South Carolina RS Basics

  • Established 1945
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, South Carolina RS, 2001-2019

Fiscal Year Net Assets (billions)
2001 18.7
2002 18.5
2003 19.8
2004 21.0
2005 21.8
2006 22.3
2007 24.5
2008 23.2
2009 17.8
2010 19.7
2011 22.4
2012 21.5
2013 22.8
2014 25.7
2015 25.1
2016 24.0
2017 25.7
2018 26.4
2019 27.2

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year South Carolina RS US State and Local Pensions
2001 2.6 2.5
2002 2.4 2.4
2003 2.2 2.3
2004 2.0 2.2
2005 1.9 2.1
2006 1.9 2.1
2007 1.9 2.0
2008 1.8 2.0
2009 1.8 1.9
2010 1.7 1.8
2011 1.6 1.7
2012 1.5 1.6
2013 1.4 1.5
2014 1.4 1.5
2015 1.4 1.5
2016 1.4 1.4
2017 1.4 1.4
2018 1.4 1.3
2019 1.4 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for South Carolina RS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 8.2 0.0 5.0 8.2 8.2
2002 8.3 0.0 4.8 8.3 8.3
2003 8.2 0.0 5.7 8.2 8.2
2004 8.3 0.0 7.3 8.3 8.3
2005 8.5 0.0 9.0 8.5 8.5
2006 8.6 0.0 9.3 8.6 8.6
2007 9.1 0.0 10.0 9.1 9.1
2008 10.2 0.0 10.4 10.2 10.2
2009 10.7 0.0 10.2 10.7 10.7
2010 10.5 0.0 10.5 10.5 10.5
2011 10.5 0.0 12.5 10.5 10.5
2012 11.2 0.0 12.9 11.2 11.2
2013 12.8 0.0 13.9 12.8 12.8
2014 12.8 0.0 14.5 12.8 12.8
2015 13.2 0.0 14.9 13.2 13.2
2016 13.1 0.0 14.8 13.1 13.1
2017 13.6 0.0 15.1 13.6 13.6
2018 15.3 0.0 18.1 15.3 15.3
2019 16.6 0.0 18.9 16.6 16.6

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for South Carolina RS, 2001-2019

Fiscal Year South Carolina RS National Data
2001 87.4 106.5
2002 86.0 101.1
2003 82.8 94.2
2004 80.3 93.1
2005 71.6 91.1
2006 69.6 90.5
2007 69.7 91.2
2008 69.3 90.2
2009 67.8 83.2
2010 65.5 81.5
2011 67.4 80.4
2012 64.7 78.9
2013 62.5 78.7
2014 62.7 79.0
2015 62.0 78.2
2016 59.5 76.3
2017 56.3 76.4
2018 55.0 76.5
2019 54.4 76.0

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for South Carolina RS, 2019

Category Percent
Equities 36.3
Fixed Income 10.5
Private Equity 13.6
Real Estate 7.7
Cash 8.8
Other 0.0
Commodities 0.4
Hedge Fund 22.7
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.1
Fixed Income 22.6
Private Equity 9.3
Real Estate 9.1
Cash 1.6
Other 0.0
Commodities 1.9
Hedge Fund 6.8
Misc. Alternatives 1.6

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for South Carolina RS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 22.3 77.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 26.8 73.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 35.2 64.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2004 42.8 57.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2005 41.8 57.0 0.0 0.0 1.2 0.0 0.0 0.0 0.0
2006 49.3 49.7 0.0 0.0 1.0 0.0 0.0 0.0 0.0
2007 50.0 50.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2008 47.9 41.6 1.0 0.0 0.8 0.0 0.0 8.7 0.0
2009 32.8 34.8 2.5 0.6 13.1 0.0 0.0 16.1 0.0
2010 27.3 27.4 4.3 0.6 14.2 0.0 0.0 26.2 0.0
2011 32.4 22.4 7.1 0.8 7.3 0.0 1.9 28.1 0.0
2012 24.3 18.0 9.1 2.5 15.5 0.0 2.7 27.9 0.0
2013 28.3 23.3 9.6 3.7 10.7 0.0 2.7 21.8 0.0
2014 30.8 16.6 14.6 3.6 6.7 0.0 2.1 25.4 0.0
2015 32.3 15.9 14.5 4.0 3.6 0.0 3.0 26.8 0.0
2016 31.7 13.9 15.5 7.1 2.1 0.0 4.2 25.6 0.0
2017 35.1 15.2 13.5 7.2 2.0 5.2 1.4 20.5 0.0
2018 36.3 15.1 13.3 8.5 0.9 7.0 2.0 16.9 0.0
2019 36.3 10.5 13.6 7.7 8.8 0.0 0.4 22.7 0.0

Source: Public Plans Database


Annual Return as of June 30 for South Carolina RS, 2001-2019

Fiscal Year South Carolina RS Assumed return
2001 7.52 7.25
2002 0.93 7.25
2003 8.98 7.25
2004 8.79 7.25
2005 7.03 7.25
2006 5.11 7.25
2007 13.35 7.25
2008 -2.56 8.00
2009 -19.04 8.00
2010 14.62 8.00
2011 18.59 7.50
2012 0.64 7.50
2013 9.99 7.50
2014 15.29 7.50
2015 1.60 7.50
2016 -0.39 7.50
2017 11.88 7.25
2018 7.82 7.25
2019 5.84 7.25

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
South Carolina RS
2001-2019

Fiscal Year Cash Flow Assets
2001 -95.0 18,689.8
2002 -322.9 18,540.3
2003 -435.0 19,770.8
2004 -571.5 20,961.4
2005 -639.8 21,820.5
2006 -705.3 22,251.6
2007 -709.1 24,543.2
2008 -656.2 23,247.1
2009 -676.2 17,817.5
2010 -750.0 19,681.1
2011 -885.1 22,395.0
2012 -968.2 21,536.9
2013 -948.0 22,791.3
2014 -970.4 25,738.5
2015 -981.4 25,131.8
2016 -970.7 23,996.4
2017 -1,055.1 25,732.8
2018 -1,305.2 26,414.9
2019 -675.7 27,238.9

Source: Public Plans Database


Cash Flow as a Percentage of Assets
South Carolina RS
2001-2019

Fiscal Year South Carolina RS National Average
2001 -0.5 -2.3
2002 -1.7 -2.3
2003 -2.2 -2.6
2004 -2.7 -1.7
2005 -2.9 -1.9
2006 -3.2 -1.9
2007 -2.9 -1.7
2008 -2.8 -1.9
2009 -3.8 -2.7
2010 -3.8 -2.9
2011 -4.0 -2.8
2012 -4.5 -3.1
2013 -4.2 -3.0
2014 -3.8 -2.7
2015 -3.9 -2.8
2016 -4.0 -3.0
2017 -4.1 -2.9
2018 -4.9 -2.4
2019 -2.5 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for South Carolina RS benefit descriptions.