Despite continuing efforts to embarrass and silence him, SC Treasurer Curtis Loftis continues to criticize the SCRSIC for poor performance.
Loftis was subjected to allegations in 2011 that he and Mallory Factor were partners in what was called a “pay to play” scheme involving state retirement funds.
Despite the best efforts of members of the SC Retirement System Investment Commission, Gov. Nikki Haley, then state senator Greg Ryberg and others, Loftis was cleared of all allegations by SLED and the SC Attorney General’s office.
Currently, he is facing an Ethics Commission hearing alleging Loftis used his influence as a state constitutional officer to include a business associate and friend as a lawyer in a lawsuit against the Bank of New York Mellon.
I predict these allegations will be found just as baseless.
The good ole boys and their confederates just can’t stand a politician who looks out for the public good first.
And Loftis is not criticizing without reason. The SC retirement system is consistently among the bottom few performers of public pension funds in the nation despite paying hundreds of millions of taxpayer dollars in fees and giving the underperforming staffers at the SCRSIC generous annual bonuses with more taxpayer dollars.