State Employees Association of North Carolina

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SEANC Forensic Investigation into State Pension Plan Discovers $30 Billion Unaccounted for, Calls for SEC Intervention

The State Employees Association of North Carolina and Benchmark Financial Services announced today the filing of a complaint with the U.S. Securities and Exchange Commission’s Office of the Whistleblower after a forensic investigation found $30 billion (35 percent) unaccounted for in North Carolina’s Teachers’ and State Employees’ Retirement System (TSERS).

In announcing the filing of the complaint, SEANC and Benchmark released a forensic report
detailing a number of potential violations of state and federal law, as well as other concerns regarding the management of the $87 billion pension fund by State Treasurer Janet Cowell.

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2013-2014 Board of Governors
Quarterly Meeting
May 16-17, 2014
SEANC Central Office

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