Richard H. Moore, North Carolina state treasurer, asked legislators for permission to invest up to 65% of the Raleigh-based North Carolina Employees’ Retirement System market value in stocks.
Under current law, the $59 billion state pension fund can invest only up to 50% of the book value of its assets, said Katherine Kirkman, a spokeswoman.
Legislation was introduced by state Rep. Gordon P. Allen and state Sen. David W. Hoyle, both Democrats, to increase the system’s allocation to alternatives and also allow it to increase its equity exposure. The Legislature is expected to be in session for "several more weeks,” Ms. Kirkman said.
