News and Updates: August 9, 2013
Greenville News: Give clear picture of pension fund
“Simply asking the commission to defend how it handles taxpayer money is not an indictment. It is seeking accountability for an agency that is vital to many state residents and who ultimately should be answering to the people who fund public workers’ pensions, that is, state employees and taxpayers.”
“‘There is simply no correlation between high money-management fees and high investment returns,’ said John J. Walters, co-author and visiting fellow at the Maryland Public Policy Institute. ‘Retired state employees and taxpayers across the country are not getting their money’s worth. They deserve a simpler, more effective investment strategy for their retirement savings.'”
Treasurer Loftis visits Spartanburg Soup Kitchen
“‘I love this work,’ Loftis said. ‘Politics for me is just an extension of service work.'”
Video: Treasurer Loftis volunteers
(Editor’s Note: The above communication is an email from S.C. Treasurer Curtis Loftis which does not necessarily reflect the editorial position of FITSNews.com. To submit your letter, news release, email blast, media advisory or issues statement for publication, click here).
20 comments
The Greenville News makes some good points. I don’t doubt that Mr. Williams will respond with more of his snarky remarks meant to deman Mr. Loftis that sound sort of like, “Pay no attention to the man behind the green curtain…”
The Greenville News makes some good points. I don’t doubt that Mr. Williams will respond with more of his snarky remarks meant to deman Mr. Loftis that sound sort of like, “Pay no attention to the man behind the green curtain…”
Gee where do all the Management Funds go ? Hedge funds ? $22 million paid in 2005?
$344 mil. in 2011?
Doesn’t matter to me but smells BAD.
Gee where do all the Management Funds go ? Hedge funds ? $22 million paid in 2005?
$344 mil. in 2011?
Doesn’t matter to me but smells BAD.
I have watched this brawl from a front row seat. It has been ugly.
Loftis has brought about tremendous change in the Investment Commission and most all of it for good. It is a much better operation than it was than before he appeared on the scene.
It has not been pretty. It has been hard on everyone involved. But the changes would have taken forever had Loftis not been there, or in fact the changes would have never been made.
Please let us know what changes he has brought about. I too have watched the proceedings from a front row seat for the past two years and have seen few if any positive accomplishments. What I have seen is the Treasurer resorting to name calling when the majority of his colleagues do not back his position on a subject.
He is pissing off the status quo/establishment/old boys/old guard. He is doing it in public not behind closed doors and I love it.
I hope he cranks it up till the bastards head for the hills.
I have watched this brawl from a front row seat. It has been ugly.
Loftis has brought about tremendous change in the Investment Commission and most all of it for good. It is a much better operation than it was than before he appeared on the scene.
It has not been pretty. It has been hard on everyone involved. But the changes would have taken forever had Loftis not been there, or in fact the changes would have never been made.
Please let us know what changes he has brought about. I too have watched the proceedings from a front row seat for the past two years and have seen few if any positive accomplishments. What I have seen is the Treasurer resorting to name calling when the majority of his colleagues do not back his position on a subject.
He is pissing off the status quo/establishment/old boys/old guard. He is doing it in public not behind closed doors and I love it.
I hope he cranks it up till the bastards head for the hills.
Loftis has done an excellent job. As a state employee that will retire next year I can tell you I am very pleased with his tough, common sense approach. 33 years in government has shown me that agencies don’t change their bad ways unless forced and Loftis did just that; he forced them to change.
“agencies don’t change their bad ways unless forced”
No truer words have ever bees spoken! It is rare to find a politician, bureaucrat, board or commission that demands change and will do what it takes to get it. Look at DOT, DEW or DSS. No real change only talk and coverups and more tax dollars wasted and rampant inefficiencies. We get promises of reform and they all get jobs, salaries and the run of the place.
Loftis has done an excellent job. As a state employee that will retire next year I can tell you I am very pleased with his tough, common sense approach. 33 years in government has shown me that agencies don’t change their bad ways unless forced and Loftis did just that; he forced them to change.
“agencies don’t change their bad ways unless forced”
No truer words have ever bees spoken! It is rare to find a politician, bureaucrat, board or commission that demands change and will do what it takes to get it. Look at DOT, DEW or DSS. No real change only talk and coverups and more tax dollars wasted and rampant inefficiencies. We get promises of reform and they all get jobs, salaries and the run of the place.
The fees as a percentage of assets under management are not within the range of reasonableness. Either the asset allocation is improper or execution is less than optimal, either way the plan must adjust because the fees will rob “alpha” needed to pay future benefits.
The fees as a percentage of assets under management are not within the range of reasonableness. Either the asset allocation is improper or execution is less than optimal, either way the plan must adjust because the fees will rob “alpha” needed to pay future benefits.
I consistently make more in my IRA than the Commission does.
I consistently make more in my IRA than the Commission does.
Nice photograph.
Nice photograph.