State retirement system gap expected to widen

COLUMBIA, S.C. (AP) - Gov. Mark Sanford’s call to pay down state debt with federal stimulus cash could get a boost.
   
Sanford and the board overseeing the state’s retirement system are getting a briefing Wednesday about how the fund is holding up in the face of a meltdown on Wall Street.
   
Sanford said Tuesday he’s been told that the state would need to come up with $23 billion to cover all the pension and health care obligations in the plan. That’s an increase from $20 billion last year.
   
Sanford wants to use a quarter of $2.8 billion in federal stimulus cash flowing to state agencies and programs during the next two years to decrease debt.
   
Meanwhile, legislators are proposing plans to end the stimulus standoff. Camden Sen. Vincent Sheheen will talk about his proposal Wednesday.