North Carolina Supplemental Retirement Plans, Raleigh, are adding the North Carolina Inflation Responsive Fund, managed by Pacific Investment Management Co., to the investment lineup of its 401(k) and 457 plans, confirmed Schorr Johnson, spokesman for North Carolina Treasurer Janet Cowell, who oversees the plans.
The addition is being made “to help members safeguard their retirement savings against the specific risk of inflation” based upon the recommendation of Mercer, the plans' investment consultant, according to the letter.
Among the asset classes in which the fund invests are commodities, emerging markets currencies, REITs and TIPS. The addition is effective Sept. 13.
The plans had a combined $6.8 billion in assets as of Sept. 30, according to Pensions & Investments data.