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

December 12, 2011

Investigative Reports

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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.