North Carolina's pension lost about $4.1 billion in the first three months of 2009.
State Treasurer Janet Cowell said Tuesday that the negative 6.4 percent return, which left the pension fund valued at $55.9 billion, was about average.
About 41 percent of the funds are invested in stocks, another 47 percent in bonds, six percent in real estate and the remainder in other investments.
Cowell asked lawmakers to put $358 million into the system over the next two years to make up the losses, but a projected $3 billion budget deficit makes that unlikely. (WRAL)
The Senate Finance Committee, meantime, gave is approval to a bill that would expand the types of investments Cowell can make for the fund, allowing 10 percent more to go into nontraditional investments.
Cowell said that would reduce risk. (Insider)
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