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Treasurer Cowell Praises Passage of Investment Flexibility Legislation

FOR IMMEDIATE RELEASE

Treasurer Cowell Praises Passage of Investment Flexibility Legislation

Raleigh—North Carolina State Treasurer Janet Cowell made this statement following the North Carolina Senate’s final passage of legislation (Senate Bill 558) granting the Treasurer additional investment flexibility for the state pension fund. 

“I want to thank all the members of the General Assembly who supported investment flexibility. During the House debate, there was a lot of talk about risk. The risk in its most fundamental sense is for our fund to not be able to pay out promised pensions over the long-term. This legislation improves our ability to protect and grow the pension fund while keeping its long-term cost to the taxpayers at a reasonable level. I look forward to this legislation being signed into law.”

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The North Carolina Retirement Systems, the formal name for the pension fund, is now the tenth largest public pension fund in the country. It provides retirement benefits and savings for more than 875,000 North Carolinians, including teachers, state employees, firefighters, police officers and other public workers. For more information, visit www.nctreasurer.com​.