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Panel to review NC pension fund investing rules

By Associated Press
Published On: Jan 16 2014 08:50:33 PM CST
RALEIGH -

State Treasurer Janet Cowell has assembled a panel to examine North Carolina's public pension funds and determine whether changes are needed to investment governing rules.
   
Cowell says the 11-member commission she unveiled Thursday is independent and bipartisan. The group will hold its first meeting next week and make recommendations to Cowell and the General Assembly by April 30. The commission is expected to evaluate, among other things, whether the treasurer should retain sole investment authority over pension funds or share it with a trustee board.
   
The panel will be led by Michael Kennedy, chairman of Federal Retirement Thrift Investment Board. Other members include four state legislators and representatives within state and local government pension plans Cowell oversees.
   
The state's public retirement funds are valued at more than $80 billion.