Strategy TREND. A State Treasurer + Attorney General = Pension Calculations are Unconstitutional

The state treasurer: South Carolina State Treasurer Curtis Loftis

The attorney general opinion: The South Carolina State Treasurer asked the state attorney general to opine on whether the methods used to calculate the pension plan are likelu unconstitutional.

What did the State Treasurer do with this Attorney General Opinion? 

• Says the penion liability is actually $24 billion
• Says the Legislature & the SC Public Employee Benefit Authority have hidden the pension liability

What did the Legislature do?

• A joint pension committee recommended that the State Treasurer lose his seat on the joint committee

Post & Courier | S.C. treasurer, armed with attorney general opinion, blasts pension fund management