State Treasurer Folwell is Watching the Pennies and Paperclips

    by CLC Staff

    Following the release of the 2024 Debt Affordability Study late last week, North Carolina State Treasurer Dale Folwell took to X this morning to highlight the goings-on over at the State Treasurer’s office.

    “We continue to manage one of the largest pools of public money in the world,” commented Folwell. “Our pension plan on behalf of those that teach, protect, and otherwise serve, it just got ranked back to back as the most efficient pension plan in North America.”

    According to Folwell, North Carolina’s pension plan is over four times the size of North Carolina’s state budget and the 27th largest pool of public money in the entire world.

    He went on to praise his staff at the Investment Management Division. The Investment Management Division is responsible for the management of the Short-Term Investment Fund (STIF), the Pension Fund Investment Program and the Ancillary Investment Programs.

    “On the state health plan, we continue to fight higher health care and, as you’ve been reading, higher prescription drug costs,” he continued. “We have a responsibility to all of you who teach, protect, and serve and taxpayers like you to make sure that we’re getting the best value for the lowest cost for our members. At the end of the day, even though we managed $248 billion, we continue to watch the pennies and paper clips.”

    Folwell also noted that his State and Local Government Finance Division retired $20 million in Connect NC bonds that had been issued to the now-defunct Silicon Valley Bank, buying them back for $14 million.