Latest News

N.C. pension fund outperforms

North Carolina's pension fund posted negative returns for the fiscal year ended June 30, but it fared better than the median performance of public pension funds in a turbulent year for financial markets.

The state treasurer's office said Monday that the fund had a return of -2.07 percent for the year, compared to -4.51 percent during the same period for public funds tracked by Wilshire Associates, a research and consulting firm. The $72 billion fund provides retirement benefits to more than 820,000 state and local employees and retirees.

N.C. Treasurer Richard Moore, who presides over the fund, noted the state has long favored an investment strategy that is designed to be a top performer in bear markets while providing solid returns in bull markets. “This year's performance demonstrates the wisdom of our focus on steady results and the long-term security of the pension fund,” Moore said.

North Carolina's five-year return was 8.21 percent, compared to 8.92 percent for all public pension funds.