Feb 082014

Loftis1The speaker for the February 5, 2014 meeting of the Rotary Club of Lake Murray-Irmo meeting was Curtis Loftis, South Carolina Treasurer. The State Treasurer’s office provides banking, investment and financial management services for South Carolina State Government.  It also manages the state’s debt and the state’s 529 plans.  Mr. Loftis talked about transparency and accountability.  He also focused on the fees and return on investment associated with the state retirement system.  According to him, the state increased the fees it pays for the pension fund management by 984% in seven years without increasing the return on investment.  He is an advocate of less cost for the pension fund in the future.

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