North Carolina Register of Deeds' Supplemental Pension Fund
| North Carolina Register of Deeds' Supplemental Pension Fund | |
 | |
| Basic facts | |
| Location: | Raleigh, North Carolina |
| Top official: | Dale Folwell, state treasurer |
| Year founded: | 1987 |
| Active members: | 100 |
| Website: | Official website |
| Total assets under management | |
| 2022: | $45,186,118 |
- See also: Public pensions in North Carolina
The North Carolina Register of Deeds' Supplemental Pension Fund is a North Carolina state pension fund that provides supplemental retirement benefits to North Carolina's retired country registers of deeds. The North Carolina Register of Deeds' Supplemental Pension Fund had $45,186,118 ($45.2 million) in total assets under management as of December 31, 2022.[1]
The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.
This article features the following sections:
- Background: Information about the structure and functions of the North Carolina Register of Deeds' Supplemental Pension Fund.
- Pension performance overview: Overview of the funding level and assets managed by the North Carolina Register of Deeds' Supplemental Pension Fund.
- Assets and asset management: Information about the asset management companies (AMCs) that contract with North Carolina Register of Deeds' Supplemental Pension Fund, including a list of contracting AMCs that are participants in the Net Zero Asset Managers Initiative and the Climate Action 100+ initiative.
- Governance and accountability: Details about the North Carolina Register of Deeds' Supplemental Pension Fund's oversight board, including members and selection.
Background
- See also: Public pensions
The North Carolina Register of Deeds' Supplemental Pension Fund, founded in 1987, invests the assets of and provides funding for the retired county registers of deeds in North Carolina. Each county commissioner remits 1.5% of monthly receipts to the state treasurer to fund the Register of Deeds' Supplemental Pension Fund and the administration costs.[2]
The North Carolina Register of Deeds' Supplemental Pension Fund served over 100 active members and approximately 101 retirees and beneficiaries as of February 2024.[2]
Pension performance overview
The following table features information about the funding level and assets managed by the North Carolina Register of Deeds' Supplemental Pension Fund as of December 31, 2022:[1]
| North Carolina Register of Deeds' Supplemental Pension Fund pension performance (December 2022) | |||
|---|---|---|---|
| Fiscal year | Percent funded | Unfunded liabilities | Total market value of assets |
| 2022 | 155.8% | $18,687,617 | $45,186,118 |
Assets and asset management
| Environmental, social, and corporate governance |
|---|
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Asset management companies (AMCs) are hired to manage investment assets for state pension funds across all 50 states.
The Net Zero Asset Managers Initiative (NZAM) suspended operations in January 2025 and relaunched in February 2026 with more than 250 signatories under a revised commitment statement that removed its prior net-zero deadline requirement.[3]
As of October 2024, 391 AMCs were investor participants in the Climate Action 100+ initiative, which aims to align investor engagement with companies toward the goal of net zero greenhouse gas emissions by 2050.[4]
List of AMCs contracting with the North Carolina Retirement Systems (NCRS)
- See also: North Carolina Retirement Systems
The Register of Deeds' Supplemental Pension Fund is a sub-fund within the North Carolina Retirement Systems Division (NCRS). NCRS administers the Register of Deeds' Supplemental Pension Fund, among other retirement and benefit plans for the governmental workers of North Carolina. The Register of Deeds' Supplemental Pension Fund does not contract with its own AMCs; the AMCs for NCRS account for all the pension plans it administers.[5]
NCRS contracted with 445 asset management companies (AMCs) or specific funds as of June 30, 2022. Of those companies, 18 were investor participants in Climate Action 100+, and 22 were members of NZAM, as of 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with NCRS:[6]
Governance and accountability
This section features information about the 13-member board, called the North Carolina Local Governmental Employees' Retirement System (LGERS) Board of Trustees, that oversees the North Carolina Register of Deeds' Supplemental Pension Fund. The board is not specific to oversight of the North Carolina Register of Deeds' Supplemental Pension Fund and exercises oversight duties for other state funds.[7][8]
Board selection method
The board of trustees that oversees the North Carolina Register of Deeds' Supplemental Pension Fund is made up of 13 members, of whom eight represent local governments. Members of the board are appointed by either the governor, the North Carolina Senate president pro tempore, or the North Carolina House of Representatives speaker of the house.[7]
Board of trustees membership
A 13-member board of trustees oversees the operation and administration of North Carolina Register of Deeds' Supplemental Pension Fund. The following individuals served on the board as of February 2024:[7]
- Dale Folwell, chair, state treasurer
- Clee Atkinson
- Lentz Brewer
- Tony Brown
- Homer Dearmin
- Vernon Gamin
- Kevin Gordon
- Brenda Howerton
- Pat Hurley
- Jeff Morse
- Melody Reagan
- Catherine Truitt
- Nancy Vaughn
See also
- Public pensions in North Carolina
- Environmental, social, and corporate governance (ESG)
- Arguments about environmental, social, and corporate governance (ESG)
- Opposition to environmental, social, and corporate governance (ESG) investing
- Reform proposals related to environmental, social, and corporate governance (ESG)
- State legislative approaches opposing ESG investing
- State legislative approaches supporting ESG investing
External links
Footnotes
- ↑ 1.0 1.1 My NC Retirement, "Registers of Deeds’ Supplemental Pension Fund of North Carolina, Principal Results of Actuarial Valuation as of December 31, 2022," February 29, 2024.
- ↑ 2.0 2.1 Justia US Law, "2022 North Carolina General Statutes, Chapter 161 - Register of Deeds, Article 3 - Registers of Deeds' Supplemental Pension Fund Act of 1987. § 161-50.2 - Assets," February 29, 2024.
- ↑ Reuters, "Investor climate group relaunches with looser rules but fewer US members", February 25, 2026
- ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
- ↑ This information is sourced from research performed by Ballotpedia staff.
- ↑ Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
- ↑ 7.0 7.1 7.2 North Carolina Total Retirement Plans, "TSERS & LGERS Boards of Trustees," February 20, 2024.
- ↑ Justia US Law, "NC Gen Stat § 161-50.1 (2022)," February 29, 2024.
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