Public Employee Pension Plans
South Carolina Ballot Measure - Constitutional Amendment 2a
Election: General Nov. 4, 2008 (General)
Outcome: Failed
Categories:
Entitlements and the Safety NetHealth Insurance
Constitution
Employment and Affirmative Action
Summary
"Post-employment benefits" are benefits, mainly health insurance, provided to eligible state government and school district retirees.
To comply with a change in accounting standards, the state has created trust funds to pay for these post-employment benefits. This amendment relates to how the money in these trust funds may be invested.
A "yes" vote would give the state government the option to invest these funds in equity securities (stocks).
A "no" vote would mean that state government is not allowed to invest these funds in any kind of equity securities (stocks).
Measure Text
Must Section 16, Article X of the Constitution of this State relating to benefits and funding of public employee pension plans in this State and the investments allowed for funds of the various state-operated retirement systems be amended so as to provide that the funds of any trust fund established by law for the funding of post-employment benefits for state employees and public school teachers may be invested and reinvested in equity securities subject to the same limitations on such investments applicable for the funds of the various state-operated retirement systems?
Yes []
No []
Resources
Official Summary
Full Text
Source