North Carolina -- State Treasurer News

Annual Study Shows Pension Fund Remains Strong

Fri, 17 Oct 2008 00:00:00 GMT

Retirement System Funded at 104.7 Percent According to Annual Valuation RALEIGH - State Treasurer Richard Moore released the annual actuarial study of the North Carolina pension fund, which demonstrates that the fund remains one of the strongest in the nation with a funding level of 104.7 percent. North Carolina's fund is one of the very few in the nation with a funding ratio, or assets divided by liabilities, greater than 100 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/10162008_3746_Retirement Valuation.pdf

N.C. Pension Fund Files Shareholder Proposal At Cintas

Fri, 03 Oct 2008 00:00:00 GMT

RALEIGH - The North Carolina Retirement Systems (NCRS) has filed a shareholder proposal to require an Independent Chairman at Cintas, calling for objective oversight to represent shareholders and reverse a five-year trend of underperformance. At the company's annual meeting on October 14th, the pension fund will also support the proposal seeking an advisory shareholder vote on executive pay and will vote against director nominee David Phillips. All of these items are supported by proxy services Risk Metrics/ISS Governance Services (ISS) and Glass Lewis.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1022008_2814_Cintas2008.pdf

North Carolina Extends Contract with Prudential Retirement, New Deal Will Save Plan Members Millions

Thu, 28 Aug 2008 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that the State has chosen to renew its contract with Prudential Retirement for third party administration of the NC 401(k) Plan and to award Prudential the contract for third party administration of the NC Deferred Compensation Plan. The changes in record-keeping contracts and investment options will save plan members tens of millions of dollars per year.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/8272008_595_Prudential.pdf

In Bear Market, NC Pension Fund Overperforms

Tue, 19 Aug 2008 00:00:00 GMT

RALEIGH - In the midst of an economic downturn and erratic financial markets, North Carolina's pension fund performance ranked in the top 25 percent of public pension funds. For the fiscal year ending June 30, 2008, the fund lost 2.07 percent, well above the national average of -4.51 percent. North Carolina's conservative investment strategy is designed to be among the best performers in bear markets and to provide solid returns during bull markets.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/8182008_2215_PensionFundReturns.pdf

State of North Carolina Issues First Limited Obligation Bonds

Thu, 14 Aug 2008 00:00:00 GMT

RALEIGH - The State of North Carolina today made its first sale of $200 million of State Capital Improvement Limited Obligation Bonds (the Series 2008A Bonds) to finance various state capital projects. The Bonds will provide funding for higher education, public safety and various other projects. The Bonds were sold competitively and awarded to Wachovia Bank, National Association who submitted the most favorable of nine bids. Wachovia offered a true interest cost of 4.322 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/8132008_2243_LimitedObligationBonds.pdf

Moore Calls On Cooper To Forego Appeals In Pension Fund Lawsuit

Fri, 08 Aug 2008 00:00:00 GMT

RALEIGH - Today State Treasurer Richard Moore urged Attorney General Roy Cooper to forego any further appeals in the Stone vs. State lawsuit, saying that the court's ruling was the right one for North Carolina. Earlier this week, the North Carolina Court of Appeals ruled that the diversion of $225 million from North Carolina's pension fund to help cover the 2001 budget shortfall was not legal.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/872008_2259_Lawsuitletterreleaseletter.pdf

SEANC Public Records Lawsuit Dismissed

Tue, 22 Jul 2008 00:00:00 GMT

RALEIGH - Superior Court Judge James Hardin, Jr. has dismissed the public records lawsuit filed by the State Employees Association of North Carolina (SEANC) against State Treasurer Richard Moore and the Department of State Treasurer. In issuing the dismissal, the court ruled that there was no basis for the lawsuit and that the evidence presented was insufficient to warrant the case.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/7212008_253_SEANCDismissal.pdf

Moore Gets Action On Climate Change

Wed, 19 Mar 2008 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that Dynegy, a national company that provides wholesale power, capacity and ancillary services to utilities, cooperatives, municipalities and other energy companies in 15 states, has agreed to greater transparency and attention to climate change issues. On behalf of the North Carolina Retirement Systems (NCRS), Moore filed a shareholder resolution with the company asking them to provide a report "concerning the feasibility of adopting quantitative goals, based on current and emerging technologies, for reducing total carbon dioxide and other emissions from the company's existing and proposed power plants." The company has agreed to explore strategies to reduce greenhouse gas emissions, prompting Moore and CalSTRS, which was also a co-filer on this proposal, to withdraw the resolution

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/3182008_2526_ClimateChangeResolutions.pdf

Moore Files Shareholder Resolutions On Subprime Crisis

Wed, 12 Mar 2008 00:00:00 GMT

RALEIGH - With the subprime mortgage crisis continuing to sweep across the country and wreak havoc on the nation's financial industry, State Treasurer Richard Moore has joined with other pension plans in filing resolutions to allow shareholder-nominated candidates to run for seats on the boards of directors at Bear Stearns, Countrywide, JP Morgan Chase and E*Trade. As the sole fiduciary of the state's $78 billion pension fund, Moore is concerned with the strategic choices of these companies, which have led to serious losses in the market during the subprime mortgage crisis. The American Federation of State, County and Municipal Employees (AFSCME) also supports these resolutions, and the New Jersey Division of Investments joined in filing the resolution at Bear Stearns.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/3112008_2547_SubprimeResolutions.pdf

Moore Announces NC Saves Week

Sat, 23 Feb 2008 00:00:00 GMT

RALEIGH -- In an effort to battle the lowest national savings rates since the Great Depression, State Treasurer Richard Moore challenged North Carolinians to learn more about their finances and to save more for the future during NC Saves Week -- February 24- March 2.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/2222008_263_NCSavesWeek.pdf

N.C. Pension Fund Ranked 2nd in Nation by S&P

Fri, 22 Feb 2008 00:00:00 GMT

RALEIGH - North Carolina's pension fund is the second strongest in the nation for the third year in a row, according to a new report issued by Standard & Poor's, the national credit-rating agency. The fund, managed by State Treasurer Richard Moore, is one of only five state pension funds in the nation with all the money on hand to meet its obligations. North Carolina's pension fund has a funding ratio of 106.1 percent, compared to a national average of 81 percent. Since 2000, the national average has dropped from just over 100 percent, while North Carolina has retained its strong funding status.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/2212008_2645_SandP.pdf

Moore, Investors Tackle Climate Change

Tue, 19 Feb 2008 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore and a coalition of nearly 50 leading U.S. and European institutional investors managing over $1.75 trillion in assets recently released a climate change action plan at the United Nations. The plan will boost investments in energy efficiency and clean energy technologies and require tougher scrutiny of carbon-intensive investments that may pose long-term financial risks.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/2182008_2713_Ceres.pdf

SEANC Lawsuit Called 'Unsupported and Unfounded'

Sat, 09 Feb 2008 00:00:00 GMT

RALEIGH - The Attorney General's Office issued a letter today to the State Employees Association of North Carolina (SEANC) calling the organization's public records lawsuit and allegations against the Department of State Treasurer "unsupported and unfounded." The Department of Justice has thoroughly reviewed the case and the facts, including the 700 pages of documents hand delivered less than a month after SEANC's initial request.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/282008_2726_SEANCReleaseforWeb.pdf

Moore Releases 2008 Study of State's Debt Capacity

Fri, 01 Feb 2008 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore released the 2008 Debt Affordability Study, which concludes that the State could authorize and issue $479.7 million in new General Fund-supported debt for each of the next ten years and maintain manageable debt levels. For the first time, the report analyzes the available debt capacity for the Highway Fund and the Highway Trust Fund, calculating that the State could reasonably authorize and issue $174.6 million of new transportation-supported debt each year over the next ten years. Treasurer Moore and the Debt Affordability Advisory Committee also strongly urged the Governor and the General Assembly to move away from issuing non-voted debt, so-called Special Indebtedness, and return to the use of General Obligation debt, which requires a vote of the people and costs less.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1312008_2819_DebtAffordability.pdf

New York Times Reports Strength Of N.C. Pension Fund

Fri, 21 Dec 2007 00:00:00 GMT

RALEIGH - A new report, covered in yesterday's New York Times, demonstrates the continued strength of North Carolina's pension fund managed by State Treasurer Richard Moore, praising the state for diligently pre-paying its retiree benefits. The report, prepared by the Pew Center on the States, shows that North Carolina is one of only five states with a fully-funded pension plan, meaning that the resources are there to meet the needs of current and future retirees.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/12202007_2841_PewStudy.pdf

Moore Speaks Out On Shareholder Rights

Thu, 29 Nov 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore issued the following statement today in response to the Securities and Exchange Commission's (SEC) 3-1 vote giving companies the authority to deny shareholders access to board-election ballots. This move will likely make corporations less responsive to shareholders' concerns and interests. Last year, a federal appeals court rejected the SEC's longstanding practice of allowing companies to block shareholders from offering proxy access plans in a case involving AFSCME, the government workers' union, and insurance company American International Group Inc.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/11282007_292_ProxyAccess.pdf

Moore's Leadership on Mortgages Featured on National TV

Thu, 22 Nov 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore's leadership during the mortgage crisis was featured on Nightline last night as part of a segment on Countrywide, the nation's largest mortgage lender. Moore has been an outspoken critic of Countrywide, whose business and marketing practices contributed to the nation's subprime mortgage crisis, and their CEO Angelo Mozilo, who cashed out hundreds of millions in stock options just as the crisis started. To watch the video of the segment, please visit www.nctreasurer.com.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/11212007_3047_Nightline.pdf

Moore's Leadership on Mortgages Featured on National TV - Watch Treasurer Moore's Interview on Nightline

Thu, 22 Nov 2007 00:00:00 GMT

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Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/11212007_317_RHMNightlineCountrywide112007YouTube.wmv

Moore, Investors Seek Strong Environmental Measures In Energy Bill

Fri, 16 Nov 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore and a national coalition of investors representing more than $1.4 trillion in assets today urged Congress to pass a national energy bill that includes strong measures for expanding clean energy, reducing oil dependence and curbing global warming pollution. While a compromise measure is being negotiated, the group of more than two-dozen investors sent a letter to U.S. House and Senate leaders recommending specific language to improve energy efficiency, accelerate renewable energy and boost vehicle fuel economy standards.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/11152007_3132_EnergyBill.pdf

N.C. Retirement Plans Receive National Awards

Thu, 25 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that North Carolina's two supplemental retirement plans - the NC 401(k) Plan and the NC Deferred Compensation Plan - received national awards recognizing their outstanding education efforts and communications. Both plans, which are managed by Moore and the Department of State Treasurer, received Leadership Recognition Awards for "Effective Communications" from the National Association of Government Defined Contribution Administrators (NAGDCA).

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/10242007_3147_401kAward.pdf

New Report Shows N.C. Pension Fund Remains Strong

Fri, 19 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that North Carolina's pension fund remains one of the strongest in the nation, with a funding level of 106.1 percent. North Carolina's fund is one of the very few in the nation with a funding ratio, or assets divided by liabilities, greater than 100 percent. The new funding ratio was provided by the annual actuarial study of the Teachers' and State Employees' Retirement System (TSERS). TSERS provides retirement benefits for more than 500,000 working and retired teachers, state law enforcement officers and state employees.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/10182007_322_RetirementValuation.pdf

Moore Leads National Coalition Calling For Mortgage Changes

Wed, 17 Oct 2007 00:00:00 GMT

RALEIGH - With the mortgage crisis continuing to affect North Carolina and the country, State Treasurer Richard Moore today announced a series of policy and business principles to prevent future mortgage meltdowns. Moore's Mortgage Protection Principles are basic standards of transparency and fairness that mortgage brokers and lenders should follow going forward to strengthen their business operations and prevent another crisis. The principles are backed by a national coalition including Florida Chief Financial Officer Alex Sink, Kentucky Treasurer Jonathan Miller, New York State Comptroller Thomas DiNapoli and the Center for Responsible Lending.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/10162007_3226_NCMPP.pdf

Moore Calls For Investigation Of Countrywide CEO

Fri, 12 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore has called on the Securities & Exchange Commission (SEC) to investigate Countrywide CEO Angelo Mozilo's use of stock options and the timing of the changes made to his trading plans. News reports have indicated that Mozilo sold 4.9 million Countrywide shares - worth more than $138 million - between November 2006 and August 2007, just as the subprime problems were surfacing. He also reportedly changed the plans outlining how many of his shares would be sold monthly at least three times in the period beginning in October 2006, allowing him to sell the stock before its price fell dramatically.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/10112007_3240_MoziloInvestigation.pdf

State Fair Attendees Can Find Money At NC Cash Booth

Thu, 11 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore encourages North Carolinians visiting the 2007 State Fair to visit the NC Cash booth and search for some cash of their own. With one million properties in the NC Cash unclaimed property database and eight million North Carolinians, there is a one in eight chance that a North Carolina citizen has a claim.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/10102007_3251_StateFair.pdf

Moore Takes Action To End Board's Disregard Of Shareholders

Sat, 06 Oct 2007 00:00:00 GMT

RALEIGH - One of the world's major manufacturers, with annual sales of more than $8 billion, has agreed to support important changes in their corporate governance as a result of negotiations with State Treasurer Richard Moore. Moore announced today that Parker-Hannifin Corporation, an Ohio company with ten facilities and nearly 1,000 employees in North Carolina, has agreed to support annual elections for the members of its Board of Directors. Parker-Hannifin has placed an item on its proxy - with full Board support - calling for the declassification of the Board.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1052007_337_ParkerHannifin2.pdf

Treasurer Moore Backs Shareholder Proposals at Cintas

Fri, 05 Oct 2007 00:00:00 GMT

RALEIGH - North Carolina State Treasurer Richard Moore announced today that the North Carolina Retirement Systems (NCRS) will support two shareholder proposals to improve the independence and accountability of Cintas's Board of Directors at the company's annual meeting on October 23rd. NCRS will vote for Items 3 and 4 on the Cintas proxy, a proposal by the Massachusetts Laborers' Pension Fund that would require an independent Chairman of the Board of Directors and one by the United Brotherhood of Carpenters Pension Fund to adopt a majority vote standard for election of directors.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1042007_3320_Cintas.pdf

Treasurer Moore Awards $75 Million in Certificates of Participation

Thu, 04 Oct 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded approximately $75 million NC Infrastructure Finance Corporation Certificates of Participation (COPs) for repair and renovation projects today. The certificates were sold competitively and awarded to Citigroup Global Markets Inc., who submitted the most favorable of 10 bids. Citigroup offered a true interest cost of 4.318 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1032007_3334_COPSOctoberSale.pdf

Moore Awards State's First GARVEE Bonds

Thu, 27 Sep 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded $287,565,000 in Grant Anticipation Revenue Vehicle Bonds (GARVEE bonds) today in the state's first sale of these transportation funding bonds. GARVEE bonds are revenue bonds that allow the state to pledge future federal highway funds to pay debt service on the bonds. The proceeds will be used to accelerate construction on 39 Department of Transportation projects.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9262007_3530_GARVEEs.pdf

Moore Holds Corporate Environmental Roundtable

Tue, 25 Sep 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore held a roundtable today with five of North Carolina's largest companies - Bank of America, Duke Energy, Progress Energy, RBC Centura and Wachovia - and environmental leaders to discuss the ways that global climate change affects business. The event coincided with the worldwide launch of the latest report produced by the Carbon Disclosure Project (CDP), a coalition of global investors - including Moore - that seeks information from the world's largest companies on the business risks and opportunities presented by climate change.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9242007_3551_CDPRelease.pdf

Moore, National Coalition Call For Full Corporate Climate Risk Disclosure

Thu, 20 Sep 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore joined a broad coalition of investors, state officials and environmental groups yesterday in filing a landmark petition asking the Securities and Exchange Commission (SEC) to require publicly-traded companies to assess and fully disclose their financial risks from climate change. The 22 petitioners, which include leading institutional investors and represent more than $1.5 trillion in assets, called on the SEC to state formally that the risks and opportunities posed by climate change are material to shareholder decisions and must be disclosed under existing law.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9192007_366_CeresRelease3.pdf

Treasurer Moore Awards $200 Million In Certificates of Participation

Tue, 18 Sep 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded $200 million in Certificates of Participation (COPs) for capital improvement projects on September 13th through the competitive sale process. The COPs were awarded to Merrill Lynch & Co., who submitted the most favorable of the six bids received with a true interest cost of 4.412 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9172007_3623_SeptemberCOPsSale.pdf

Moore Demands Answers From Countrywide

Fri, 14 Sep 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore sent a stern letter to embattled mortgage company Countrywide Financial today, calling for an explanation of the company's dubious loan practices. Countrywide's marketing and approval processes have been exposed as some of the most irresponsible in the industry and are at the heart of the subprime meltdown shaking the financial markets.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9132007_3641_Countrywide.pdf

Moore Talks Tough on Mortgage Companies,Their Role in Subprime Crisis [video]

Thu, 06 Sep 2007 00:00:00 GMT

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Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/952007_370_SquawkBox9507.wmv

N.C. Treasurer Backs New Slate At H&R Block

Thu, 30 Aug 2007 00:00:00 GMT

RALEIGH -North Carolina State Treasurer Richard Moore announced today that the North Carolina Retirement Systems (NCRS) will support a bid by Richard Breeden to unseat three incumbent directors at H&R Block, citing Breeden's commitment to improved performance and governance. NCRS will oppose incumbents Donna Ecton, Louis Smith and Rayford Williams Jr. and support the dissident slate of Breeden, Robert A. Gerard and L. Edward Shaw. As of July 31, NCRS owns approximately 300,000 shares of H&R Block worth nearly $6 million.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/8292007_3845_HRBlock.pdf

Moore Encourages Parents, Students to Test Money Smarts

Wed, 15 Aug 2007 00:00:00 GMT

RALEIGH - To help North Carolina's students gain the financial tools they need to succeed, State Treasurer Richard Moore today urged parents and their children to take a financial literacy quiz available online at www.nctreasurer.com. The online quiz contains the same material as the statewide financial literacy test where North Carolina students scored less than 50 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/8142007_3859_SkillSetOnline.pdf

Moore Announces 15 Percent Return For Pension Fund

Sat, 04 Aug 2007 00:00:00 GMT

RALEIGH -State Treasurer Richard Moore announced today a 14.8 percent return for the North Carolina Retirement Systems for the fiscal year ending June 30, 2007, well over the pension fund's benchmark of 7.25 percent. The pension fund's solid performance is the result of changes Moore has made to modernize the fund, coupled with a conservative investment strategy designed to protect retirees' benefits over the long term. Moore's work to modernize the pension fund has added approximately $6.5 billion to the fund since the beginning of his term.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/832007_3923_PensionFundReturns2.pdf

Moore Calls For Cap On Non-Voted Debt

Tue, 31 Jul 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore will ask legislative leaders to limit the amount of non-voted debt in future General Assembly budget deals. The current proposed budget includes nearly $670 million in debt projects to be funded through Certificates of Participation (COPs), also known as non-voted debt because the projects bypass voter approval.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/7302007_3940_Budget.pdf

Treasurer Moore Praises Divestment Legislation

Tue, 31 Jul 2007 00:00:00 GMT

RALEIGH- State Treasurer Richard Moore today praised legislation to formalize the pension fund's divestment from companies with business ties to the government of Sudan, a process that Moore began last November when he divested of nine companies. The legislation, HB 291, was approved today by the Senate Finance Committee and now moves to the Senate for approval.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/7302007_3959_SudanDivestmentLegislation.pdf

Following CVS Resignation, N.C. Treasurer Calls For Full Investigation

Wed, 04 Jul 2007 00:00:00 GMT

RALEIGH - Following the retirement of embattled CVS Caremark Corp. director Roger Headrick, North Carolina Treasurer Richard Moore today hailed the move as a victory for shareholders and called for a full investigation into the actions of Mr. Headrick and other board members involved in the CVS/Caremark merger negotiations and the possible backdating of stock options. CVS Caremark announced yesterday that Headrick, who had been the target of numerous investor groups, had retired from the Board of Directors, effective immediately. With lingering questions about Headrick's involvement in the merger, his failure to pursue the interests of shareholders during takeover negotiations and his role in the Caremark board's approval of suspiciously timed options, Moore said his retirement was not enough.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/732007_4012_HeadrickResignation.pdf

On Eve of Capitol Hill Hearing, N.C. Treasurer Calls for End to Broker Votes

Thu, 28 Jun 2007 00:00:00 GMT

RALEIGH - With an important Capitol Hill hearing on investor protection just a day away, North Carolina State Treasurer Richard Moore today called on the Securities and Exchange Commission (SEC) to eliminate broker votes in director elections. Currently brokers are allowed to cast votes on behalf of uninstructed client shares, typically siding with management and supporting their nominees. Moore used the example of CVS/Caremark, where broker votes provided the margin of victory for one embattled director, to illustrate the need for reform.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/6272007_4044_BrokerVotes.pdf

On Eve of Capitol Hill Hearing, N.C. Treasurer Calls for End to Broker Votes - Response from CVS

Thu, 28 Jun 2007 00:00:00 GMT

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Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/6272007_411_ResponsefromCVS.pdf

Moore Warns Legislators About Fiscal Responsibilities

Tue, 12 Jun 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore sent a letter today to budget conferees in the state House and Senate reminding them of important fiscal responsibilities. Moore urged conferees to heed the $384 million per year debt limit he announced earlier this year, and he warned that the increasing reliance on special indebtedness, or Certificates of Participation (COPs), is not only costing taxpayers more, but it is out of line with the intentions established in the state's Constitution. In the letter, Moore, who manages North Carolina's $75 billion pension fund, also reminded legislators of their commitment to include in this budget the final $45 million due to the pension fund from $225 million diverted in 2001.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/6112007_4119_BudgetLetter.pdf

Moore Urges Fiscal Responsibility In State Budget

Sat, 02 Jun 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore today called on members of the state House of Representatives to reject the state Senate's budget when the General Assembly reconvenes next week. The Senate budget included only a $10 million repayment to the North Carolina Retirement Systems, while $45 million is still owed to retirees from the 2001 diversion of retirement funds. The Senate also proposes new state borrowing of $1.2 billion without a vote of the people, which could ultimately jeopardize North Carolina's triple A credit rating.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/612007_4244_SenateBudget.pdf

NC Students Score Under 50 Percent On Financial Literacy Test

Fri, 11 May 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that North Carolina students scored an average of 47.7 percent - less than half the questions answered correctly - on a statewide test of financial knowledge and skills. Moore released the students' scores and complete results from $kill $et, the statewide financial literacy survey to measure North Carolina students' knowledge of saving, credit, debt and other financial issues.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5102007_4320_FinancialLiteracySurveyResults.pdf

Moore Joins Investor Coalition Withholding Votes For CVS/Caremark Director Nominees

Tue, 08 May 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that the North Carolina Retirement Systems (NCRS) will join a national investor coalition withholding votes for two CVS/Caremark director nominees because of their failure, as members of the Caremark board, to protect shareholders during takeover negotiations with CVS and their roles in the Caremark board's approval of suspiciously timed options. NCRS, which owns more than 1.5 million shares of CVS/Caremark, will withhold votes for nominees Roger Headrick and Lance Piccolo at the company's annual meeting on May 9, 2007. The national withhold campaign has been spearheaded by CtW Investment Group and has been joined by a number of public pension funds and supported by independent proxy voting services.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/572007_4334_CVSCaremark.pdf

Moore Calls On Council of State To Take A Stand On OLF

Wed, 02 May 2007 00:00:00 GMT

RALEIGH - With the Navy asserting its continued preference for a controversial site in Washington County for an outlying landing field (OLF), State Treasurer Richard Moore today called on the Council of State to oppose the site. At today's Council of State meeting, Moore proposed a resolution opposing the so-called "Site C."

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/512007_4347_OLF.pdf

Moore Saves Taxpayers More Than $3 Million with Bond Sale

Thu, 19 Apr 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded $84,385,000 of General Obligation Refunding Bonds yesterday. The refunding will save the State - and taxpayers - approximately $3,265,000 on a net present value basis. Much like a personal mortgage, bonds sold to pay for government projects can be refinanced at lower interest rates. The new issue refunded bonds originally issued in 2005 to pay for Higher Education (University and Community College) projects and Clean Water projects.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/4182007_442_AprilBondRefunding.pdf

Moore Joins Investors Managing $4 Trillion in Call for Climate Policy Action

Tue, 20 Mar 2007 00:00:00 GMT

For the first time, dozens of institutional investors, including State Treasurer Richard Moore today called on U.S. lawmakers to enact strong federal legislation to curb the pollution causing global climate change. Joined by 10 leading U.S. companies, the investor group outlined the business and economic rationale for climate action as they called for a national policy that reduces greenhouse gas emissions consistent with targets scientists say are needed to avoid the dangerous impacts of global warming.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/3192007_4425_CeresRelease2.pdf

Public Funds Calls for Support of Landmark Shareholder Access to the Proxy at Hewlett-Packard

Wed, 14 Mar 2007 00:00:00 GMT

Washington, D.C. - A group of the nation's largest public pension funds today called on shareholders to support a landmark proposal at Hewlett-Packard's ("HP") annual shareholder meeting on March 14, in Santa Clara, Calif., seeking access to the proxy allowing shareholder-nominated candidates to run for seats on HP's board of directors.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/3132007_4441_HewlettPackardPreMeetingReleaseFinal.pdf

Moore Leads Study Of Students' Financial Literacy

Tue, 06 Mar 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore today announced the start of a statewide financial literacy survey to measurer North Carolina students' knowledge of saving, credit, debt and other financial issues. $kill $et, a random stratified survey developed in partnership with the Department of Public Instruction, will be administered over the next week to seventh graders at 21 schools across the state. The results of the online survey, which will be available in April, will provide the most in-depth analysis ever of North Carolina students' financial literacy.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/352007_4458_FinancialLiteracySurvey.pdf

S&P Ranks N.C. Pension Fund Second In Nation

Thu, 01 Mar 2007 00:00:00 GMT

RALEIGH - North Carolina's pension fund is the second strongest in the nation, according to a report issued today by Standard & Poor's and covered in The Wall Street Journal. The fund, managed by State Treasurer Richard Moore, is one of only five in the nation with a positive funding ratio - the necessary resources to cover promised benefits. North Carolina's pension fund has a funding ratio of 106.5 percent, compared to a national average of 81.8 percent. Since 2000, the national average has dropped from just over 100 percent to around 82 percent, while North Carolina has retained its strong funding status.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/2282007_4517_WSJ.pdf

State Treasurer Richard Moore Awards $500 Million in Bonds

Wed, 14 Feb 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded $502,745,000 State of North Carolina General Obligation Bonds for university, community college and clean water purposes today. The bonds were awarded to Citigroup Global Markets Inc. who submitted the most favorable of the nine bids received. Citigroup offered a true interest cost of 4.0824 percent.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/2132007_4536_Februarybondsale.pdf

TXU, CHUBB, Wells Fargo Among 10 'Climate Watch' Companies Targeted by Investors

Wed, 14 Feb 2007 00:00:00 GMT

A group of leading US investors today announced the formation of a Climate Watch List, a list of 10 companies that have been identified as lagging behind their industry peers in their responses to climate change. As part of this effort, investors have filed shareholder resolutions with the 10 companies - and 26 other US businesses - aimed at improving their focus and attention to the business risks and opportunities from climate change.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/2132007_2214_CeresRelease.pdf

Moore Releases 2007 Debt Affordability Study

Fri, 02 Feb 2007 00:00:00 GMT

RALEIGH - Today State Treasurer Richard Moore released the 2007 Debt Affordability Study, which analyzes the state's available debt capacity, to Governor Easley and members of the General Assembly. The annual study, issued for the first time by Moore in 2003, serves as a tool for sound debt management and helps to protect North Carolina's strong bond rating.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/212007_4554_2007DebtAffordability.pdf

Treasurer Moore Supports State EITC

Thu, 01 Feb 2007 00:00:00 GMT

RALEIGH - On the eve of National EITC Day, State Treasurer Richard Moore issued the following statement in support of a state Earned Income Tax Credit (EITC). Throughout his tenure as Treasurer, Moore has been active in encouraging North Carolinians to claim their federal EITC and in publicizing the availability of free tax assistance through Volunteer Income Tax Assistance (VITA) and other sites.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1312007_4611_EITCStatement.pdf

Treasurer Moore Cuts Ribbon on 500th House for NC Public Employees

Tue, 30 Jan 2007 00:00:00 GMT

CHARLOTTE - Today State Treasurer Richard Moore cut the ribbon on the 500th house purchased by North Carolina public employees through a unique partnership between the N.C. Housing Finance Agency (NCHFA) and the Department of State Treasurer. The home of Karmen Mills, a psychologist with Cabbarus County Schools, and her 5-month-old daughter marked the completion of "The 500 Project," which assists public employees - teachers, law enforcement officers, state employees and others - in becoming first-time homeowners by utilizing low interest rate mortgage products offered by the NCHFA.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1292007_4623_500Project.pdf

Treasurer Moore Launches Investigation of Tax Loans in North Carolina

Thu, 18 Jan 2007 00:00:00 GMT

RALEIGH - At today's meeting of the State Banking Commission, State Treasurer Richard Moore launched a thorough investigation of the high-cost, short-term loans that tax preparers offer in advance of customers' tax refunds. Moore, chair of the Commission, called for a full report of the marketing and issuance of these loans as well as all possible regulatory options. Advertising and marketing for both refund anticipation loans, or RALs, and the new pay stub RALs have been airing across North Carolina.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1172007_4920_RALS2.pdf

Treasurer Moore Announces States Return to "AAA" Status

Sat, 13 Jan 2007 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that Moody's Investors Service has upgraded the State of North Carolina's general obligation bonds from Aa1 to Aaa with a stable outlook. That change means that North Carolina becomes one of only 7 states to enjoy top-tier rankings from all three of the rating agencies. In making the upgrade, Moody's noted the state's strong financial performance, replenishment of depleted reserves, recent economic gains that surpass national averages, and the state's effective fiscal management.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1122007_4931_Rating.pdf

Treasurer Moore Warns North Carolinians About the Dangers of Tax Loans

Fri, 12 Jan 2007 00:00:00 GMT

RALEIGH - With tax season heating up, State Treasurer Richard Moore today reminded North Carolinians to beware of the loans that tax preparers offer in advance of their tax refunds. Advertising and marketing for both refund anticipation loans, or RALs, and the new pay stub RALs have been airing across North Carolina. RALs are high-cost bank loans secured by the taxpayer's anticipated tax refund, which are then repaid in 7-14 days when the IRS refund arrives. Pay stub RALs are issued in January before taxpayers' receive their W-2s and estimated based on pay stubs.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1112007_4944_RALS1.pdf

Treasurer Moore Reminds North Carolinians to Make Savings a Resolution

Fri, 22 Dec 2006 00:00:00 GMT

RALEIGH - As North Carolinians cross items off their holiday gift lists and prepare to make their New Year's Resolutions, State Treasurer Richard Moore reminds people to include saving in their goals for 2007.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/12212006_503_Resolutions.pdf

Moore Advocates for State Earned Income Tax Credit

Tue, 12 Dec 2006 00:00:00 GMT

RALEIGH - With the General Assembly heading back to work next month, State Treasurer Richard Moore today advocated for the implementation of a state Earned Income Tax Credit (EITC) to help North Carolina's working families. Moore, who was the first statewide elected official to call for an increase in the state's minimum wage, said that the state EITC would build on the success of the minimum wage increase and help more than 700,000 North Carolina families.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/12112006_5017_EITC.pdf

Treasurer Moore Urges Oil Companies to Develop Alternative Energy Sources

Sat, 02 Dec 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore filed a shareholder resolution this week urging oil company ConocoPhillips to invest in developing alternative, renewable energy sources. The resolution aims to encourage ConocoPhillips to help reduce emissions in keeping with the Kyoto Protocol, to invest in the growing market of renewable energy sources and to maintain competitiveness by investing in new technologies. Moore and other institutional investors are supporting the resolution in order to preserve the long-term profitability of the company.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1212006_5037_ConocoPhillips.pdf

Treasurer Moore Divests From Companies Involved in Crisis in Darfur

Thu, 02 Nov 2006 00:00:00 GMT

WINSTON-SALEM - State Treasurer Richard Moore announced today that North Carolina Retirement Systems (NCRS) has divested from nine companies that are providing monetary or military support to the Sudanese government. These companies - Bharat Heavy Electricals, China Petroleum and Chemical Corp., Nam Fatt, Oil & Natural Gas Company, PECD Berhad, PetroChina Company, Sudan Telecom Company, Tatneft OAO and Videocon Industries Limited - have demonstrated little or no interest in changing their activities or helping to improve the welfare of the Sudanese people. The divestment is part of a new policy developed by Moore to bring the pension fund's $70 billion in assets to bear in helping to end the crisis in Darfur and in recognition of the longterm risks posed to companies with ties to the Sudanese government.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/1112006_5059_SudanDivestment.pdf

New Report Shows North Carolina's Retirement System One of the Strongest in the Nation

Fri, 20 Oct 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that North Carolina's retirement system remains one of the strongest in the nation and one of only a handful of plans more than 100 percent funded. The annual financial evaluation of the Teachers' and State Employees' Retirement System (TSERS) places its funding ratio, or its assets divided by its liabilities, at 106.5 percent. TSERS provides retirement benefits for North Carolina's 500,000 working and retired teachers, state law enforcement officers and state employees.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/10192006_5118_RetirementEvaluation.pdf

N.C. Pension Fund Tops List in Governing Magazine

Wed, 18 Oct 2006 00:00:00 GMT

RALEIGH - In the October issue of Governing, the North Carolina Teachers and State Employees Retirement System (TSERS) ranks at the top of the list of state pension funds who are "ready for retirees." The system's 108% funding level put it at the top of Governing's list and makes it one of the strongest state retirement plans in the nation.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/10172006_5130_Governing.pdf

State Treasurer Richard Moore Awards $200 Million in the State's Second Competitive Sale of Certificates of Participation

Fri, 29 Sep 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded approximately $200 million NC Infrastructure Finance Corporation Certificates of Participation (COPs), Series 2006A, for capital improvement projects yesterday in the State's second sale of COPs conducted through the competitive sale process. The COPs were awarded to Banc of America Securities, LLC, who submitted the most favorable of the nine bids received. Banc of America offered a true interest cost of 4.168%.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9282006_5149_COPSSeptemberSale.pdf

With HP Under Fire, Moore Calls for Shareholder Voice

Wed, 27 Sep 2006 00:00:00 GMT

RALEIGH - With a spy scandal rocking Hewlett-Packard Co. and with the company's stock price dropping, State Treasurer Richard Moore joined with a group of the nation's largest public pension funds seeking to allow shareholder-nominated candidates run for seats on HP's board of directors. The group has filed a proposal seeking access to the proxy for candidates nominated by shareholders or groups of shareholders who have owned 3 percent of HP's stock continuously over at least two years.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9262006_523_HP.pdf

Moore Tours State to Promote Entrepreneurship

Sat, 23 Sep 2006 00:00:00 GMT

RALEIGH - Beginning Monday, State Treasurer Richard Moore will tour the state to promote entrepreneurial investment that builds the state's economy. Moore will speak about the importance of venture capital in fostering entrepreneurial growth and will update attendees on the state's involvement in these areas at events in Durham, Greensboro, Charlotte and Wilmington over the next month.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9222006_5228_NCIDEATour.pdf

Smart Start receives State Treasurer's Award for Excellence in Accounting and Financial Management

Fri, 22 Sep 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore has awarded Smart Start the 2005 State Treasurer's Award for Excellence in Accounting and Financial Management for nonprofit organizations. The award was given to recognize Smart Start's leadership in encouraging their local partnerships to assume responsibility for preparation of their own financial statements.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/9212006_5324_SmartStartTreasurersAward.pdf

Representatives from Department of State Treasurer to Attend Mountain State Fair

Sat, 02 Sep 2006 00:00:00 GMT

FLETCHER, NC - Retirement counselors from the North Carolina Department of State Treasurer will attend the N.C. Mountain State Fair to answer retirement questions for working and retired public employees. The counselors also will assist citizens in searching for unclaimed property in the Department's NC Cash database. The representatives will be attending the fair in Fletcher September 8- 10 and 15-17.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/912006_5339_MountainStateFair.pdf

Moore Leads National Effort to End H&R Block's Unfair Loans

Wed, 16 Aug 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore today announced that he is leading a national effort to reform the high-interest, short-term loans marketed by H&R Block to consumers for the maximum amount of their expected federal tax refund. Data suggest that these refund anticipation loans (RALs), which carry annualized rates as high as 700 percent, are targeted toward low-income individuals and recipients of the Earned Income Tax Credit (EITC). In response to a call issued by Moore with New York Comptroller Alan Hevesi and Connecticut Treasurer Denise Nappier, H&R Block has agreed to meet and discuss their practice regarding RALs. The coalition led by Moore represents more than 1.6 million shares of H&R Block and more than $36 million in assets.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/8152006_5353_NCH_RBlock.pdf

LGC Approves First Local School Construction Plan Using Lottery Funds

Wed, 02 Aug 2006 00:00:00 GMT

RALEIGH -- The Local Government Commission (LGC) today approved the first local school construction project that includes North Carolina Education Lottery revenue as a funding source. Randolph County presented the Commission with a plan to issue $42 million of Certificates of Participation (COPs) in order to build a new high school, acquire new property for a future project and renovate an existing elementary school. In their plan, Randolph County projected that approximately 30 percent of the funds needed to service this new school construction debt would come from anticipated local disbursements of North Carolina Education Lottery revenues with the balance of revenues needed for debt service coming from other local revenues.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/812006_548_RandolphSchoolConstruction.pdf

State Treasurer Richard Moore Awards $100 Million in the State's First Competitive Sale of Certificates of Participation

Fri, 28 Jul 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded approximately $100 million NC Infrastructure Finance Corporation Certificates of Participation (COPs) for repair and renovation projects yesterday in the State's first competitive sale of COPs. The certificates were awarded to Merrill Lynch & Company, who submitted the most favorable of nine bids. Merrill Lynch offered a true interest cost of 4.438%.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/7272006_5424_COPSJulySale.pdf

Fitch Upgrades Rating of State's COPs, Special Indebtedness

Sat, 22 Jul 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that Fitch has upgraded the rating on North Carolina's Certificates of Participation (COPs) and other special indebtedness from an AA to an AA+. Fitch said the upgrade reflects the State of North Carolina's centralized oversight of appropriations debt, including COPs, and the strength of the installment/lease agreements.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/7212006_5441_FitchCOPSUpgrade.pdf

Treasurer Moore Comments on Signing of Minimum Wage Increase

Fri, 14 Jul 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore today praised the North Carolina General Assembly for passing a one-dollar increase in the state's minimum wage, which is currently $5.15. Moore called for an increase of at least one dollar in January before the state's business leaders, becoming the first statewide elected official to endorse a minimum wage increase. He then created the "One Dollar More Coalition" - www.onedollarmore.org - to help organize supporters and petition the General Assembly.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/7132006_550_MinimumWageBillSigning.pdf

Treasurer Moore Hails Passage of Minimum Wage Increase

Tue, 11 Jul 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore today praised the North Carolina General Assembly for passing a one-dollar increase in the state's minimum wage, which is currently $5.15. Moore called for an increase of at least one dollar in January before the state's business leaders. Moore has since created the "One Dollar More Coalition" - www.onedollarmore.org - and has spoken to groups around the state about the importance of raising the minimum wage.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/7102006_5516_MinimumWageFinal.pdf

Treasurer Moore Statement on Senate Action on Minimum Wage

Sat, 08 Jul 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore today praised the North Carolina Senate for its preliminary vote in favor of a one-dollar increase in the state's minimum wage, which is currently $5.15. Moore called for an increase of at least one dollar in January before the state's business leaders. Moore has since created the "One Dollar More Coalition" - www.onedollarmore.org - and has spoken to groups around the state about the importance of raising the minimum wage.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/772006_5530_MinimumWageSenateFinal.pdf

North Carolina Becomes First in Nation to Offer Roth 401K to Public Employees

Wed, 21 Jun 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today a new Roth 401(k) option for North Carolina public employees, making the state the first in the nation to offer a Roth option. Available through the NC 401(k) Plan, the new feature combines the characteristics of a traditional retirement savings program with those of a Roth IRA. Teachers, law enforcement officers, firefighters and state and local government employees enrolled in the NC 401(k) Plan can now use the Roth feature to make voluntary after-tax contributions that can be withdrawn at retirement completely tax-free.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/6202006_5545_RothRelease.pdf

Treasurer Moore Honored for Financial Literacy Efforts

Tue, 13 Jun 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore received the Community Financial Literacy Initiative Award last week from Consumer Credit Counseling Service of WNC for his efforts to improve financial literacy and to return unclaimed property to North Carolinians. At the fifth annual Consumer Credit Counseling Service Financial Literacy Luncheon in Asheville, Moore was honored for his work with NC Saves, which partners with banks to encourage saving, and with NC Cash, which has returned millions of dollars in unclaimed property to its rightful owners.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/6122006_577_CCCSAward.pdf

Treasurer Moore to Appear on CBS Evening News

Thu, 01 Jun 2006 00:00:00 GMT

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Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5312006_146_CBSNews.pdf

Treasurer Moore Comments on Exxon Mobile Vote

Thu, 01 Jun 2006 00:00:00 GMT

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Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5312006_5754_ExxonMobilVote.pdf

State Treasurer Richard Moore Takes on Oil Company

Wed, 31 May 2006 00:00:00 GMT

RALEIGH - With Americans having completed one of the costliest weekends ever on the road and at the gas pump, State Treasurer Richard Moore is challenging CEO pay at the nation's oil companies. Moore announced today that the North Carolina Retirement Systems' will withhold its votes for five Exxon Mobil director nominees, all of whom served on the compensation committee over the last five years, at tomorrow's annual meeting. Moore said he hoped the move would be a wake-up call for oil company directors who continue to reward executives for massive profits generated by climbing oil and gas prices.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5302006_588_ExxonRelease.pdf

Enron Statement

Fri, 26 May 2006 00:00:00 GMT

"Today's verdict is the kind of outcome that we have been working so hard for - real results that protect shareholders and employees from corporate greed. Today's verdict is a victory for those of us who believe in fair business practices and standing up for what is right. The fates of Ken Lay and Jeffrey Skilling will cause executives to think twice before they engage in this type of reprehensible behavior."

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5252006_5822_Enron.pdf

Banking Commission Upholds Decision to Shut Down Advance America

Thu, 25 May 2006 00:00:00 GMT

CHARLOTTE - The North Carolina Banking Commission voted today to affirm the recommendation from a specially-appointed appellate panel regarding the appeal of Advance America, which upholds Banking Commissioner Joseph Smith's previous decision that the company violated North Carolina's consumer finance and check casher laws. Commissioner Smith's ruling ordered Advance America to cease operations in North Carolina. State Treasurer Richard Moore, chair of the Banking Commission, called today's vote good news for the people of North Carolina.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5242006_5835_AdvanceAmerica.pdf

State Treasurer Richard Moore Awards $300 Million in Higher Education Bonds

Thu, 25 May 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore awarded approximately $300 million State of North Carolina General Obligation Bonds for higher education purposes today. The bonds were awarded to Citigroup Global Markets, Inc. who submitted the most favorable of the nine bids received. Citigroup offered a true interest cost of 4.243%.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5242006_5856_Maybondsale.pdf

Treasurer Moore Brings Banking Commision to Charlotte

Sat, 20 May 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore will bring the North Carolina Banking Commission's meeting to Charlotte, the state's banking capital, on Wednesday, May 24th. The meeting, which will be held at 9 a.m. at the Country Inn & Suites located at 131 McCullough Drive, will mark the first time in many years that the Commission has met in Charlotte. Moore, the Commission's chair, believed it was important to bring the meeting to Charlotte.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5192006_5910_BankingCommission.pdf

Treasurer Moore, State Leaders Call for Minimum Wage Increase

Tue, 16 May 2006 00:00:00 GMT

RALEIGH - With the General Assembly in full swing, State Treasurer Richard Moore joined leaders from around the state to call for an increase in the state's minimum wage, an issue that continues to gain momentum and that is likely to figure prominently in the short session. Moore brought attention to the issue when he called for a $1 increase in January before business leaders from around the state.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/5152006_5923_JusticeMinimumWage.pdf

Treasurer Moore Comments on Governor's Budget

Wed, 10 May 2006 00:00:00 GMT

RALEIGH -State Treasurer Richard Moore, who manages more than $70 billion in public monies, today commented on the credit rating impact of Governor Easley's budget.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/592006_5941_Budget.pdf

Moore Named to Stock Exchange Regulatory Board

Thu, 06 Apr 2006 00:00:00 GMT

NEW YORK - State Treasurer Richard Moore today was named to the first board of directors for the New York Stock Exchange's regulatory arm, a not-for-profit corporation dedicated to strengthening market integrity and investor protection. Moore was one of five members appointed today and the only public sector member. NYSE Regulation, Inc., protects investors by regulating the activities of member organizations through the enforcement of marketplace rules and federal securities laws.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/452006_5957_NYSERegulation.pdf

April Proclaimed Financial Literacy for Youth Month

Tue, 28 Mar 2006 00:00:00 GMT

Raleigh, N.C. (March 27, 2006) -- State Treasurer Richard Moore, chair of the NC Jump$tart Coalition, announced today that April 2006 has been proclaimed Financial Literacy for Youth Month by Governor Mike F. Easley.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/3272006_014_FinancialLiteracyMonth.pdf

State Treasurer Richard Moore Awards $70 Million in General Obligation Clean Water Bonds

Thu, 16 Mar 2006 00:00:00 GMT

Raleigh - State Treasurer Richard Moore awarded approximately $70 million State of North Carolina General Obligation Bonds for clean water purposes today. The bonds were awarded to Wachovia Bank, National Association who submitted the most favorable of the ten bids submitted. Wachovia Bank offered a true interest cost of 4.0859%.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/3152006_029_Marchbondsale.pdf

State Treasurer Richard Moore to Host WPTF Morning Show

Thu, 02 Mar 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that he will guest host WPTF's morning show on Friday, March 3rd from 5:30 a.m. to 9 a.m. According to host Kevin Miller, this is the first time in the history of the show that a statewide elected official has hosted.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/312006_044_WPTFRelease.pdf

Vance Holloman Named Deputy Treasurer for State and Local Government

Fri, 24 Feb 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore announced today that Vance Holloman has been named Deputy Treasurer and Director of the State and Local Government Finance Division. Holloman has served in the Department for 18 years, most recently as director of the Fiscal Management Section of the State and Local Government Finance Division.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/2232006_13_HollomanRelease.pdf

2006 Debt Affordability Study Released

Fri, 17 Feb 2006 00:00:00 GMT

RALEIGH - State Treasurer Richard Moore today released the 2006 Debt Affordability Study to Gov. Easley and members of the General Assembly. The annual study, issued for the first time by Moore in 2002, is intended to serve as a tool for sound debt management and protection of North Carolina's strong bond rating.

Click the link below to read the complete news:
http://www.nctreasurer.com/DstMCMSWeb/News/Files/2162006_116_2006DebtAffordabilityRelease.pdf