Treasurer Folwell Will Discuss Strength and Strategy of State Pension Plan Tuesday

FOR IMMEDIATE RELEASE

June 1, 2021

Contact: press@nctreasurer.com

(919) 814-3820

Media Advisory

Treasurer Folwell Will Discuss Strength and Strategy of State Pension Plan Tuesday

Monthly Ask Me Anything Q&A at 11:00 a.m.

(Raleigh, N.C.) – Jon Gray, president, and chief operating officer at BlackStone Group (NYSE: BX), a global investment management company, discussed market developments and trends at an Investment Advisory Committee (IAC) meeting on May 26. State Treasurer Dale R. Folwell, CPA, will offer his response to Gray’s remarks during his monthly “Ask Me Anything” conference call for members of the media on Tuesday, June 1.

Treasurer Folwell chairs the IAC. It is an appointed body created by state legislation to advise the state treasurer on investment strategy and policies for the North Carolina Retirement Systems. It is staffed by Department of State Treasurer (DST) employees. The state pension plan currently has nearly $119 billion in assets under management. BlackStone, which has many retirement system clients representing tens of millions of public workers and others, manages more than $2.5 billion in North Carolina pension assets, making it the plan’s sixth-largest external investment manager.

Gray told IAC members he expects a huge rebound in the economy, fueled by $2 trillion in consumer savings built up during the COVID-19 pandemic, trillions of dollars in federal stimulus money flooding the economy and consumers ready to exchange cabin fever for returning to a more normal life including delayed gatherings and celebrations. But he also predicts inflation will run hotter than many market analysts are predicting, and there will be wage pressure up and down the business chain to lure workers back to their jobs, which will hurt industries with fairly low-profit margins.

Treasurer Folwell also will discuss ongoing efforts by the Local Government Commission to assist local government units beset with financial struggles and aging water and sewer infrastructure. Several local governments have been making steady progress in collaboration with the LGC.

What:   Treasurer Folwell’s June “Ask Me Anything” conference call

When:    Tuesday, June 1 at 11:00 AM

How:      1-877-336-1828

________Access Code: 8129850

RSVP:    Email: press@nctreasurer.com

If you’d like to participate, please RSVP to press@nctreasurer.com to ensure that time is allotted for your questions. Full audio will be made available after the call.

Author: Kayla Wright