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.
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