The N.C. Treasurer's office is crafting a proposal to overhaul the way his office controls investments in the state pension plan.
North Carolina's pension plan for state employees is nearly 90% funded, which is well above the national average, but State Treasurer Brad Briner has been warning other state leaders of the remaining $16 billion shortfall.
"I have, within statutory limitations, the ability to make investments as I see fit. I do not think that is the best-in-class model," Briner said at this week's Council of State meeting. "Forty-seven other states agree with that statement, and so we want to go down the road of taking some of the power away from the State Treasurer."
Briner said he wants a group to decide how to invest pension funds.
"... Empanelling a board of experts to make better investments for our state employees, to make better outcomes for our investments, and for the finances of this state," he said, at the time.
Briner did not say who those experts would be or when he would create the board.
Meanwhile, Briner reminded the Council of State that the state health plan also has a budget shortfall. Premiums will likely go up by an average of $250 per year in 2026.
