State Employees Association of North Carolina

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SEANC to Cowell: Pull out of hedge funds to avoid run

The State Employees Association of North Carolina is calling on state Treasurer Janet Cowell to withdraw all investments in hedge funds immediately in light of the same move by the California Public Employees Retirement System (CalPERS), the nation’s largest pension fund, Monday.

CalPERS plans to eliminate all $4 billion of its hedge fund investments over the next year.  The impact of this action could potentially lead to a “run on the bank,” with other pension funds and investors pulling out of the now $2.8 trillion hedge fund industry.

If North Carolina waits until other investors have taken their money and assets are devalued, state employees and retirees could lose even more than they already have by being in these risky investments.

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You can prepare for life's uncertainties and gain peace of mind by finding a SEANC Insurance program that fits your needs and your budget. Whether you are expecting your first child or retiring from a lifetime of public service, a big change can influence how much financial protection your family needs. Start today and take advantage of SEANC's group rates! Payroll deduction is available through most state agencies and the state retirement system. To find out more, see an overview of all SEANC insurance programs here or select the plans you're interested in below.

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For more information, contact the SEANC Insurance Department at 919-833-6436 or 800-222-2758. Send SEANC Insurance faxes to 919-792-3321.

Insurance Director Brenda Hooker    
Lead Insurance Specialist Celiamarie Wilson    
Insurance Specialist Sabrina Williams
Insurance Specialist Denise Jones
Insurance Specialist Tamara Bridges

For more information on the SEANC Legal Plan, contact Carri Derrick at 919-833-6436 or 800-222-2758.