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South Carolina's State Retirement System Revamped

Peter Pigeon
Mike Switzer/SC Public Radio
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For many years, South Carolina’s retirement system has been projected to be unable to meet the benefit payments promised to its retirees.  In April of this year, Governor Henry McMaster signed a bill designed to fix that issue. Our next guest says that the impact of this will be felt by all South Carolinians.

Mike Switzer interviews Peter Pigeon, a certified financial planner with Hobbs Group Advisors in Columbia, SC.

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.