The law creates the NC Investment Authority to modernize investment management and oversee $129B in pension, education, and transport funds.
New North Carolina State Treasurer Brad Briner and state government retirement systems urge the state Supreme Court to avoid taking up a case challenging recent cost-of-living adjustments for retiree benefits. State government retiree Michael Hughes asked the state’s high court earlier this month to take up his class-action suit.
The North Carolina Supreme Court will not take up pension spiking cases involving the Harnett and Wilson county school boards. In both cases, the state’s second-highest court ruled against the school systems in their disputes with the state employees’ retirement system.
The state employees’ retirement system and top legislative leaders urge the state Supreme Court to reject Wilson County schools’ recent appeal in a pension-spiking dispute. At stake is a $400,000 bill assessed to the county school board.
State Treasurer Dale Folwell wants to know if Wall Street investors charged the state fees on $9 billion of state pension plan money that never got invested. At the same time, unfunded liabilities in the retirement system grew to more than $13 billion. Folwell said some investment fund managers collected all the fees they were...
Get Reminded When We Go LIVE on Election Night!
