Palmetto State News

As of June 2019, South Carolina had $2.8 million in total cash and investment holdings in its public pension funds, according to the U.S. Census Bureau’s Annual Survey of Public Pensions.

Of that amount, $2.7 million was in state pension funds, and the remaining $6,182 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts, and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

Residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming do not pay state income taxes.

The Census Bureau cautions not all respondents answer all survey questions. Thus, some fields were left blank.

South Carolina reported data from nine pension systems, including four state-level pension funds and five local-level systems. The total number of pension system members was 585,956 (584,996 at the state level and 960 at the local level).