South Carolina Optional Retirement Plan, Columbia, which is part of the $21.9 billion South Carolina Retirement System, hired four firms to provide annuity contracts and investment options: CitiStreet, TIAA-CREF, American General Retirement Services and Aetna Investment Services, said Diane Poston, plan spokeswoman.
The optional plan was established in July by the Legislature to give public school teachers and administrators hired after June 30 the option to invest in a defined contribution plan. Qualified employees have until Dec. 1 to select either the defined benefit or defined contribution plan.
