For Immediate Release
Tuesday, 21 December 1999
All South Carolinians and One Quarter Million Civil Servants
Can Sleep Soundly Through Y2K
(Columbia, SC) As the nation and the world holds its breath and scrambles to ready itself for the turn of the century, State Treasurer Grady L. Patterson reassured South Carolinians, today. "We have Y2K-proofed the Treasurer’s Office. The 280,000 members of the $19 billion SC Retirement System – our teachers, law enforcement officers and civil servants – can rest assured that their money is safe," Treasurer Patterson stated. "I also want to emphasize that paychecks to all state employees will be distributed on schedule."
He continued, "And, taxpayer funds that are invested and managed through this office [totaling approximately $5.5 billion at this time] are secure."
Treasurer Patterson’s statement was addressing many concerns South Carolinians have voiced over the past year. "We have replaced outdated equipment, updated hardware and software, and re-written many of the computer programs that must be stable at the turn of the Century. South Carolinians can be proud of our great staff – they have put so much time and effort into weeding out problems and safeguarding the state’s financial security."
As the state’s top banker, South Carolina Treasurer Grady L. Patterson, Jr.’s office is responsible for the state’s investments, debt management, and supervising state-chartered banks.
The Treasurer concluded, "Our state banks, and state government have worked tirelessly to get here. We are ready. This is one less thing to worry about. South Carolinians can have fun with friends and family December 31st, and sleep soundly through Y2K"
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For more information contact:
David A. Adams, 803/734-0380