Treasurer Loftis' Statement After Attorney General Confirms No Inappropriate Actions At Investment Commission

Friday, April 6, 2012

(Columbia, SC) – State Treasurer Curtis Loftis issued the following statement in response to a political effort to halt the Treasurer’s work to bring more transparency and accountability to the state pension plan:

“Today’s release is a major victory for transparency and accountability, the state taxpayers, public servants and retirees. This effort by my political opponents to inject the legal process into a political battle over how public funds are invested was shameful.

“When I began asking questions about the pension funds’ fees and expenses, I was denied important information. My political opponents tried to have me, the only elected official on the pension oversight commission, removed, but that effort was soundly defeated in a 34 to 10 vote in the State Senate. Their scheme to involve the state’s legal system in an effort to halt my demands has now been laid to rest even though their scheme has cost me more than $10,000 in personal funds for legal representation.

“The oath of office requires that I serve the people of South Carolina first and worry about my personal political wellbeing last. Political roadblocks will persist as long as I fight for financial transparency and accountability for public money whether at the pension fund, Department of Transportation or any other state agency. These roadblocks will not stand in the way of my efforts for transparency and accountability.”

CLICK HERE to view the letter from the South Carolina Attorney General’s Office which confirms “there was no activity which warrants action” by the Attorney General’s Office.

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Interim Media Contact:
Edward Frazier
edward.frazier@sto.sc.gov
803.734.2016

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