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
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.
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