State Treasurer Brad Briner is hosted a press conference today to look back at a busy and successful year at the Department of State Treasurer.
“When I came into office, I inherited many challenges facing our divisions. Working with my talented team, we made some hard but necessary decisions, resolved issues, established winning strategies and implemented forward-looking policies,” said Treasurer Briner.
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.
The State Health Plan (Plan) has completed a difficult year, but now is projecting that the massive deficit it was facing on Jan. 1 has been addressed. Today the State Health Plan (Plan) Board of Trustees heard from Plan staff and consultants on where things stand now and strategies underway for 2026.
The Local Government Commission today approved a $275,670,000 financing request linked to Duke Health System’s purchase of Lake Norman Regional Medical Center, now known as Duke Health Lake Norman.
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.
State Treasurer Brad Briner is offering condolences and prayers to the family and friends of Vernon Gammon today. Gammon passed away over the weekend. In a statement Briner said:
“Vernon Gammon served with distinction on the Board of Trustees of the Teachers’ and State Employees’ Retirement System since 2017. We have appreciated his wisdom and even-keeled leadership on the Board. He was the type of person who listened first and then worked to bring people together to reach consensus on issues before the Board. He will be greatly missed.”
State Treasurer Brad Briner announced more transactions from NCDST which will save taxpayers a total of $160 million. Today, the Department refunded or purchased by tender older General Obligation bonds which were issued for numerous capital projects around the state.
Affordable housing remains a challenge in North Carolina, and the Local Government Commission (LGC) continues to fulfill its role in attacking the problem. Commission members approved financing requests today totaling just over $370 million for affordable housing and retirement home projects around the state.
In order for the North Carolina’s pension system to move forward, it has to take a deep dive looking back every five years. Today the North Carolina Retirement Systems (NCRS) Board of Trustees (BOT) got updates needed to determine things like cost-of-living adjustments and employer contribution rates.
There is a long list of factors that goes into determining when COLA’s or one-time bonuses can be recommended. As things stand right now, some of the criteria is not met for 2026 — but no votes would come from the BOT until January.
North Carolina taxpayers will save millions of dollars as a result of old bonds — issued for numerous capital projects around the state — being refunded at a lower interest rate. This savings is thanks to the work of the State and Local Government Finance Division (SLGFD) to modernize the state’s debt processes.