September 25, 2022

The Nerve

Where Government Gets Exposed

What’s Behind the Unfunded Liability in SC’s Retirement System

A member of the Retirement Ad Hoc Committee highlights some of the causes behind the huge unfunded liability facing the state retirement system.

One of the principal causes of the estimated $17 billion unfunded liability was the change in state law that enabled state employees to begin receiving benefits after 28 years of service, instead of 30, Rep. B. R. Skelton (R-Pickens) says.

https://www.youtube.com/watch?v=tA_RtNK89Ho

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The Nerve