NC S558

Allows the State Treasurer to continue honoring previously authorized investments even if market value changes cause them to exceed current percentage limitations on special fund investments.

Establishes quarterly valuation of all investments as of the last date of the most recent fiscal quarter for purposes of calculating percentage-based investment limitations.

Increases investment percentage limits for Retirement Systems in several categories: subdivision (6c) from 5% to 7.5%, subdivision (9a) from 5% to 7.5%, subdivision (9) from 7.5% to 8.75%, and subdivision (8)(b) from 6.5% to 8.5%.

Creates new aggregate cap limiting combined investments in subdivisions (6c), (7), (8)(b), (9), and (9a) to 35% of Retirement Systems' market value, with individual category limits capped at 10%.

Requires quarterly reports listing all fees related to higher-risk investments and describing any increases greater than 3% of prior year-end assets in relation to risk management duties.