Senators weighing changes to SC investment board
COLUMBIA, S.C. (AP) — The chief operating officer of the agency that invests South Carolina's pension portfolio says legislators need to end hostilities between the agency and state Treasurer Curtis Loftis that are harming the fund.
Former senator Greg Ryberg told a Senate panel Tuesday that Loftis is waging a war against the Retirement System Investment Commission with inaccurate accusations. Loftis countered that his criticisms aimed at protecting taxpayers from fraud, waste and abuse are nothing personal.
Senators on the subcommittee looking into Loftis' accusations say there's little the Legislature can do about personality conflicts. The treasurer is the commission's only publicly elected member.
But the panel may suggest changes to the law creating the commission. Possibilities include adding members and requiring the treasurer to also have financial experience.