UNCLAIMED PROPERTY

Sat, 10 Oct 2009 00:00:00 GMT

RALEIGH - North Carolinians attending the State Fair this year will have a chance to collect their share of nearly $600 million that may belong to them. NC Cash, the State Treasurer's unclaimed property program, will have a booth at the fair where citizens can search a database of property to see if they are owed money.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/1092009_2626_NC STATE FAIR GOERS MAY FIND UNCLAIMED PROPERTY.pdf

TREASURER COWELL SAVES NC NEARLY $27 MILLION WITH BOND SALE

Wed, 07 Oct 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell awarded $372 million of General Obligation Refunding Bonds today. The refunding will save the State approximately $26.7 million in debt service costs. Bonds are similar to home mortgages, in that government projects can be refinanced when interest rates are lower. "One of our responsibilities in the State Treasurer's office is to monitor opportunities for refinancing of state debt to ensure the lowest possible cost to taxpayers," said Cowell. The bonds were originally issued in 1999 through 2006 and used to pay for Higher Education, Public School and Transportation projects. The bonds were awarded to J.P. Morgan Securities Inc. who submitted the most favorable of the six bids received. J.P. Morgan offered a true interest cost of 2.264 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/1062009_150_TREASURER COWELL SAVES NC NEARLY $27 MILLION WITH BOND SALE.pdf

TREASURER COWELL ENCOURAGES FUTURE LEADERS AT NCSU

Sat, 03 Oct 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell encouraged North Carolina State University students not to think of leadership as "other people" but to find an issue they are passionate about and a community of people with whom they can work with to solve it. Cowell focused on leadership and public service as the guest speaker at the inaugural session of NC State's "Conversations with State Leaders" series.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/1022009_729_TREASURER COWELL SPEAKS TO NCSU STUDENTS.pdf

TREASURER COWELL ANNOUNCES POLICY REFORMS

Thu, 01 Oct 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today several policy reforms designed to increase transparency and strengthen oversight for the North Carolina Retirement Systems and the Department of State Treasurer. Cowell, who has been in office less than year, has developed new policies that cover post-employment, ethics, travel and placement agents.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/9302009_4017_TREASURER COWELL ANNOUNCES POLICY REFORMS.pdf

TREASURER COWELL ANNOUNCES STUDENT DEBT TOUR

Wed, 19 Aug 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today that she will be visiting several college campuses across North Carolina to educate students on credit card use and debt. Cowell will also learn first-hand about financial issues concerning students including the affordability of attending college.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/8182009_3811_TREASURER COWELL ANNOUNCES STUDENT DEBT TOUR.pdf

TREASURER COWELL SELECTED AS ASPEN INSTITUTE RODEL FELLOW

Sat, 08 Aug 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell has been selected as one of 24 American political leaders to be a part of The Aspen Institute's Rodel fellowship program class of 2009. The program seeks to enhance our democracy by identifying and bringing together the nation's most promising young political leaders to explore the underlying values and principles of western democracy.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/872009_3442_TREASURER COWELL SELECTED AS AN ASPEN INSTITUTE RODEL FELLOW.pdf

TREASURER COWELL REPORTS FISCAL YEAR RETURNS FOR PENSION FUND

Thu, 06 Aug 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced that for the fiscal year ending June 30, 2009 investment performance for the North Carolina pension fund declined 14.2 percent. Pension fund assets dropped $17.7 billion during the year to a low of $54.6 billion in March before rebounding to $60.2 billion by the end of June.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/852009_2925_COWELL REPORTS FISCAL YEAR RETURNS FOR PENSION FUND.pdf

New Law Protects Consumers From Property Finders

Wed, 22 Jul 2009 00:00:00 GMT

RALEIGH -- State Treasurer Janet Cowell announces a major advancement in the regulation of businesses and individuals that charge consumers for retrieving unclaimed property being held by the state. Governor Perdue signed Senate Bill 1021 setting tough standards for property finders (also called property tracers) by limiting fees that they charge for a service provided at no cost by the Department's Unclaimed Property program.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/7212009_5824_New Law protects consumers from Property Finders.pdf

TREASURER COWELL AWARDS GARVEE BONDS ACCELERATING STATE TRANSPORTATION PROJECTS

Wed, 22 Jul 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell awarded $242.5 million in Grant Anticipation Revenue Vehicle Bonds (GARVEE bonds) today. GARVEE bonds are revenue bonds that allow the state to pledge future federal highway funds to pay debt service. The funds will be used to accelerate construction on 49 Department of Transportation projects. The issuance of these bonds will accelerate the completion of road and infrastructure projects by approximately three years. These projects include improvements to some of the state's major highways including I-40 and I-85.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/7212009_490_Treasurer Cowell Awards GARVEE Bonds for Transportation Projects.pdf

TREASURER COWELL ANNOUNCES $13.9 MILLION FOR PROJECTS IN WESTERN NORTH CAROLINA

Tue, 16 Jun 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today that $13.9 million in federal economic recovery has been approved by the Local Government Commission, which she chairs, to be invested in water and waste water projects in Western North Carolina. The North Carolina Department of Environment and Natural Resources administers this funding through its Clean Water State Revolving Fund Program and its Drinking Water State Revolving Fund Loan Program.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/6152009_5229_Cowell Announces Stimulus Money for Western Carolina.pdf

TREASURER COWELL ANNOUNCES $31.9 MILLION FOR PROJECTS IN EASTERN NORTH CAROLINA

Tue, 16 Jun 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today that more than $31.9 million in federal economic recovery has been approved by the Local Government Commission, which she chairs, to be invested in water, wastewater and green projects in Eastern North Carolina. The North Carolina Department of Environment and Natural Resources administers this funding through its Clean Water State Revolving Fund Program and its Drinking Water State Revolving Fund Loan Program.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/6152009_572_Cowell Announces Stimulus Money for Eastern Carolina.pdf

TREASURER COWELL ANNOUNCES $7.9 MILLION FOR PROJECTS IN THE TRIAD

Tue, 16 Jun 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today that $7.9 million in federal economic recovery has been approved by the Local Government Commission, which she chairs, to be invested in water, waste water and green projects in the Triad. The North Carolina Department of Environment and Natural Resources administers this funding through its Clean Water State Revolving Fund Program and its Drinking Water State Revolving Fund Loan Program.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/6152009_33_Cowell Announces Stimulus Money for Triad area.pdf

TREASURER COWELL ANNOUNCES $10.7 MILLION FOR PROJECTS IN THE CHARLOTTE REGION

Tue, 16 Jun 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today that $10.7 million in federal economic recovery has been approved by the Local Government Commission, which she chairs, to be invested in water, waste water and green projects in the Charlotte region. The North Carolina Department of Environment and Natural Resources administers this funding through its Clean Water State Revolving Fund Program and its Drinking Water State Revolving Fund Loan Program.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/6152009_1140_Cowell Announces Stimulus Money for Charlotte area.pdf

TREASURER COWELL ANNOUNCES $18.6 MILLION FOR PROJECTS IN TRIANGLE AND SURROUNDING AREAS

Tue, 16 Jun 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell announced today that $18.6 million in federal economic recovery has been approved by the Local Government Commission, which she chairs, to be invested in water and wastewater projects in the Triangle and surrounding areas. The North Carolina Department of Environment and Natural Resources administers this funding through its Clean Water State Revolving Fund Program and its Drinking Water State Revolving Fund Loan Program.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/6152009_5242_Cowell Announces Stimulus Money for Triangle.pdf

TREASURER COWELL URGES IMPROVEMENTS FOR COLLEGE SAVINGS PLANS

Fri, 08 May 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell urged congress this week to support legislation that will improve the structure of 529 College Savings Plans and boost participation in the plans by low- and moderate-income families. The Savings Enhancement for Education in College Act will assist families saving for college and allow for greater flexibility to manage investments through 529 funds.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/572009_196_Cowell Urges Improvements for College Savings Plans.pdf

Treasurer Cowell Supports Property Finder Regulation

Thu, 30 Apr 2009 00:00:00 GMT

RALEIGH -- State Treasurer Janet Cowell urged the General Assembly today to approve legislation that would regulate businesses and individuals that charge consumers for retrieving unclaimed property being held by the state. The Department of State Treasurer has received many complaints about property finders from citizens, particularly the elderly, who have been charged outrageous fees for retrieving escheated property. The complaints range from high-pressure and deceptive solicitation tactics to exorbitant fees with some finder organizations charging claimants 30 percent or more of the value of the claim.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/4292009_5855_Cowell Supports Property Finder Regulation.pdf

Bank Of America Proxy Statement

Wed, 29 Apr 2009 00:00:00 GMT

The following is a statement from North Carolina State Treasurer General Counsel Jay Chaudhuri on the state's pension fund vote:

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/4282009_334_B of A Statement 2009.pdf

Cowell Reports First Quarter 2009 Pension Fund Results

Wed, 29 Apr 2009 00:00:00 GMT

RALEIGH -- North Carolina's pension fund performance results were negative 6.4 percent for the quarter ending March 2009. Pension fund assets total $55.9 billion. Fund performance was at median for public pension funds for the quarter ending March 2009. Looking at one and three year performance, North Carolina was in the top quartile among funds greater than $1 billion as measured by BNY Mellon's Public Universe.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/4282009_452_COWELL REPORTS FIRST QUARTER 2009 PENSION FUND RESULTS.pdf

State Issues $400 Million Of Limited Obligation Bonds

Sat, 18 Apr 2009 00:00:00 GMT

RALEIGH - The State of North Carolina sold this week $400 million of Capital Improvement Limited Obligation Bonds (the Series 2009A Bonds) to finance various state capital projects. The Series 2009A Bonds will provide funding for higher education, public safety and various other projects. The Bonds were sold through a negotiated underwriting lead-managed by Banc of America Securities. The Bonds were issued at a true interest cost of 4.136 percent. The issuance was oversubscribed by nearly two to one, showing outstanding acceptance from the market. The other managers of the issue were BB&T Capital markets, Loop Capital markets, RBC Capital Markets and Wachovia Securities.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/4172009_2452_State Issues Limited Obligation Bonds.pdf

Treasurer Cowell Advises On Preserving State Bond Rating

Wed, 25 Mar 2009 00:00:00 GMT

RALEIGH -- State Treasurer Janet Cowell today advised legislative budget writers of the critical factors that could affect the state's "triple A" bond rating. North Carolina, like many other states, faces serious financial and budgetary pressure caused by the economic recession and market volatility while juggling increased demand for social services, retiree benefits and infrastructure.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/3242009_350_Cowell Advises on Preserving State Bond Rating.pdf

State Treasurer Janet Cowell Announces Transparency Reforms

Fri, 20 Mar 2009 00:00:00 GMT

State Treasurer Janet Cowell announced today a series of reforms to strengthen public trust and provide greater transparency of the state's investment decisions.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/3192009_5957_Cowell Announces Transparency Reforms.pdf

State Treasurer Janet Cowell Urges Stronger Accountability in Federal Bailout Funds

Wed, 11 Mar 2009 00:00:00 GMT

State Treasurer Janet Cowell urged today North Carolina's Congressional Delegation to adopt

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/03102009_001_AccountabilityForBailout.pdf

Treasurer Cowell Advises State Leaders to Plan for Significant Increased Contributions to the Public Pension Plan

Fri, 20 Feb 2009 00:00:00 GMT

RALEIGH -- State Treasurer Janet Cowell advised today state and local government leaders to prepare for increased contributions starting in July 2009 to the public pension fund.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/02192009_001_ContributionsToPensionFund.pdf

Cowell Releases 2009 Study of the State's Debt Capacity

Sat, 31 Jan 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell released today the 2009 Debt Affordability Study to Gov. Perdue and members of the General Assembly. The annual analysis found that the state can authorize $50.2 million in new general fund-supported debt for each of the next five years and remain within the 4 percent debt service to tax revenues target ratio. However, the combined debt capacity of the Highway Fund and the Highway Trust Fund has been exhausted through Fiscal Year 2011-2012 and recovers only modestly thereafter over the 10-year model horizon.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/013022009_001_Cowell Releases 2009 Debt Affordability Study.pdf

Cowell Supports Voter-Owned Elections

Fri, 30 Jan 2009 00:00:00 GMT

RALEIGH - State Treasurer Janet Cowell urged the General Assembly today to approve legislation that would add the Office of the State Treasurer to the list of publicly-financed campaigns. State Sen. Doug Berger, D-Franklin, and Rep. Dan Blue, D-Wake, introduced bills today in their respective chambers including the Treasurer in the list of Council of State offices subject to the Voter-Owned Elections Act. Rep. Rick Glazier, D-Cumberland, submitted a parallel bill that would allow all Council of State races to be publicly financed.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/01292009_1046_Cowell Supports Voter-Owned Elections Act.pdf

Cowell Announces 20 Percent Drop in Pension Fund Value

Sat, 24 Jan 2009 00:00:00 GMT

State Treasurer Janet Cowell announced today a 19.7 percent decline in the investment return of the state pension fund. The market value of the fund now stands at $60 billion, down from $77 billion reported on December 31, 2007. While the loss is significant, retiree benefits are not at risk. "North Carolina has a defined benefit system," Cowell said. "That means that every person who is entitled to retirement benefits will receive them. It is their money and it will not be taken away."

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/1234567_123_Cowell Announces 20 Percent Drop in Pension Fund Value.pdf

Annual Study Shows Pension Fund Remains Strong

Fri, 17 Oct 2008 00:00:00 GMT

Retirement System Funded at 104.7 Percent According to Annual Valuation RALEIGH - State Treasurer Richard Moore released the annual actuarial study of the North Carolina pension fund, which demonstrates that the fund remains one of the strongest in the nation with a funding level of 104.7 percent. North Carolina's fund is one of the very few in the nation with a funding ratio, or assets divided by liabilities, greater than 100 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/10162008_3746_Retirement Valuation.pdf

North Carolina Extends Contract with Prudential Retirement, New Deal Will Save Plan Members Millions

Thu, 28 Aug 2008 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that the State has chosen to renew its contract with Prudential Retirement for third party administration of the NC 401(k) Plan and to award Prudential the contract for third party administration of the NC Deferred Compensation Plan. The changes in record-keeping contracts and investment options will save plan members tens of millions of dollars per year.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/8272008_595_Prudential.pdf

State of North Carolina Issues First Limited Obligation Bonds

Thu, 14 Aug 2008 00:00:00 GMT

RALEIGH - The State of North Carolina today made its first sale of $200 million of State Capital Improvement Limited Obligation Bonds (the Series 2008A Bonds) to finance various state capital projects. The Bonds will provide funding for higher education, public safety and various other projects. The Bonds were sold competitively and awarded to Wachovia Bank, National Association who submitted the most favorable of nine bids. Wachovia offered a true interest cost of 4.322 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/8132008_2243_LimitedObligationBonds.pdf

N.C. Pension Fund Ranked 2nd in Nation by S&P

Fri, 22 Feb 2008 00:00:00 GMT

RALEIGH - North Carolina's pension fund is the second strongest in the nation for the third year in a row, according to a new report issued by Standard & Poor's, the national credit-rating agency. The fund, managed by State Treasurer Richard Moore, is one of only five state pension funds in the nation with all the money on hand to meet its obligations. North Carolina's pension fund has a funding ratio of 106.1 percent, compared to a national average of 81 percent. Since 2000, the national average has dropped from just over 100 percent, while North Carolina has retained its strong funding status.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/2212008_2645_SandP.pdf

New York Times Reports Strength Of N.C. Pension Fund

Fri, 21 Dec 2007 00:00:00 GMT

RALEIGH - A new report, covered in yesterday's New York Times, demonstrates the continued strength of North Carolina's pension fund managed by State Treasurer Richard Moore, praising the state for diligently pre-paying its retiree benefits. The report, prepared by the Pew Center on the States, shows that North Carolina is one of only five states with a fully-funded pension plan, meaning that the resources are there to meet the needs of current and future retirees.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/12202007_2841_PewStudy.pdf

N.C. Retirement Plans Receive National Awards

Thu, 25 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that North Carolina's two supplemental retirement plans - the NC 401(k) Plan and the NC Deferred Compensation Plan - received national awards recognizing their outstanding education efforts and communications. Both plans, which are managed by Moore and the Department of State Treasurer, received Leadership Recognition Awards for "Effective Communications" from the National Association of Government Defined Contribution Administrators (NAGDCA).

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/10242007_3147_401kAward.pdf

New Report Shows N.C. Pension Fund Remains Strong

Fri, 19 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that North Carolina's pension fund remains one of the strongest in the nation, with a funding level of 106.1 percent. North Carolina's fund is one of the very few in the nation with a funding ratio, or assets divided by liabilities, greater than 100 percent. The new funding ratio was provided by the annual actuarial study of the Teachers' and State Employees' Retirement System (TSERS). TSERS provides retirement benefits for more than 500,000 working and retired teachers, state law enforcement officers and state employees.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/10182007_322_RetirementValuation.pdf

State Fair Attendees Can Find Money At NC Cash Booth

Thu, 11 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore encourages North Carolinians visiting the 2007 State Fair to visit the NC Cash booth and search for some cash of their own. With one million properties in the NC Cash unclaimed property database and eight million North Carolinians, there is a one in eight chance that a North Carolina citizen has a claim.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/10102007_3251_StateFair.pdf

Treasurer Moore Awards $75 Million in Certificates of Participation

Thu, 04 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded approximately $75 million NC Infrastructure Finance Corporation Certificates of Participation (COPs) for repair and renovation projects today. The certificates were sold competitively and awarded to Citigroup Global Markets Inc., who submitted the most favorable of 10 bids. Citigroup offered a true interest cost of 4.318 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/1032007_3334_COPSOctoberSale.pdf

Moore Awards State's First GARVEE Bonds

Thu, 27 Sep 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded $287,565,000 in Grant Anticipation Revenue Vehicle Bonds (GARVEE bonds) today in the state's first sale of these transportation funding bonds. GARVEE bonds are revenue bonds that allow the state to pledge future federal highway funds to pay debt service on the bonds. The proceeds will be used to accelerate construction on 39 Department of Transportation projects.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/9262007_3530_GARVEEs.pdf

Treasurer Moore Awards $200 Million In Certificates of Participation

Tue, 18 Sep 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded $200 million in Certificates of Participation (COPs) for capital improvement projects on September 13th through the competitive sale process. The COPs were awarded to Merrill Lynch & Co., who submitted the most favorable of the six bids received with a true interest cost of 4.412 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/9172007_3623_SeptemberCOPsSale.pdf

NC Students Score Under 50 Percent On Financial Literacy Test

Fri, 11 May 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that North Carolina students scored an average of 47.7 percent - less than half the questions answered correctly - on a statewide test of financial knowledge and skills. Moore released the students' scores and complete results from $kill $et, the statewide financial literacy survey to measure North Carolina students' knowledge of saving, credit, debt and other financial issues.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/5102007_4320_FinancialLiteracySurveyResults.pdf

S&P Ranks N.C. Pension Fund Second In Nation

Thu, 01 Mar 2007 00:00:00 GMT

RALEIGH - North Carolina's pension fund is the second strongest in the nation, according to a report issued today by Standard & Poor's and covered in The Wall Street Journal. The fund, managed by State Treasurer Richard Moore, is one of only five in the nation with a positive funding ratio - the necessary resources to cover promised benefits. North Carolina's pension fund has a funding ratio of 106.5 percent, compared to a national average of 81.8 percent. Since 2000, the national average has dropped from just over 100 percent to around 82 percent, while North Carolina has retained its strong funding status.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/2282007_4517_WSJ.pdf

State Treasurer Richard Moore Awards $500 Million in Bonds

Wed, 14 Feb 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded $502,745,000 State of North Carolina General Obligation Bonds for university, community college and clean water purposes today. The bonds were awarded to Citigroup Global Markets Inc. who submitted the most favorable of the nine bids received. Citigroup offered a true interest cost of 4.0824 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/2132007_4536_Februarybondsale.pdf

New Report Shows North Carolina's Retirement System One of the Strongest in the Nation

Fri, 20 Oct 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that North Carolina's retirement system remains one of the strongest in the nation and one of only a handful of plans more than 100 percent funded. The annual financial evaluation of the Teachers' and State Employees' Retirement System (TSERS) places its funding ratio, or its assets divided by its liabilities, at 106.5 percent. TSERS provides retirement benefits for North Carolina's 500,000 working and retired teachers, state law enforcement officers and state employees.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/10192006_5118_RetirementEvaluation.pdf

N.C. Pension Fund Tops List in Governing Magazine

Wed, 18 Oct 2006 00:00:00 GMT

RALEIGH - In the October issue of Governing, the North Carolina Teachers and State Employees Retirement System (TSERS) ranks at the top of the list of state pension funds who are "ready for retirees." The system's 108% funding level put it at the top of Governing's list and makes it one of the strongest state retirement plans in the nation.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/10172006_5130_Governing.pdf

State Treasurer Richard Moore Awards $200 Million in the State's Second Competitive Sale of Certificates of Participation

Fri, 29 Sep 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded approximately $200 million NC Infrastructure Finance Corporation Certificates of Participation (COPs), Series 2006A, for capital improvement projects yesterday in the State's second sale of COPs conducted through the competitive sale process. The COPs were awarded to Banc of America Securities, LLC, who submitted the most favorable of the nine bids received. Banc of America offered a true interest cost of 4.168%.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/9282006_5149_COPSSeptemberSale.pdf

Representatives from Department of State Treasurer to Attend Mountain State Fair

Sat, 02 Sep 2006 00:00:00 GMT

FLETCHER, NC - Retirement counselors from the North Carolina Department of State Treasurer will attend the N.C. Mountain State Fair to answer retirement questions for working and retired public employees. The counselors also will assist citizens in searching for unclaimed property in the Department's NC Cash database. The representatives will be attending the fair in Fletcher September 8- 10 and 15-17.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/912006_5339_MountainStateFair.pdf

LGC Approves First Local School Construction Plan Using Lottery Funds

Wed, 02 Aug 2006 00:00:00 GMT

RALEIGH -- The Local Government Commission (LGC) today approved the first local school construction project that includes North Carolina Education Lottery revenue as a funding source. Randolph County presented the Commission with a plan to issue $42 million of Certificates of Participation (COPs) in order to build a new high school, acquire new property for a future project and renovate an existing elementary school. In their plan, Randolph County projected that approximately 30 percent of the funds needed to service this new school construction debt would come from anticipated local disbursements of North Carolina Education Lottery revenues with the balance of revenues needed for debt service coming from other local revenues.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/812006_548_RandolphSchoolConstruction.pdf

Fitch Upgrades Rating of State's COPs, Special Indebtedness

Sat, 22 Jul 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that Fitch has upgraded the rating on North Carolina's Certificates of Participation (COPs) and other special indebtedness from an AA to an AA+. Fitch said the upgrade reflects the State of North Carolina's centralized oversight of appropriations debt, including COPs, and the strength of the installment/lease agreements.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/7212006_5441_FitchCOPSUpgrade.pdf

North Carolina Becomes First in Nation to Offer Roth 401K to Public Employees

Wed, 21 Jun 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today a new Roth 401(k) option for North Carolina public employees, making the state the first in the nation to offer a Roth option. Available through the NC 401(k) Plan, the new feature combines the characteristics of a traditional retirement savings program with those of a Roth IRA. Teachers, law enforcement officers, firefighters and state and local government employees enrolled in the NC 401(k) Plan can now use the Roth feature to make voluntary after-tax contributions that can be withdrawn at retirement completely tax-free.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/6202006_5545_RothRelease.pdf

April Proclaimed Financial Literacy for Youth Month

Tue, 28 Mar 2006 00:00:00 GMT

Raleigh, N.C. (March 27, 2006) -- State Treasurer Richard Moore, chair of the NC Jump$tart Coalition, announced today that April 2006 has been proclaimed Financial Literacy for Youth Month by Governor Mike F. Easley.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/3272006_014_FinancialLiteracyMonth.pdf

Vance Holloman Named Deputy Treasurer for State and Local Government

Fri, 24 Feb 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that Vance Holloman has been named Deputy Treasurer and Director of the State and Local Government Finance Division. Holloman has served in the Department for 18 years, most recently as director of the Fiscal Management Section of the State and Local Government Finance Division.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/2232006_13_HollomanRelease.pdf

2006 Debt Affordability Study Released

Fri, 17 Feb 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore today released the 2006 Debt Affordability Study to Gov. Easley and members of the General Assembly. The annual study, issued for the first time by Moore in 2002, is intended to serve as a tool for sound debt management and protection of North Carolina's strong bond rating.

Click the link below to read the complete news:
http://www.nctreasurer.com/News/Files/2162006_116_2006DebtAffordabilityRelease.pdf