Governor McMaster signs Pension Protection Act for South Carolina

COLUMBIA, S.C. (WOLO)– Governor Henry McMaster signed a bill on Wednesday, Feb. 14, he says will keep politics out of the state retirement system.

According to the governor’s office, the Pension Protection Act ensures all investment decisions are based solely on maximizing the highest rate of return for participants and beneficiaries.

And not based on factors like the environmental, social and cooperative governance movement.

Which was a corporate responsibility initiative launched by the United Nations 20 years ago.

The bill passed both the House and Senate by wide margins.