Question 3a Expands Retirement System Investments (I'll vote yes)
“Must the first sentence of the fourth paragraph of Section 16, Article X of the Constitution of this State relating to the equity securities investments allowed for funds of the various state-operated retirement systems be amended so as to delete the restrictions limiting investments in equity securities to those of American-based corporations registered on an American national exchange as provided in the Securities Exchange Act of 1934 or any successor act, or quoted through the National Association of Securities Dealers Automatic Quotations System or similar service?”
Explanation
If the question is approved, state-operated retirement systems would no longer be limited to investing in registered American-based corporations.
Proposed Explanation
“Currently, South Carolina’s Retirement Systems may invest only in publicly traded stocks and stocks of companies located in the United States. This amendment would allow prudent investing in all stocks as a means of seeking higher profits.”