• 59°

More pension flexibility for NC treasurer approved

RALEIGH (AP) — A House panel has narrowly agreed to give State Treasurer Janet Cowell more flexibility in investing North Carolina public employee pension funds that she says is needed to meet return rates so retirement funds are sound.
The Finance Committee voted 14-13 Wednesday for a bill that doesn’t allow as much of the $80 billion portfolio to be placed in alternative investments beyond stocks and bonds as the Senate version allowed.
The Senate wanted it raised from the current 34 percent to 40 percent. The House version is 35 percent, but there would still be higher limits in several investment categories.
The State Employees Association of North Carolina opposes the bill. Lobbyist Ardis Watkins told lawmakers alternative investments are too costly and risky.
The measure now goes to the full House.

Comments

Comments closed.

Ask Us

Ask Us: What programs exist for litter cleanup?

Business

County begins accepting restaurant grant applications

Crime

Blotter: Salisbury man charged with nine more felony sex offenses

Nation/World

Biden team readies wider economic package after virus relief

Nation/World

Spacewalking astronauts prep station for new solar wings

Nation/World

Cuomo sorry for remarks aide ‘misinterpreted’ as harassment

Nation/World

Trump calls for GOP unity, repeats lies about election loss

Education

Rowan County administers 700 vaccines, with majority going to local educators

Crime

Shoplifting at Walmart presents challenge for Salisbury police

Local

Commissioners will hear details about changes to solar energy policies

Business

After overcoming obstacles, local barber Daniel King earns registered status

Lifestyle

39th annual K12 student exhibitions go virtual

Business

Biz Roundup: Chamber of Commerce to host ‘Salute to Agri-Business’ at March Power in Partnership

Local

Local legislators back bills ranging from new restrictions on sex offenders to Holocaust education

News

After surviving COVID-19 scare, Lois Willard set to celebrate 100th birthday

High School

Carson rolls over South 41-0 as about 600 allowed in to see season opener for both

Education

East Spencer after-school program looks toward opening, nonprofit status

Lifestyle

Frank Ramsey inducted into the NC Military Veterans Hall of Fame

College

Livingstone’s Stoutamire inducted into 2021 CIAA Hall of Fame

Nation/World

J&J’s 1-dose shot cleared, giving US 3rd COVID-19 vaccine

Coronavirus

13 deaths reported in Rowan, county stresses need to receive second dose

Coronavirus

10% of Rowan residents receive first dose; eight COVID-19 deaths reported this week

News

North Carolina State Highway Patrol commander to retire

Education

UNC School of the Arts may go for online learning due to COVID-19 spread