Signed into LawFiled Mar 5, 2025
Sponsor: Tom Young (R)
Latest Action
Effective date 05/19/26
Jun 5, 2026
Summary
The law lets qualified retiree post‑employment benefits trusts of South Carolina political subdivisions invest in U.S. corporate bonds and similar debt that are rated investment grade by at least two major rating agencies. The investments must be kept separate from other funds, and if a rating falls below investment grade the trust’s governing body must act. This expands investment options for retiree benefit funds while adding oversight requirements.
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