NC S215

Modifies G.S. 147-69.2(b) to allow the State Treasurer to invest excess cash funds while protecting previously authorized investments from being required to dispose of holdings due to subsequent changes in market values, ratings, or other qualifications.

Authorizes direct investment by the State Treasurer in equity securities that approximate a nationally recognized market benchmark index, limiting single corporation investments to no more than 1.5% of Retirement Systems' assets and 8% of a corporation's outstanding stock.

Allows limited partnerships, limited liability companies, and other non-publicly traded investment vehicles to be used for equity investments, with a new 10% cap on the market value of Retirement Systems' assets.

Expands subdivision (b)(9) to allow Retirement Systems' assets to be invested in alternative strategies not expressly authorized by other subdivisions, increasing the investment limit from 5% to 10% of Retirement Systems' market value.

Clarifies that inflation-linked bonds, timberlands, commodities, and inflation-protection assets authorized under subdivision (b)(9a) shall not be counted toward percentage limitations in other investment categories.