South Carolina Code of Laws
Chapter 16 - Retirement System Funds
Section 9-16-345. Minority and minority-owned business representation.

In hiring and procurement in the implementation and administration of this chapter, and consistent with its duties as fiduciary under this title, the commission shall strive to assure that minorities and minority-owned businesses are represented.
HISTORY: 2005 Act No. 153, Pt IV, Section 3, eff July 1, 2005.

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 9 - Retirement Systems

Chapter 16 - Retirement System Funds

Section 9-16-10. Definitions.

Section 9-16-20. Investment and management authority of commission; holding assets in group trust under Section 401(a)(24) of the Internal Revenue Code.

Section 9-16-30. Delegation of functions by commission; standard of care; agent's duty and submission to jurisdiction.

Section 9-16-40. Standards for discharge of duty.

Section 9-16-50. Investment and management considerations by trustee; diversification; verification of facts; statement of investment objectives and policies.

Section 9-16-55. Investments in companies that in their operations are complicit with the government of Sudan in the Darfur genocide.

Section 9-16-60. Evaluation of fiduciary's compliance with law not to be hindsight; decision-making evaluated in context of whole portfolio.

Section 9-16-70. Liability for breach of duty; insurance by retirement system or fiduciary; disclosure of terms and conditions.

Section 9-16-80. Investment meetings of board or commission as executive sessions exempt from disclosure; records of meetings.

Section 9-16-90. Quarterly and annual investment reports; contents.

Section 9-16-100. Restrictions on lobbyists.

Section 9-16-315. Retirement System Investment Commission; membership; terms; qualifications; chief executive officer; chief investment officer and administrative staff; attorneys; costs and salary.

Section 9-16-320. Adoption of annual investment plan; quarterly review; deliberations in executive session; independent advisors.

Section 9-16-330. Statement of actuarial assumptions and investment objectives; delegation of final authority to invest; components of plan; diversification; verification of investment facts; analysis and recommendations.

Section 9-16-335. Assumed annual rate of return.

Section 9-16-340. Investment of retirement systems assets; annual investment plan; adoption and review.

Section 9-16-345. Minority and minority-owned business representation.

Section 9-16-350. Use of information for self-interest; blind trusts; violations; punishment; provisions cumulative with other laws.

Section 9-16-360. Standards of conduct for fiduciary or employee of fiduciary.

Section 9-16-370. Defense and indemnification of Retirement System Investment Commission members, officers, and management employees.

Section 9-16-380. Audit of Retirement System Investment Commission.

Section 9-16-710. Investment education services.