Friday letters: Loftis right about Retirement System Investment Commission

August 23, 2013 

Loftis

— “Most investors, both institutional (italics mine) and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees.” — Warren Buffett

This quote is on the cover of The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle. It should be required reading for the state’s Retirement System Investment Commission.

The Maryland Tax Study Foundation and the Maryland Public Policy Institute found that last year, South Carolina paid the highest ratio of investment fees of the 35 states examined.

No wonder state Treasurer Curtis Loftis is concerned. This Investment Commission is not serving our best interests. Every South Carolinian and particularly every S.C. retiree should be up in arms.

Katharine Beard

Camden

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