Highlights of Treasurer's Testimony on SC Pension Fund
January 31, 2012
WATCH: State Treasurer Curtis Loftis testifies before a SC Senate committee regarding transparency and accountability issues with the SC Pension Fund. The $26 billion fund is underperforming compared with its peers and investment expenses have skyrocketed from just $31 million in 2005 to nearly $350 million in 2011. The Treasurer also has concerns about the fund depending on 50% of assets in risky and complicated "alternative" investments. The Treasurer says more transparency and accountability would be a good first step in bringing the system in line.