House panel cancels retirement system meeting

COLUMBIA, S.C. (AP) — A House panel has cancelled plans to talk about proposals to fix South Carolina’s pension system for state workers.

The panel was to meet Wednesday to begin shaping a final set of recommendations. The main retirement program for the state’s workers and teachers has a $17 billion gap between investments and long-term pension promises.

Republican Rep. Jim Merrill of Daniel Island is the committee’s chairman and says a final plan is weeks away.

Republican Rep. Mike Pitts of Laurens says the committee should not put more money into a bailout of the system even though state revenues are growing faster than expected.