North Carolina's public employee pension funds have dropped in value by at least $6 billion over the last three months.
But State Treasurer Richard Moore said Monday the retirement system that supports more than 800,000 current and former state workers is sound. He says no one should worry about their monthly pension check.
Moore told reporters the pension fund was valued around $66 billion as of Sept. 30 and has taken some hits due to the recent stock market turbulence. But he said the plan continues to outperform other government pension funds and can pay out all of its benefits.
Moore said the fund's conservative portfolio allows it to accumulate more returns on its fixed-income securities during difficult economic times.