Allows qualified retiree post-employment benefit trusts to invest in certain corporate debt issued by U.S. corporations.

This bill amends the South Carolina Code to allow a qualified retiree post-employment benefits trust, maintained for the benefit of political subdivision retirees, to invest in notes, bonds, debentures, or other debt instruments issued by U.S. corporations. The instruments must be rated in general rating categories by at least two nationally recognized credit rating organizations. The act takes effect upon approval by the Governor.

Allows qualified retiree post-employment benefit trusts to invest in certain corporate debt issued by U.S. corporations.

This bill amends the South Carolina Code to allow a qualified retiree post-employment benefits trust, maintained for the benefit of political subdivision retirees, to invest in notes, bonds, debentures, or other debt instruments issued by U.S. corporations. The instruments must be rated in general rating categories by at least two nationally recognized credit rating organizations. The act takes effect upon approval by the Governor.