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Category Archives: State Retirement System
Senator Proposes Pension Changes for Lawmakers
State lawmakers over the years have been quite generous to themselves when it comes to their own pensions, but one legislator wants the General Assembly’s retirement program to look more like what’s offered in the private sector. Sen. Chip Campsen, … Continue reading
What’s Behind the Unfunded Liability in SC’s Retirement System
A member of the Retirement Ad Hoc Committee highlights some of the causes behind the huge unfunded liability facing the state retirement system. One of the principal causes of the estimated $17 billion unfunded liability was the change in state … Continue reading
Paying into the Retirement System but Getting No Benefits
A member of the Retirement Ad Hoc Committee asks about TERI employees who continue working for the state after their benefits end, yet still have to pay into the state retirement system. “I still haven’t gotten an adequate explanation,” says … Continue reading
What Sets the TERI Program Apart
A member of the Retirement Ad Hoc Committee asks about TERI employees who continue working for the state and have to pay into the retirement system even after their benefits have ended. “Do you know of any retirement system anywhere … Continue reading
TERI’s Impact on the Retirement System
Members of the Retirement Ad Hoc Committee discuss the impact of TERI employees on the state retirement system during a Nov. 29 meeting. Among items mentioned was the impact of state employees who take part in the Teacher and Employee … Continue reading
SLED Ripped Off Its Own Retirees, Lawsuit Alleges
The S.C. Law Enforcement Division violated state law for years by taking higher-than-allowed pension deductions from the salaries of working retirees at the agency, a lawsuit pending before the state’s highest court contends. Typically, public agencies contribute a percentage of … Continue reading
Retirement Commission Continues Aggressive Growth Plan
As South Carolina lawmakers struggle with painful choices to shore up funding of the state pension system, the entity that oversees the system’s assets wants to nearly double its operating budget and hire a dozen more personnel. In a meeting … Continue reading
Dozens of S.C. Pensioners Earning Six Figures
As S.C. lawmakers grapple with how to close a recently projected $17 billion gap in the state pension system, 169 state retirees or their beneficiaries earn more than $100,000 annually in retirement benefits, while more than 3,500 individuals in the … Continue reading
State Retirement Costs Eat Bigger Piece of Funding Pie
As a funding gap in the state retirement system has opened up in recent years, the burden of narrowing the gap has been placed disproportionately on South Carolina taxpayers, records from the state comptroller general’s office show. This has resulted … Continue reading
Higher Retirement Tab Costs Taxpayers, Not Employees
A familiar elephant was in the room when the S.C. Budget and Control Board met Tuesday morning in Columbia. Indeed, the elephant is present at many Budget and Control Board meetings. It hangs around the State House, too, when the … Continue reading
Posted in State Retirement System
Tagged Curtis Loftis, Hugh Leatherman, Richard Eckstrom
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