NC pension report examines past conflict issues - Greenville, NC | News | Weather | Sports - WNCT.com

NC pension report examines past conflict issues

Posted: Updated:

North Carolina's public employee pension system says it will receive $15 million in refunds and discounted fees from investment funds cited in a report that raised questions about influence peddling and conflicts of interest in managing retirement money.

Transactions involving nine outside firms were highlighted in a report released Monday to a panel that advises Treasurer Janet Cowell and her retirement system staff. The issues occurred during the administration of predecessor Richard Moore.

The report was developed in part by an outside law firm and focused largely on placement agents. These are people who match pension funds up with investment firms looking to manage a portion of their money. The agents get a referral fee.

Cowell's office has created several new ethics and investments rules since taking office in 2009.

Powered by WorldNow

3221 South Evans Street
Greenville N.C. 27834

Telephone: 252.355.8500
Fax: 252.355.8568
Email: newsdesk@wnct.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.