You have probably heard that the mismanaged pension system wants the General Assembly to remove me as their watchdog. They want to remove your advocate. They want the power for themselves. Their pension debt is $25 billion. It is as large as the state budget and the state doesn’t have enough money to pay it.
South Carolina Treasurer Curtis Loftis stated the Joint Committee has entrusted the sole oversight of the pension system to the very agencies that have placed $25 billion dollars of debt on the backs of the hardworking taxpayers and public service employees.
“The pension needs to be a top priority during this session, and it’s good to see legislators realizing that,” said Treasurer Curtis Loftis. “They need to come up with a permanent solution to fix the pension now, before it’s too late.”
Treasurer Curtis Loftis told WIS that the state will keep its promise of the retirement benefits but at a cost. Loftis is not calling for a tax, but said lawmakers may see it as a possible option. He emphasized that the pension crisis is a result of 15 years of mismanagement.
The countdown to Christmas may be over, but Treasurer Curtis Loftis wants you to know that you can still have unclaimed property waiting for you. Treasurer Loftis and WLTX counted down the 25 Names of Christmas throughout the month of December.
The Saluda Charitable Foundation is a faith based Christian humanitarian group dedicated to serving those in need. We are headquartered in Columbia, South Carolina, and have served on four continents.