Raleigh, N.C. -- State Treasurer Dale R. Folwell, CPA, announced that Kevin SigRist, Chief Investment Officer (CIO) for the North Carolina Retirement Systems, submitted his resignation last Friday.
In his letter to Treasurer Folwell, SigRist thanked “[his] Department teammates for the honor of working alongside them since early 2013.” Prior to coming to North Carolina, SigRist was Deputy Executive Director of the State Board of Administration in Florida.
Just last week, Folwell announced preliminary state pension fund returns for the second quarter of 2017, reporting gains of 2.7 percent for the quarter and 10.6 percent for the fiscal year ending June 30, 2017. The fund’s assets were valued at $93.9 billion, up from $92.2 billion at the end of the first quarter of 2017. During the second quarter, the fund achieved its highest valuations ever.
“I was surprised when Mr. SigRist gave me his resignation letter,” said Treasurer Folwell. “It was not asked for, but I feel confident that we will continue to provide stable management for the pension fund. We will be announcing plans for the department in the very near future.”
The North Carolina Retirement Systems, the formal name for the pension fund, is the tenth largest public pension fund in the country. It provides retirement benefits and savings for more than 900,000 North Carolinians, including teachers, state employees, firefighters, police officers and other public workers. For more information, visit www.nctreasurer.com.