§ 147-69.10. Investment policies and performance reviews of Retirement Systems investment programs.

158 words·~1 min read·/nc/chapter-147/147-69-10

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(a)On at least a biennial basis, the Chief Investment Officer shall present an investment policy statement to the Board of Directors for approval. The investment policy statement must include descriptions of investment objectives and strategy, roles and responsibilities, permissible asset classes, asset allocation targets and ranges, risk management and compliance guidelines, and evaluation criteria necessary to measure investment performance.

(b)At least once every four years, the Investment Authority shall engage a commercial independent expert firm, pursuant to G.S. 147-71.2(c), to evaluate the governance, operations, and investment practices of the Investment Authority in order to develop recommendations for improvement. The report of the independent expert firm shall be provided to the Joint Legislative Commission on Governmental Operations, the House of Representatives Appropriations Committee, the Senate Appropriations/Base Budget Committee, and the Fiscal Research Division within 30 days of receipt. (2016-55, s. 3; 2025-6, ss. 1.1(3), 3.1(b).)