Every four years the State Auditor shall employ a private audit firm to perform a fiduciary audit on the Retirement System Investment Commission. The audit firm must be selected by the State Auditor. A report from the private audit firm must be completed by January 15, 2019, and every four years after that time. Upon completion, the report must be submitted to the Governor, the President of the Senate, the Speaker of the House of Representatives, the Chairman of the Senate Finance Committee, and the Chairman of the House Ways and Means Committee.
HISTORY: 2012 Act No. 278, Pt IV, Subpt 3, Section 64.B, eff July 1, 2012; 2017 Act No. 13 (H.3726), Pt. III, Section 12, eff July 1, 2017; 2019 Act No. 1 (S.2), Section 40, eff January 31, 2019.
Effect of Amendment
2019 Act No. 1, Section 40, in the fourth sentence, substituted "President of the Senate" for "President Pro Tempore of the Senate".
Structure South Carolina Code of Laws
Chapter 16 - Retirement System Funds
Section 9-16-40. Standards for discharge of duty.
Section 9-16-90. Quarterly and annual investment reports; contents.
Section 9-16-100. Restrictions on lobbyists.
Section 9-16-335. Assumed annual rate of return.
Section 9-16-345. Minority and minority-owned business representation.
Section 9-16-360. Standards of conduct for fiduciary or employee of fiduciary.
Section 9-16-380. Audit of Retirement System Investment Commission.