The Buzz

November 18, 2013

BUZZ: First meeting between rivals on investment commission to be shown live

The Buzz

A blog from The State's political team of Cassie Cope, Jamie Self and Andy Shain. Email tips to thebuzz@thestate.com.

This week's edition of "As the Retirement Investment Commission turns" will be broadcast live on the Internet thanks to ETV.

The commission has resembled a soap opera over the past two years as state Treasurer Curtis Loftis has battled with commissioners about the best way to manage the state's $29 billion retirement fund.

At its last meeting, former COO Darry Oliver resigned in protest after Loftis cussed him out over the telephone. The commission then approved an anti-bullying policy clearly aimed at Loftis. Loftis did not vote on the policy because he stormed out of the meeting before the vote happened.

Loftis has been critical of how the commission manages the fund, particularly in the amount of management fees it has paid -- fees Loftis says are unnecessary.

This week's meeting will be particularly interesting because it will reunite Loftis with former state Sen. Greg Ryberg, who replaced Oliver as chief operating officer. Ryberg and Loftis have been enemies since Ryberg tried to get Loftis kicked off the commission last year.

Monday, Ryberg sent out a news release announcing the the commission's meeting on Thursday will be live-streamed by ETV, with a link available on the commission's website by Thursday morning.

"(The commission) is pleased to offer this heightened level of transparency to its stakeholders and the public at large," Ryberg wrote in the email.

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