COLUMBIA, S.C. -- A retired University of South Carolina economics professor is the newest member of the board that invests South Carolina’s $27 billion pension portfolio.

The Retirement System Investment Commission unanimously chose Ronald Wilder to replace outgoing commissioner Travis Pritchett.

Wilder joined USC’s economics department in 1970. His 36 years there included 15 as the department chairman. The Texas native holds a doctorate’s degree in economics from Vanderbilt University.

The board voted following an executive session Thursday. The other candidate was Dudley Blair, former director of Clemson University’s MBA program.

Pritchett has held the seat that represents state retirees since the board’s creation in 2005. State law requires the seat be filled with a unanimous vote by the commission’s six voting members.

Pritchett was former chairman of USC’s finance department.