NC pension funds go up in 3rd quarter with stocks

RALEIGH — Rebounding stock markets helped boost returns for North Carolina’s public employee pension funds during the third quarter.

State Treasurer Janet Cowell said Monday the retirement systems recorded a 10.4 percent increase during the three months ending Sept. 30.

The uptick means pension assets grew for the quarter from $60 billion to almost $66 billion. That’s still below the high of $77 billion at the end of 2007.

The North Carolina Retirement Systems benefited from a 17.6 percent increase in its equity portfolio. Cowell said bonds reported a nearly 6 percent increase, but real estate had an 8
percent loss.

Cowell’s office invests pension funds for more than 820,000 public workers and retirees in North Carolina, including teachers and state employees.

(Copyright 2009 by The Associated Press. All Rights Reserved.)