(Doc Name H:\LEGWORK\HOUSE\AMEND\COUNCIL\BBM\10120HTC11.DOCX):
Amend the bill, as and if amended, Part IB, page 462, after line 31, by inserting:
/ SECTION 77 - RETIREMENT SYSTEM INVESTMENT COMMISSION:
77.1 (RSIC: Suspended) The Retirement System Investment
Commission established pursuant to Section 9-16-315 of the 1976
Code is suspended for the current fiscal year and its functions
are devolved upon the State Treasurer, mutatis matandis. To
assist the State Treasurer in the investment of Retirement
System funds, there is created for the current fiscal year the
Retirement System Investment Advisory Committee chaired by the
State Treasurer, ex officio, and the following individuals or
(1) the Speaker of the House, ex officio;
(2) the House Ways and Means Committee Chair, ex officio;
(3) the House Majority Leader, ex officio;
(4) the president Pro Tempore of the Senate, ex officio;
(5) the Senate Finance Committee Chairman, ex officio;
(6) the Senate majority Leader, ex officio;
(7) the Seniority Minority Leader, ex officio.
A designee appointed by any of these must possess the qualifications required for members of the Retirement System Investment Commission pursuant to Section 9-1-315(E) of the 1976 Code. The Advisory Committee shall meet as the chairman determines and advise the State Treasurer on the investment operations of the State Treasurer on behalf of the South Carolina Retirement Systems. /
Renumber sections to conform.
Amend totals and titles to conform.