About the Office
The Office of State Treasurer, established in the North Carolina Constitution, requires experienced and proven leadership. The Treasurer serves as the State's banker and Chief Investment Officer. He manages state's pension and retirement benefits. The Treasurer counsels local governments in fiscal matters and administers the escheat and abandoned property program. These important duties of the Treasurer, defined in the North Carolina General Statutes, allow the North Carolina Treasurer to wield considerable influence over the future of North Carolina economy and education system.The Treasurer's primary duties include*:
- Managing more than $75 billion in public funds
- Serving as sole fiduciary for the North Carolina Retirement Systems (NCRS), which provide retirement benefits for more than 700,000 North Carolinians
- Investing public funds to earn consistent returns
- Supervising the state’s banking system, which processed more than 14 million checks last year
- Administering NC Cash, the state’s unclaimed property fund, which contains more than $500 million and has funded college scholarships for more than 189,000 students
- Helping state and local government units maintain fiscal health by assisting with financial management and debt issuance
- Issuing the annual Debt Affordability Report to inform the Governor and lawmakers about the amount of debt that the state can manage
- Serving on the State Boards of Education and Community Colleges
- Serving on the Boards for the State’s public employee retirement systems, as well as the 401k and 457 plans offered to public employees
- Chairing the State’s Banking Commission
* from www.nctreasurer.com
