Retirement commission censures SC treasurer - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Retirement commission censures SC treasurer

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COLUMBIA, S.C. (AP) - The board that invests public workers' pension money has censured South Carolina Treasurer Curtis Loftis for what it calls his "false, misleading and deceitful rhetoric" about his fellow commissioners.

Loftis says he will not be silenced and considers the censure a badge of honor.

The 5-1 vote Thursday is the latest in the ongoing feud between the Republican treasurer and the previously low-key board responsible for the state's nearly $27 billion portfolio. Only Loftis voted "no."

The first-term treasurer is the only elected member of the Retirement System Investment Commission. The four-page resolution is an official show of disapproval but does nothing.

Loftis has been highly critical of the commission and is particularly at odds with Chairman Reynolds Williams.

Loftis announced last month he plans to seek a second term.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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