South Carolina Retirement Systems
public plan · State of South Carolina · Columbia, SC
Funding History
What This Means for You
South Carolina Retirement Systems is significantly underfunded at 54%, with $33.7B in unfunded liabilities affecting 595,738 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. Public plans cannot declare bankruptcy, but severe underfunding may lead to reduced cost-of-living adjustments or increased employee contributions. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $39.2B | $72.9B | 53.7% | $2.7B |
| 2024 | $37.0B | $65.2B | 56.8% | $2.7B |
| 2023 | $37.0B | $72.2B | 51.2% | $3.5B |
| 2022 | $33.7B | $71.2B | 47.4% | $2.5B |
| 2021 | $33.5B | $53.4B | 62.7% | $2.3B |
Frequently Asked Questions
South Carolina Retirement Systems is 54% funded, meaning it has 54 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
South Carolina Retirement Systems has 595,738 total participants, including 229,966 active employees and 365,772 retirees currently receiving benefits.
South Carolina Retirement Systems is not covered by the PBGC. Benefits depend entirely on the plan's assets and the sponsor's ability to fund it.
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.