News & Updates

Information on the Current Financial Market Situation and Your Retirement Benefits

If you’re like a lot of other Americans, you’re pretty concerned about the current financial markets situation. That’s understandable, and so is concern about the security of your own retirement funds. The benefits provided by the defined benefit plans administered by the South Carolina Retirement Systems, like the South Carolina Retirement System (SCRS) and the Police Officers Retirement System (PORS), are protected and secure. Defined benefit plans have very long-term investment time horizons; so, while the financial markets are currently experiencing significant volatility, the assets of the Retirement Systems are invested in a broadly diversified manner to help mitigate risks. As a member of one of the Retirement Systems’ defined benefit plans, your benefits are protected because they are defined by state statute and are not dependent on an individual account balance or investment returns.