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Administration June 3, 2009
Tar Heel State Senate Approves Pension Diversification Measure
June 3, 2009 (PLANSPONSOR.com) - North Carolina
Treasurer Janet Cowell is one step closer to enjoying more
leeway in how she invests state pension money.
Reported by Fred Schneyer
An Associated Press news report said the state
Senate approved a measure allowing Cowell’s office to put
up to 10% of retirement funds in asset classes such as
timberland, commodities and securities rated below
investment grade.
The state House agreed to the changes last week so the
bill now heads to the desk of Governor Beverly Perdue
(see
Tar Heel State Treasurer Seeks Pension Investment
Diversification
)
Cowell’s office has said she needs more flexibility to keep returns at or above what’s needed to meet long-term retiree obligations.