State Pension Funds Report 3rd Quarter Decline

North Carolina's public employee pension funds saw a more than 6 percent decline in the third quarter -- losses that State Treasurer Janet Cowell attributes to stock market fluctuation related to instability in Europe and economic weakness in several countries.

Cowell announced Monday the loss for the three months ending Sept. 30 was amplified by a nearly 18 percent decline in the funds' global equity portfolio. The losses were offset somewhat by positive returns for investments like bonds, real estate and alternative investments.

Cowell says decisions to diversify investments have lowered risk for the pension funds, which cover more than 850,000 employees and retirees.

The funds -- valued at almost $70 billion on Sept. 30 -- have seen a negative return of 1.6 percent during 2011.

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  • by Barlow Location: Winterville on Nov 15, 2011 at 11:15 AM
    Yeah lets rich keep their bonuses and tax breaks because they EARNED them by ripping off the American people, THEN got bailed out and NOW are trying to do it again in the form of higher fees and the same kind of derivative swaps that caused the problem in the first place. Wake Up! It's not the poor that are robbing you it is the rich who are the ones who have the power to cause such a mess.
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      by Obama Snake Oil Co on Nov 15, 2011 at 01:17 PM in reply to Barlow
      What a nice marxist liberterdial post about nothing as usual. The poor? Can you define who the poor in America is? You mean those that get food, money, a home, support for their children are poor? So now we give them free cable, cellphones and internet. Tell us about those poor again? You tell us they are not robbing us by not working and paying taxes and we should believe you cause its what you "feel". Good luck with that. I am just glad I work for a rich man who pays me well and looks after me. I am so glad I didn't take a government job like you did to rely on tax money from me to pay you. Cause, I wouldn't do it if I wasn't forced to. So you couldn't make it on your own...obviously, if you were intelligent, you would have looked higher.
      • reply
        by Barlow on Nov 15, 2011 at 03:22 PM in reply to Obama Snake Oil Co
        So, you're a happy corporate bootlicker are you? If everyone was like you we'd still have child labor and slavery in this country. Patriots work to make their country better! Try being one Repugnant! My tax money pays for your corporate masters corporate welfare and I'm tired of paying
        • reply
          by uh on Nov 16, 2011 at 08:13 PM in reply to Barlow
          You two are acting unprofessionally with your name calling. All each of you does with your insults is inadvertently feed the other side's hostility. I'm an American, before I am a republican, libertarian, or democrat. To disparage fellow Americans who actually show an interest in public policy is to fulfill the mission of those who would seek to distract us from their corruption, which is perched on both sides of the aisle, and purchased from behind the scenes.
  • by Teresa Location: Farmville on Nov 15, 2011 at 08:47 AM
    Greed will destroy you. If big corps did not have so many tax loop holes, people would actually believe that they really help the economy. You really have to be stupid to think they pay the buck of the taxes. They get around taxes by send the jobs overseas and bringing the product back here to sale. They are ripping their own country off....
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      by Obama Snake Oil Co on Nov 15, 2011 at 01:23 PM in reply to Teresa
      Yes, tell Warren Buffet to pay his billion in back taxes from 2002! He can afford to push Obimbo but cannot pay his back taxes...Oh, and Obama is sending those jobs overseas. Yeah, he is lying about it as usual. He came up with EPA laws that make it too expensive to operatorate a company in the USA with the highest corp tax rates in the world. You did know that right? Now they don't pay any taxes here in the US and no fines to operate over there. Another Obama achievement you should be proud of. And those other jobs lost overseas, drilling for oil that you use everday of your life. Nice huh? Argentina thanks us for being stupid enough to stop our own drilling and allow them to do it for us.
  • by Kane on Nov 15, 2011 at 07:22 AM
    Why not ask the 50% who don't pay taxes, to pay some taxes?
    • reply
      by Barlow on Nov 15, 2011 at 09:01 AM in reply to Kane
      It is a Fixed myth that 50% don't pay taxes, About half of taxpayers paid no federal income tax last year. It does not mean they paid no tax at all
      • reply
        by Obama Snake Oil co on Nov 15, 2011 at 09:25 AM in reply to Barlow
        Yeah, and then there are those that pay all taxes not just the sales and gas tax. You just covered state taxes, not federal. In fact, many of these libterd get a tax refund when they didn't even pay into the system. I see you are spinning it out there as usual, nice try, facts are against you.
        • reply
          by Anonymous on Nov 15, 2011 at 01:31 PM in reply to Obama Snake Oil co
          Are you a self-proclaimed genius? You sound like a lying RepubliCAN'T. You are no better than the demoCRAPS.
        • reply
          by Obama Snake Oil co on Nov 15, 2011 at 03:58 PM in reply to Obama Snake Oil co
          I am registered democraps. You sound like someone who doesn't pay taxes. I vote for the country...who do you vote for? Sorry to burst you little bubble, I support the Tea Party...what about those lying repubs...can you give some examples of that, links, facts, data, comments, opine, video or sound bites? Seems all the lying people are democraps.....I call them libterds. I'll wait.
  • by Barlow Location: Winterville on Nov 15, 2011 at 05:55 AM
    Nobody is routing for the demise of Wall Street. We are asking them to obey the law and not lie and cheat to make a profit. Many of the managers of these kinds of pension funds bought into the "triple A rated" worthless securites bundled before the financial collapse. Working people lost a large portion of their entire life savings because of a few unscrupulous people on Wall Street. And what did they get for their deceipt? A bailout and a bonus. This can't happen again.
    • reply
      by Barlow on Nov 15, 2011 at 06:47 AM in reply to Barlow
      The good thing is that BOTH Republicans and Democrats have had it with taxpayers footing the bill for failure.
    • reply
      by Obama Snake Oil co on Nov 15, 2011 at 09:30 AM in reply to Barlow
      Barlow, Obamas admin sent the money with no stipulation on it. There is the problem. I agree with you on this point. They should payback us before they get bonuses or at least prove they are paying it back. Last I checked, no one got a bonus for a failure. The other problem, the housing and bank problem. Bush warned Freddie and Fannie to stop with the loose loans yet they continued until they went broke. We cannot loan to people that will not pay it back and we don't need programs to keep people in million dollar homes that cannot afford it.
  • by Stan Location: G'ville on Nov 15, 2011 at 03:56 AM
    Becareful of what you ask for, the demise of Wall Street would hurt everyone in the Public Sector as well.

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