COLUMBIA, S.C. (AP) -- South Carolina Treasurer Curtis Loftis says he has voted against giving the departing chief investment officer of the state's pension fund an $80,000 payout.
Loftis says in a statement that he does not believe Robert Borden should get 60 days of full pay and benefits in light of his Dec. 2 resignation, which was effective immediately.
Borden, who held the post since 2006, resigned to take a job with a private firm in North Carolina.
Borden has clashed repeatedly with Loftis over salary and expenses, but the five-member Retirement Investment Commission voted to give Borden a 37 percent raise to $485,000 annually to keep him in South Carolina.
Loftis says he and one other member of the commission voted against the $80,000 payout.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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