SC Treasurer Curtis Loftis extends the following letter to his South Carolina constituents.
Loftis has been a watchdog and critic of SC pension fund investment since he first assumed the office of Treasurer in January 2011.
While the fight has been difficult, Loftis is making some headway in lowering pension fees paid by the SC Retirement System Investment Commission and raising the investment percentage realized.
The letter from Loftis:
I’m passionate about protecting South Carolina’s money. Actually, it’s your money and the State should manage it with care.
You wouldn’t overpay for a service or accept poor investment returns and neither should the State. Unfortunately, the penalty for the State’s mismanagement of money is that you must pay higher taxes and employee contributions.
I was featured in the financial section of Sunday’s New York Times concerning the best ways to manage and protect your money. Please take a few minutes and give the article a read – it is important to me that you see my efforts on your behalf.
As the custodian of the State’s funds, making sure your money is protected and properly managed is my first priority. It’s what you elected me to do…and I am on it!