Tag: SC public pension fund

Budgets - Cuts, Spending and You

More on SC Public Pension Fund

It seems the SC Public Pension Fund can’t help but make news. Unfortunately, most of it is not good.

In a recent article by asset international’s Chief Investment Officer magazine, the New York City and SC public pension funds were highlighted.

Both New York City and South Carolina spent approximately $500 million in fees last year and both are drawing considerable criticism for expending such amounts for public pension fund management.

Senate Panel Investigates Curtis Loftis Pension Complaints

A panel of four senators began hearings last week on the complaints of SC Treasurer Curtis Loftis about the SC Retirement System Investment Commission.

Panel co-chairman Sen. Joel Lourie said he hopes the panel can settle the complaints of the treasurer about what Loftis calls corruption and wasteful spending at the SCRSIC.

Since taking office and becoming a statutory member of the SCRSIC, Loftis has complained about the high fees paid by the commission, the low investment results despite these fees and the perks enjoyed by employees as well as the cloak of secrecy surrounding the decisions the employees make.