Mallory Factor released the following statement yesterday regarding the South Carolina State Employee Retirement System.

Like many South Carolinians, I have become increasingly concerned about thefinancial performance of our State employees’ retirement assets. As an experiencedfinancial executive, I wanted to help improve that performance. That is, after all,how I have made my living for over 30 years. I have been successful at it; and I have always, always operated above-board and lawfully.

Sadly, the issues related to financing South Carolina’s retirement system are nowembroiled in politics to a degree that is very unhealthy for the State’s many currentemployees and retirees. Change is always bitterly resisted by those who benefit
from the current system.