(AP) -- A Senate panel is recommending an additional $9 million for the commission that oversees South Carolina's $25 billion investment fund for public workers' pensions.
A Senate Finance subcommittee on Wednesday unanimously approved the Retirement System Investment Commission's request to spend $19 million next fiscal year. That's up from about $10 million this year.
The House's proposed spending plan for 2012-13 would reduce the commission's budget by nearly $500,000.
But commission vice chairman Reynolds Williams told the panel that the additional money will enable the commission to better evaluate investments. About 85 percent of the extra money would pay for technology upgrades. The request would also add 12 people.
The subcommittee's recommendation goes to the full Senate Finance Committee, which will debate its version of the state budget next week.
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