Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Aip Siop topic
No spam. Unsubscribe anytime.
Retirement System Investment Commission adopts revised investment plan, certifies Sudan-divestment compliance
Summary
The commission voted to adopt revisions to the consolidated Annual Investment Plan and Statement of Investment Objectives and Policies effective July 1, 2025, and certified compliance with the Sudan divestment policy based on indexing implementation; staff were authorized to finalize technical edits.
The Retirement System Investment Commission on Feb. 27 approved revisions to its consolidated Annual Investment Plan (AIP) and Statement of Investment Objectives and Policies (SIOP), setting an effective date of July 1, 2025, and certified that the commission’s implementation approach meets the requirements of the Sudan divestment policy.
The motion, read into the record by Mike, the commission CEO, adopted the recommendation of the CEO and CIO to approve the proposed revisions as set forth in the redline document and authorized staff to ‘‘finalize the AIP/SIOP by making any technical revisions or formatting edits consistent with the action taken by the commission.’’ The motion also included language certifying that, because the commission indexes its public equities, no additional divestment action was required under the Sudan policy as implemented in the portfolio.
Why it matters: The AIP and SIOP set formal policy guidance for asset allocation, permissible strategies and implementation approach for the retirement plan. Changing those documents reflects the commission’s recent five-year asset-allocation exercise and frames how staff will execute strategy going forward.
The motion was moved and seconded and adopted by voice vote; the transcript records the voice vote outcome as ‘‘the eyes have it’’ but does not list a numerical roll-call tally. The commission also voted earlier to proceed into executive session to discuss investment and personnel matters and receive legal advice under cited South Carolina statutes; that executive-session motion was similarly approved by voice vote.
The commission directed staff to finalize technical edits to the documents and to post both clean and redline versions. The approved effective date for the revised AIP and SIOP is July 1, 2025.
The motion as read into the record is part of the meeting minutes and the commission’s staff will follow up with the finalized policy documents and any implementation guidance required to reflect the updated policy framework.
