The North Carolina Investment Authority Board of Directors was updated on important policies and guidelines today in its final preparation meeting before assuming fiduciary responsibility of the $139 billion state pension plan effective Jan. 1. Sole fiduciary status has been held by the treasurer, but State Treasurer Brad Briner successfully promoted legislative action to change to a five-member board structure.
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N.C. Investment Authority Board OKs Resolution to Serve as Supplemental Retirement Plans' Fiduciary
The North Carolina Investment Authority (NCIA) met today and approved a Board of Directors charter, policy manual and budget — key steps needed to transfer statutory investment powers and duties from the Department of State Treasurer (DST) to the authority, effective Jan. 1, 2026.The current investment team reported to the authority assets under management in the North Carolina Retirement Systems (NCRS) grew to a record $139.1 billion as of Sept. 30, a steep increase over the 2024 year-end market value of $126.5 billion.
Landmark legislation spearheaded by Treasurer Brad Briner earlier this year will revamp the way North Carolina’s $200 billion in public monies from the North Carolina Retirement Systems, cash management and other funds are managed. The Treasurer, who currently holds all investment authority, will now chair a board which oversees these taxpayer dollars. The N.C. Investment Authority Board (NCIA) held its first organizational meeting today.