State thinks it could save $176,000 by cutting bonus

Published November 28, 2008 at 1:37 pm by Ken Hawkins.

Filed in: Politics, News, Business, state budget, South Carolina Treasurer, saving, Converse Chellis, contract, budget cuts, bonus. References: The Post and Courier.

State thinks it could save $176,000 by cutting bonus

Sam Griswold, president of the State Retirees Association of South Carolina, on a $176,500 bonus set to be paid to the man who was responsible for increasing returns on the state’s retirement investments:

I was unaware that was part of his contract, but I am not upset about it as long as he perform. The weight of the retirement system sits on his shoulders.

South Carolina Treasurer Converse Chellis wants to see if that money has to be paid, given the state’s financial crunch.

They could most certainly save $176,500, or they could wind up spending a lot more in court. Sound like thin ice.

Go read all about it at The Post and Courier.