Tag: Treasurer Curtis Loftis

"Public pensions must be more transparent, accountable." Curtis M. Loftis Jr.

Press Release: Loftis’ Statement on Employee Retirement Rate Hike

Columbia, SC – Today, I voted against a request from PEBA to the State Fiscal Accountability Authority to increase both employee and employer retirement contribution rates to the state pension fund by .5% effective July 1, 2017. The increases are a result of years of mismanagement of the South Carolina pension fund, and now has state and public employees contributing 9.16% of their pay towards future retirement benefits, which is 55% more than the national average. Public employees and taxpayers are going to pay more, when they are guilty of nothing but working hard and trusting their elected officials.

This increase is not going to fix the problem. At this rate, the pension issue is going to continue to grow, until it’s too big to fix. Pension increase should not be measured in money, but by how many teachers, policemen, firefighters, and other public employees are taken off the streets.

Lawmakers have tough choices when it comes to fixing the pension fund problem. They must make the pension system their top priority in January when session starts. The pension is the most significant challenge of our generation.


Curtis M. Loftis Jr. and Chris Christie

What politicians will do for a little ink…

Treasurer Curtis Loftis In Hospital With Chest Pains

Click READ FULL STORY below to wish Treasurer Loftis a speedy recovery.

South Carolina Treasurer Curtis Loftis has checked himself into a hospital after suffering chest pains.

Spokesman Brian DeRoy says Loftis underwent tests Monday and expects to be released on Tuesday. DeRoy says the Republican treasurer has been working long days recently and suspects he suffered from exhaustion.

Loftis’ fight with the commission that oversees retirees’ pension funds in the state led to a lawsuit last month that was quickly settled.

Treasurer Curtis Loftis Delivers Cash Money

Treasurer Curtis Loftis Delivers Cash Money

The South Carolina Office of State Treasurer returned $12.6 million to people during fiscal year 2011 and with one month down already for fiscal year 2013, the office is hard at work finding the owners of unclaimed millions.

The $300 million in unclaimed property typically is in the form of old, unclaimed tax refund checks, inheritances, deposits, insurance payments and bank accounts.

State Treasurer Curtis Loftis Jr., is on a mission to find the owners of that money and occasionally takes his show, the Palmetto Payback Hometown Tour, on the road, such as Tuesday’s stop at Bazen’s Family Restaurant.

“We’ve got a lot of money that belongs here,” Loftis said. “We’ve been doing this for a long time, the treasurer’s office has, but we built up a reserve of $300 million and if we’re going to give that money back to its rightful owners, I’ve got to get out and hit the streets.”

Nikki Haley Ethics Case Won’t Make Difference

B&CB Splits Health Insurance Increases

Two months after the S.C. General Assembly put the entire increase in health insurance premiums for state and local government workers on the backs of South Carolina taxpayers, the S.C. Budget and Control Board voted 3-2 to split the increase between government employees and taxpayers.

Gov. Nikki Haley, Comptroller General Richard Eckstrom and Treasurer Curtis Loftis voted in favor of the split. The B&CB’s two lawmakers, Sen. Hugh Leatherman and Rep. Brian White, voted against it.

The vote of the B&CB will have the effect of increasing government employee premiums approximately $7.25 per month while saving taxpayers approximately $5.8 million.