The State Employees Association of North Carolina, which represents tens of thousands of workers, has filed a complaint with the Securities and Exchange Commission over management of the state pension fund.
The union has for years criticized the way State Treasurer Janet Cowell and her predecessor, Richard Moore, both Democrats, have handled the $86 billion pension system.
Under North Carolina law, the state treasurer has the authority to make decisions about pension fund investments, and the SEANC is calling for an investment board to manage the money.
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