You can’t help but notice in local newspapers across the state they are honoring something called Sunshine Week. The concept is simple, newspapers call attention to issues of government transparency and accountability.
I decided to run for State Treasurer because there was not enough sunlight being put on important financial issues in South Carolina. In the past year, our office has taken a lead to bring about more sunshine by posting a detailed calendar and even travel expenses online for the world to see. We also created the Treasurer’s Transparency Center webpage, which has numerous important public documents.
On this Sunshine Week, I am pleased to report my fellow colleagues on the Retirement Investment Commission have come together to bring positive changes to the management of the state’s $25 billion pension fund. We recently voted to:
- Review all Strategic Partnerships
- Review alternative investments
- Separate key positions of Chief Executive Officer and Chief Investment Officer into two positions, they will report directly to the Investment Commission.
- Re-bid financial and investment consultant contracts
- Comprehensive review of investment staff & executive pay
These changes are important to bringing sunlight and transparency to one of the most vital areas of our financial responsibility to state workers, retirees and taxpayers. While this is Sunshine Week, we vow never to let transparency go dark in the Treasurer’s Office. Thank you for working together to make South Carolina a better state.
Curtis M. Loftis, Jr.
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