FOR IMMEDIATE RELEASE
Treasurer Cowell Praises Passage of Investment Flexibility
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.”
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.