NC State Pension Funds report gains

Aug. 19. The NC State Pension Fund had gains of 6.38% for the 2nd quarter. Pension fund assets were valued at $103.9 billion on June 30, an increase of $5.6 billion from $98.3 billion at the end of the 1st quarter of 2020.

Additionally, fund levels as of Aug. 14, are $107.3 billion, exceeding the fund’s 2020 high of $106.9 billion in February prior to the COVID-19 economic shutdown. These figures, and all of the following performance figures, are reported net of all fees and expenses including paying $1.5 billion in gross benefits during the three-month period.

Huntersville Mayor John Aneralla

Huntersville Mayor John Aneralla is a member of the Investment Advisory Committee.

“A 6.38% return during one of the most volatile markets I’ve ever seen is a testament to the great work done here by our investment management team,” said NC Treasurer Dale Folwell who is running for reelection against Aaron “Ronnie” Chatterji, a professor at Duke University’s Fuqua School of Business and Sanford School of Public Policy.

An update on the Internal Passive Equity Funds performance was also given during the IAC meeting, with passive assets under management topping $11.6 billion. Second-quarter returns of 20.84% performed in line with the fund’s benchmark of the Russell 200 index, and 24.71% in returns performed in line with the Russell Mid Cap index strategy.

The North Carolina Pension Systems is widely regarded as one of the best funded in the nation. In fact, Moody’s Investors Service recently reported that North Carolina’s Retirement Systems, which includes state and local employees, is the best funded in the nation when looking at its Adjusted Net Pension Liability.

Additionally, a recent “stress test” by The Pew Charitable Trusts concluded that North Carolina’s state pension fund is well-positioned to maintain solvency during tough economic times.

The NC Retirement Systems is the ninth-largest public pension fund in the country, providing retirement benefits and savings for more than 950,000 teachers, state employees, local governments, firefighters, police officers and other public workers.


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