There will be two statewide constitutional amendments for South Carolina voters to decide on Nov. 5.
Amendment No. 1, translated from the legal verbiage, asks if the constitution, which currently allows state retirement system funds to be invested only in American companies traded on the stock exchanges, should be altered to allow the General Assembly to approve additional stock market investments.
We recommend a Yes vote. The more investment options the better. The principle concern of retirement investments should be to maximize pensions for retirees - and if that means putting money into foreign companies from time to time, then so be it.
Amendment No. 2 is akin to Amendment No. 1 except that the proposition concerns a separate retirement system for firefighters operated by a local government. Currently stock market investments are prohibited. The amendment would lift the prohibition.
We recommend a Yes vote. Again, the more investment options the better.