The RSIC is governed by eight commissioners; six appointed members, one elected member, and one ex officio member.
By statute, the Governor appoints two members. The State Comptroller General, Senate Finance Committee Chairman, Treasurer, and House Ways and Means Committee Chairman each appoint one member of the Commission. The elected member represents the state retirees and must be unanimously approved by the voting Commissioners. RSIC Commissioners serve staggered four-year terms and have oversight of all system operations, including the annual budget, policy determination, legislative proposals and investment policy.
Rebecca GunnlaugssonPh. D., Chair
Appointed by the Comptroller General
Dr. Rebecca Gunnlaugsson is an economist that specializes in public finance and labor economics. She has extensive experience in business consulting concentrated on strategic planning, project management, and firm-wide technology implementation.
Dr. Rebecca Gunnlaugsson is an economist specializing in public finance with proficiency in statistical data analysis and econometric modeling. She has additional experience in business consulting concentrated on strategic planning, project management, and firm-wide technology implementation.
Dr. Gunnlaugsson has served as the Director of the Division of Research and subsequently Chief Economist at the South Carolina Department of Commerce. In these roles she directed federally funded Department of Labor programs responsible for the development of state and local occupation growth projections, industry cluster analysis, and workforce program evaluation. Additionally, she led research teams conducting economic and fiscal impact analyses of economic issues impacting South Carolina, including state, local, public, and private infrastructure and development projects. She has done extensive research on taxation and optimization for long term economic growth, having testified before the 2010 South Carolina Tax Realignment Commission (TRAC) and the 2017 South Carolina House Tax Policy Review Committee, as well as having served on the 2016 Governor’s Local Government Competitiveness Council.
Her experience also includes that as a senior technology consultant for Accenture where she was involved in firm-wide business and technology implementations for clients which included state governments, state universities, hospitals, and large national corporations. Dr. Gunnlaugsson is currently a principal at Acuitas Economics, where she specializes in statistical analysis and econometric modeling to develop interactive, visual methods to deliver data-driven insights and recommended policy solutions.
Dr. Gunnlaugsson received her Bachelor’s and Master’s Degrees in Mechanical Engineering from the Massachusetts Institute of Technology and her Ph.D. in Economics from the University of Michigan.
Ron WilderPh. D., Vice Chair
Elected by the Commission
Ron Wilder is a Distinguished Professor Emeritus of Economics at the Darla Moore School of Business, University of South Carolina, where he conducted research and taught courses in microeconomics, managerial economics, industrial organization, government and business, and health economics.
He earned a BA and MA in Economics at Rice University, and a Ph.D. in Economics at Vanderbilt University.
During his 36 year tenure at the University of South Carolina, Dr. Wilder taught undergraduate and graduate economics and directed many Master's theses and Ph.D. dissertations. He also taught managerial economics in the MBA program, including the televised PMBA.
His administrative assignments included service as Chairman of the Department of Economics from 1987 until 2002.
Dr. Wilder has published many articles in economics journals, as well as several monographs. He has also completed consulting assignments in areas such as antitrust policy, public utility regulation and valuation of economic losses. His current research interests include health economics, regulation, and financial economics.
Reynolds WilliamsCFP, Commissioner
Appointed by the Chairman of Senate Finance
Mr. Reynolds Williams is a native of Mullins, South Carolina.
After his service in Vietnam he was awarded the Bronze Star and the Combat Infantry Badge.
Mr. Williams graduated cum laude from the Baylor School for Boys in Chattanooga, Tennessee; was a Echols Scholar at the University of Virginia; and earned his Juris Doctor in Law from the University of South Carolina.
Mr. Williams is a recipient of the American Jurisprudence Award in Contract Law and was admitted into all state and federal courts in South Carolina, the United States Court of Appeals for the Fourth Circuit, and the U.S. Supreme Court.
He has served as chairman of several arbitration panels of the National Association of Securities Dealers; the American Arbitration Association; Florence County Election Commission; the Duke Private Adjudication Center; Board of Florence National Bank; and Greater Florence Chamber of Commerce.
He has also served as President of the Florence Rotary Club; on the school board at All Saints; Board of Directors of Community Bankshares; and the Board of Directors of Florence County Progress.
Mr. Williams was a Faculty Seminar Participant at the 1991 U.S. Army War College. He also served as Director of IRIX Pharmaceuticals.
Mr. Williams was the President of the S.C. Chapter of the Federalist Society and is a member of the Defense Research Institute, American Board of Trial Advocates, and South Carolina Defense Trial Attorneys Association.
He has served as Vice-Chairman of the State Board for Technical and Comprehensive Education.
Mr. Williams is recognized in the following books: Leading Lawyers in America, Super Lawyers, and The Best Lawyers in America. In 1999, Governor Beasley awarded Mr. Williams the Order of the Palmetto, South Carolina's highest honor, for his public service, civic responsibility, and friendship to the State. In 2001, he was named Business Person of the Year by the Greater Florence Chamber of Commerce.
The University of South Carolina School of Law recognized Williams as a Compleat Lawyer, for his 30+ years of "exemplary service" to the bar and the public.
A former Certified Financial Planner (CFP®), Mr. Williams was recognized in a Concurrent Resolution of the S.C. House and Senate for his leadership during the Investment Commission's formative years.
Allen GillespieCFA, Commissioner
Appointed by the Chairman of House Ways and Means
Mr. Allen Gillespie, a native of Anderson, South Carolina, is the chief investment officer for FinTrust Investment Advisors and GNI Capital. He has been in the investment industry since 1995, specializing in asset allocation research, manager due diligence, individual security analysis, and custom client portfolio management.
Mr. Allen Gillespie graduated cum laude from Washington & Lee University, earning a bachelor's in Economics. He is also a member of the Omicron Delta Epsilon, Economics Honor Society.
Mr. Gillespie has been recognized as Institutional Investor's 25 Rising Starts of Hedge Funds, a Liberty Fellow, and is an accomplished writer in several financial journals.
He has served as a CFA Institute Research Challenge Mentor to Wofford College and University of Alabama.
Mr. Gillespie holds FINRA Series 4, 7, 24, 53, 63, 65, 86, and 87 licenses.
He serves his community as the Chair of the Endowment Board for Meals on Wheels of Greenville and is a member of the GAMAC Endowment Board.
Edward GiobbeMBA, Commissioner
Appointed by the Governor
Mr. Edward Giobbe is a resident of Aiken, South Carolina. He has 37 years of experience in financial services and a diverse background that includes equities and fixed income in the areas of trading, sales, and investment banking. He was a principal in the Fixed Income Division of Morgan Stanley Inc., in New York from 1978 until his retirement in 1995. Mr. Giobbe served as a member of the City of Aiken Planning Commission and remains active in community affairs.
While working at Morgan Stanley, Mr. Giobbe primarily worked with institutional sales specializing in major financial institutions such as bank trust departments, money managers, mutual funds, insurance companies, and pension funds.
Mr. Giobbe is a retired Captain in the United States Army Reserve, completing active duty in the United States and in Japan. He earned a bachelor's from Yale University and MBA from the New York University Graduate School of Business Administration.
Peggy G. BoykinCPA, Commissioner
Ex officio member
Mrs. Peggy G. Boykin, CPA, is the executive director of the South Carolina Public Employee Benefit Authority (PEBA). Previously she was the director of the South Carolina Retirement Systems and a member of PEBA's Board of Directors. Mrs. Boykin has also served as Director of Special Projects at the College of Charleston.
A native of Wagener, S.C., Mrs. Boykin earned a bachelor's degree in business administration from the College of Charleston in 1981 and her certified public account (CPA) accreditation in 1985. Also, she is a graduate of the Budget and Control Board's Executive Institute and the Governor's Center at Duke University. Mrs. Boykin received her certified retirement administrator designation in 1999.
Mrs. Boykin is an active member of the American Institute of Certified Public Accountants, the South Carolina Association of Public Accountants, the National Council on Teacher Retirement, the National Association of State Retirement Administrators, and the National Association of Government Defined Contribution Administrators.