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North Carolina Employee Union Takes Pension Complaints to SEC
WRAL.com Link to more items from this source
Apr. 23, 2014
"The union representing tens of thousands of North Carolina state workers [has] filed a complaint with the [SEC] over how State Treasurer Janet Cowell is managing the $86 billion pension system.... One of the union's major objections is that Cowell has the authority to invest up to 35 percent of pension fund holdings into hedge funds, private-equity firms or other alternative investments ... State lawmakers last summer raised the maximum that could be directed to those investments. The pension fund's quarterly update in February reported about $19 billion in pension assets, about 21 percent, were in alternative investments."

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