COLUMBIA, S.C. (AP) — South Carolina Treasurer Curtis Loftis believes financial documents tied to investment decisions of the state's pension portfolio should be reviewed by more people.
He took his case Thursday to the Budget and Control Board, saying he's not comfortable signing off on payments of hundreds of millions of dollars without his experts first reviewing the contracts. The five-member financial oversight panel consists of him, the governor, comptroller general, and the Legislature's chief budget writers.
They voted to hire an attorney to interpret the 2005 state law that created the stateRetirement System Investment Commission, which manages the portfolio, regarding the rolls of the treasurer and commission. They also directed the commission to make recommendations on tweaking the law.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
