Retirement System Investment Commission- ex officio board member

2025-2026 Bill 814: Retirement System Investment Commission- ex officio board member - South Carolina Legislature Online

South Carolina General Assembly
126th Session, 2025-2026
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S. 814
STATUS INFORMATION
General Bill
Sponsors: Senator Bennett
Document Path: LC-0245HA26.docx
Introduced in the Senate on January 14, 2026
Currently residing in the Senate Committee on
Transportation
Summary: Retirement System Investment Commission- ex officio board member
HISTORY OF LEGISLATIVE ACTIONS

Date

Body

Action Description with journal page number

1/14/2026

Senate

Introduced and read first time (
Senate Journal-page 14
)

1/14/2026

Senate

Referred to Committee on
Transportation
(
Senate Journal-page 14
)

View the latest
legislative information
at the website
VERSIONS OF THIS BILL
01/14/2026

A bill

TO AMEND THE SOUTH
CAROLINA CODE OF LAWS BY AMENDING SECTION
54-3-10
, RELATING TO THE STATE PORTS
AUTHORITY BOARD OF DIRECTORS MEMBERSHIP, SO AS TO ADD THE CHIEF EXECUTIVE
OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION AS AN EX OFFICIO MEMBER
AND TO PERMIT EX OFFICIO MEMBERS TO ATTEND EXECUTIVE SESSION MEETINGS; BY
AMENDING SECTION
54-3-20
, RELATING TO THE STATE PORTS AUTHORITY BOARD OF
DIRECTORS APPOINTMENT AND TERMS OF MEMBERSHIP, SO AS TO EXCLUDE THE CHIEF
EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION FROM
APPOINTMENT BY THE GOVERNOR; BY AMENDING SECTION
54-3-60
, RELATING TO THE STATE
PORTS AUTHORITY BOARD MEMBER QUALIFICATIONS, SO AS TO EXCLUDE THE CHIEF
EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM INVESTMENT COMMISSION; AND BY
AMENDING SECTION
58-31-20
, RELATING TO THE PUBLIC SERVICE AUTHORITY BOARD OF
DIRECTORS, SO AS TO ADD THE CHIEF EXECUTIVE OFFICER OF THE RETIREMENT SYSTEM
INVESTMENT COMMISSION AS AN EX OFFICIO MEMBER.

B
e it enacted by the
General Assembly of the State of South Carolina:

S
ECTION 1.
S
ection
54-3-10
of the S.C. Code is amended to read:

S
ection
54-3-10
.
(
A) There is created the
South Carolina State Ports Authority. The governing body of the authority is a
board of directors consisting of
eleven
twelve
members, nine voting members appointed by the
Governor as provided in Section
54-3-20
, the Secretary of Transportation, or
his designee,
and
the Secretary of Commerce, or his
designee
, and the Chief Executive Officer of the
Retirement System Investment Commission, or his designee
. The voting
members shall be responsible for setting policies and direction for the
authority so that the authority may achieve its mission. The powers and duties
of the authority shall be exercised by the board. The board may delegate to one
or more officers, agents, or employees such powers and duties as it determines
are necessary and proper for the effective, efficient operation of the port.

(
B)
The Secretary of Transportation
,

and
the Secretary of Commerce
, and
the Chief Executive Officer of the Retirement System Investment Commission
:

(
1)
shall serve on the board, ex officio, as nonvoting members;
and

(
2)
are ineligible for election as chairman, vice chairman, secretary, treasurer,
or any other office elected by the board
.
; and

(
3) may only attend meetings or portions
of meetings open to the public. They are not permitted to attend executive
session meetings.

S
ECTION 2.
S
ection
54-3-20
(A) of the S.C. Code is amended to read:

(
A) The members of the board, except for
the Secretary of Transportation
,

and
the Secretary of Commerce,
and
the Chief Executive Officer of the Retirement System Investment Commission
shall
be appointed by the Governor, with the advice and consent of the Senate, for
terms of five years each and until their successors shall have been appointed,
screened, and qualified. In the event of a vacancy, however caused, a successor
shall be appointed in the manner of original appointment for the unexpired
term.

S
ECTION 3.
S
ection
54-3-60
(A) of the S.C. Code is amended to read:

(
A) Each member of the board, except for
the Secretary of Transportation
,

and
the Secretary of Commerce,
and
the Chief Executive Officer of the Retirement System Investment Commission,
or
their designees, must possess a four-year baccalaureate or more advanced degree
from:

(
1)
a recognized institution of higher learning requiring face-to-face contact
between its students and instructors prior to completion of the academic
program;

(
2)
an institution of higher learning that has been accredited by a regional or
national accrediting body; or

(
3)
an institution of higher learning in this State chartered prior to 1962.

S
ECTION 4.
S
ection
58-31-20
(E) of the S.C. Code is amended to
read:

(
E)
(
1) The following shall be nonvoting ex
officio members of the board of directors entitled to attend all meetings of
the Authority board, including any executive sessions, except as set forth
below:

T
he Chairman of
Central Electric Power Cooperative, or his designee,
and
one
member of the Board of Central Electric Power Cooperative chosen by that board
who is not the chairman or his designee
, and the Chief Executive
Officer of the Retirement System Investment Commission, or his designee
.
The ex officio members shall have the same obligations and duties as other
members of the board, except the obligation to vote, and are subject to removal
in the same manner as other board members
except the Chief
Executive Officer of the Retirement System Investment Commission
. An ex
officio member that has otherwise satisfied all obligations and duties owed to
the Public Service Authority shall not be liable for matters directly related
to either the process of voting nor a decision determined by a vote of the
board of directors.

(
2)
The ex officio members
, except the Chief Executive Officer
of the Retirement System Investment Commission,
may be excluded from
executive session where the following matters are being discussed:

(
a)
negotiations incident to proposed contractual arrangements with a customer,
including Central Electric Cooperative, Inc., or receiving legal advice
involving a customer, Central Electric Power Cooperative, Inc., or one of its
members; or

(
b)
discussions regarding generation resources that will not be shared resources
under any wholesale power supply agreement between the Authority and Central
Electric Power Cooperative or receiving legal advice in relation thereto.

U
pon advice of
counsel that a conflict may exist for an ex officio member of the board to
attend an executive session or a portion thereof to discuss matters other than
(a) and (b), the board may exclude, by a majority vote, the ex officio member
from those portions of an executive session for which a conflict may exist.

(
3)
When ex officio members are excluded from executive session, the reason for the
conflict must be stated before the vote is taken and shall be recorded in
official minutes or other records of the meeting. The ex officio member of the
board must be given an opportunity to speak to the conflict and the underlying
issue at the beginning of the executive session. After being provided the
opportunity to speak as provided in this provision, the ex officio member must
leave the room and may not participate in the remainder of the executive
session on the issue giving rise to the conflict. Efforts should be taken to
optimize participation of ex officio members by segmenting executive sessions.

(
4)
Ex officio members
, except the Chief Executive Officer

of the Retirement System Investment Commission,
will
begin serving immediately upon a letter indicating their appointments is
delivered to the board and to the Public Utilities Review Committee but must
meet the qualifications set forth in Section
58-31-20
(C) as verified by the
Public Utilities Review Committee within six months of beginning service as an
ex officio member. Ex officio members
, except the Chief Executive
Officer of the Retirement System Investment Commission,
will be
appointed for two-year terms but may be removed either by the Governor pursuant
to Section
1-3-240
(C)(1)(m) or the Board of Central Electric Power Cooperative.
In the event that the Board of Central Electric Power Cooperative removes the
ex officio member, the Public Service Authority Board of Directors must receive
notice at least sixty days before the ex officio member's successor begins
service on the Public Service Authority Board of Directors. An ex officio
member will not be entitled to receive compensation from the Public Service
Authority for his or her service as an ex officio member and will not be
counted for purposes of determining a quorum.

S
ECTION 5. This act takes effect upon approval
by the Governor.

----XX----

This web page was last updated on January 14, 2026 at 1:55 PM