News from the South - North Carolina News Feed
Improvement planned for investment management of state pension | North Carolina
SUMMARY: North Carolina’s new state treasurer, Brad Briner, aims to improve the state’s underperforming pension funds, currently ranking near the bottom nationally and underfunded by $16 billion. Briner plans to adjust asset allocation from the current 48% in stocks and 52% in cash and fixed income, aspiring to align more closely with national averages of 70% stocks. He emphasizes the need for a thoughtful approach to these changes and considers investments like mortgages to achieve better returns. Additionally, Briner expresses optimism about the state’s healthcare plan potentially covering weight loss drugs as prices decrease.
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News from the South - North Carolina News Feed
Wake Dems select former federal prosecutor to succeed Rep. Joe John in NC House • NC Newsline
SUMMARY: Wake Democrats recommended Phil Rubin to fill the House District 40 seat left vacant by the late Rep. Joe John, who passed away from terminal cancer. Rubin, a former assistant U.S. attorney now at Meta, was selected over two other candidates. He aims to advocate for a more impactful North Carolina, honoring John’s legacy of public service. The party highlighted the district as a Republican target in upcoming elections. Additionally, Safiyah Jackson was appointed to replace Matt Calabria on the Wake County Board of Commissioners after his resignation for a new role. Both selections now await formal appointments.
The post Wake Dems select former federal prosecutor to succeed Rep. Joe John in NC House • NC Newsline appeared first on ncnewsline.com
News from the South - North Carolina News Feed
How a Department of Defense change to moving could affect military service members in North Carolina
SUMMARY: The Department of Defense (DoD) is changing its military relocation process by contracting HomeSafe Alliance for a $17 billion deal, which could significantly affect service members and associated moving companies. The move is intended to modernize and streamline logistics but raises concerns from local movers about potential stress for service members and financial impacts on small businesses. Critics, including the North Carolina Movers Association, worry that the new system may not adequately serve the needs of military families, especially during busy moving seasons. The DoD defends the reform, claiming it will enhance accountability and improve service quality for military moves.
Hundreds of thousands of military service members move every year nationwide. It can be a big undertaking for military families and some worry that a change at the Department of Defense could make the process more stressful. WRAL 5 On Your Side Producer Pritchard Strong explains the change.
News from the South - North Carolina News Feed
Price cap possible as rising energy costs loom | Pennsylvania
SUMMARY: Pennsylvania Governor Josh Shapiro announced that PJM will implement a price cap to reduce anticipated power grid cost increases after a recent auction forecasted an 800% spike. This would have raised utility bills by 30%. The price cap, which must be approved by transmission, generation, and distribution companies and federal regulators, aims to lower costs from $500 to $325 per megawatt day. PJM, which manages power across 13 states, faces challenges in replacing retiring fossil fuel plants with renewable energy sources. Delays in project approvals and supply chain issues are increasing operational costs and complicating the transition.
The post Price cap possible as rising energy costs loom | Pennsylvania appeared first on www.thecentersquare.com
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