I decided to speak up and voice my concern (as a concerned tax payer) that moving to more alternatives will not generate higher returns, but will lead to much higher fees. The vote was close - 14-13 in favor of the bill - and was reported (and tweeted by) Pensions and Investing Magazine.
#PensionPlans North Carolina takes step closer to higher alternative investment limits http://t.co/yupAk4CKL3
— Pensions&Investments (@pensionsnews) July 17, 2013
But all is not lost - I also got to meet some of the Democratic Caucus and (separately) the leader of the Senate - Phil Berger - to express the concerns about these very high fee investments. These products are not a guarantee of higher returns - in fact quite the opposite. Hopefully these folks will be able to stop the passage of this bill.
Anyhow, the legislature session is winding up, so we'll see what happens.