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, 2001-2023

Fiscal Year Net Assets (billions)
2001 18.69
2002 18.54
2003 19.77
2004 20.96
2005 21.82
2006 22.25
2007 24.54
2008 23.25
2009 17.82
2010 19.68
2011 22.40
2012 21.54
2013 22.79
2014 25.74
2015 25.13
2016 24.00
2017 25.73
2018 26.41
2019 27.24
2020 26.29
2021 33.49
2022 32.21
2023 34.29

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year South Carolina RS US State and Local Pensions
2001 2.6 2.4
2002 2.4 2.3
2003 2.2 2.2
2004 2.0 2.1
2005 1.9 2.1
2006 1.9 2.0
2007 1.9 2.0
2008 1.8 1.9
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 1.4
2015 1.4 1.4
2016 1.4 1.4
2017 1.4 1.4
2018 1.4 1.3
2019 1.4 1.3
2020 1.4 1.3
2021 1.3 1.2
2022 1.3 1.2
2023 1.3 1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for South Carolina RS, 2001-2023

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 8.2 0.0 5.3 8.2
2002 8.3 0.0 5.2 8.3
2003 8.2 0.0 6.0 8.2
2004 8.3 0.0 7.8 8.3
2005 8.5 0.0 9.6 8.5
2006 8.6 0.0 9.9 8.6
2007 9.1 0.0 10.6 9.1
2008 10.2 0.0 11.0 10.2
2009 10.7 0.0 11.0 10.7
2010 10.5 0.0 11.6 10.5
2011 10.5 0.0 13.4 10.5
2012 11.2 0.0 14.1 11.2
2013 12.8 0.0 15.1 12.8
2014 12.8 0.0 15.7 12.8
2015 13.6 0.0 15.7 13.6
2016 13.8 0.0 15.6 13.8
2017 14.2 0.0 15.5 14.2
2018 16.4 0.0 16.2 16.4
2019 16.8 0.0 16.4 16.8
2020 18.7 0.0 16.8 18.7
2021 18.0 0.0 17.4 18.0
2022 19.9 0.0 18.1 19.9
2023 21.3 0.0 17.4 21.3

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for South Carolina RS, 2001-2023

Fiscal Year South Carolina RS National Data
2001 87.4 101.7
2002 86.0 94.6
2003 82.8 88.8
2004 80.3 87.0
2005 71.6 85.4
2006 69.6 85.2
2007 69.7 86.3
2008 69.3 84.4
2009 67.8 78.4
2010 65.5 75.7
2011 67.4 74.3
2012 64.7 72.3
2013 62.5 71.8
2014 62.7 73.2
2015 62.0 73.2
2016 59.5 71.6
2017 56.3 72.0
2018 55.0 72.4
2019 54.4 72.5
2020 54.1 72.6
2021 55.2 75.8
2022 56.7 76.2
2023 57.9 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for South Carolina RS, 2023

Category Percent
Equities 42.9
Fixed Income 4.6
Private Equity 22.5
Real Estate 11.2
Cash 6.7
Other 0.0
Commodities 0.0
Hedge Fund 12.2
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2023

Category Percent
Equities 42.2
Fixed Income 20.5
Private Equity 14.0
Real Estate 10.5
Cash 1.8
Other 0.1
Commodities 2.7
Hedge Fund 6.6
Misc. Alternatives 1.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for South Carolina RS, 2001-2023

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 30.9 16.6 14.6 3.6 6.7 0.0 2.1 25.5 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 36.4 15.1 13.4 8.5 0.9 7.0 2.0 16.9 0.0
2019 37.3 14.8 13.4 8.9 6.3 0.0 3.0 16.4 0.0
2020 43.0 11.8 13.8 7.8 11.6 0.0 1.1 10.9 0.0
2021 48.9 7.8 18.2 9.6 3.8 0.0 0.0 11.7 0.0
2022 39.6 5.6 23.9 13.4 4.2 0.0 0.0 13.3 0.0
2023 42.9 4.6 22.5 11.2 6.7 0.0 0.0 12.2 0.0

Source: Public Plans Database

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Annual Return as of June 30 for South Carolina RS, 2001-2023

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
2020 -1.58 7.25
2021 28.57 7.00
2022 -0.97 7.00
2023 6.83 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
South Carolina RS
2001-2023

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
2020 -505.2 26,292.4
2021 -569.7 33,490.3
2022 -445.8 32,212.6
2023 -243.3 34,287.0

Source: Public Plans Database

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Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.


Cash Flow as a Percentage of Assets
South Carolina RS
2001-2023

Fiscal Year South Carolina RS National Average
2001 -0.5 -2.0
2002 -1.7 -2.4
2003 -2.2 -2.5
2004 -2.7 -1.8
2005 -2.9 -2.2
2006 -3.2 -2.2
2007 -2.9 -2.0
2008 -2.8 -2.1
2009 -3.8 -3.1
2010 -3.8 -3.2
2011 -4.0 -3.0
2012 -4.5 -3.2
2013 -4.2 -3.1
2014 -3.8 -2.9
2015 -3.9 -2.7
2016 -4.0 -2.9
2017 -4.1 -2.8
2018 -4.9 -2.4
2019 -2.5 -2.4
2020 -1.9 -2.3
2021 -1.7 -2.0
2022 -1.4 -1.9
2023 -0.7 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for South Carolina RS benefit descriptions.