There is a newer version of the South Carolina Code of Laws
2012 South Carolina Code of Laws
Title 9 - Retirement Systems
Chapter 16 - RETIREMENT SYSTEM FUNDS
Section 9-16-60 - Evaluation of fiduciary's compliance with law not to be hindsight; decision-making evaluated in context of whole portfolio.
SC Code § 9-16-60 (2012) What's This?
(A) Compliance by the trustee, commission, or other fiduciary with Sections 9-16-30, 9-16-40, and 9-16-50 must be determined in light of the facts and circumstances existing at the time of the trustee's, commission's, or fiduciary's decision or action and not by hindsight.
(B) The commission's investment and management decisions must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the retirement system.
HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005.
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