COLUMBIA, S.C. (AP) — South Carolina's pension fund investments rebounded in the second half of last year, pushing earnings above 12 percent for 2012 after fees.
The fund is on its way to a successful 2013 and meeting long-term expectations, said Hershel Harper, chief investment officer for the state Retirement System Investment Commission.
"We may finish even better than expected," he said about 2012-13.
The state assumes a 7.5 percent annual return when calculating what it needs to keep the system solvent for decades to come for the more than 225,000 public workers statewide promised a pension.
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