Governor Stein Signs Key Legislative Measures to Modernize North Carolina’s Public Services
Raleigh, NC – In a significant move towards enhancing public services, Governor Josh Stein signed three pivotal measures into law at a ceremony at the governor’s mansion on Friday. The new legislation includes the 2025 State Investment Modernization Act, the Social Work Interstate Licensure Compact, and an expansion of the Law Enforcement Officers Special Separation Allowance.
The 2025 State Investment Modernization Act establishes the North Carolina Investment Authority (NCIA), a new independent agency designed to revamp the state’s investment management system. Overseen by its own board, the NCIA will manage the state’s $129 billion pension fund, which supports retirement, education, and transportation initiatives across North Carolina. State Treasurer Brad Briner championed the legislation, emphasizing its potential to significantly enhance returns on investments – an increase of just 1% could translate to an additional $2 billion annually for the state budget.
Governor Stein noted the importance of diversifying decision-making power in investment strategies, stating it could lead to better outcomes for the retirement system, traditionally governed solely by the state treasurer.
The changes to the Law Enforcement Officers Special Separation Allowance will now allow officers to pause their benefits without forfeiting them, giving them the flexibility to retire on their own terms while continuing their service to communities.
Additionally, the Social Work Interstate Licensure Compact aims to streamline the licensing process for social workers moving to North Carolina from participating states, including Tennessee, Georgia, and Virginia. This initiative seeks to expand access to vital social services, facilitating smoother transitions for professionals in the field.
In addition to these measures, Governor Stein also signed House Bill 477, Senate Bill 248, and Senate Bill 477 into law, each aimed at enhancing various public services in North Carolina.
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