Current StatusView additional legislative information at the LPITS web site.Bill Number: 311 Ratification Number: 113 Act Number 77 Introducing Body: Senate Subject: South Carolina Police Officers Retirement System
(A77, R113, S311)
AN ACT TO AMEND CHAPTER 11, TITLE 9, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM, BY ADDING SECTION 9-11-55 SO AS TO PROVIDE THAT MEMBERS OF THIS SYSTEM ARE ENTITLED TO CREDIT FOR PRIOR SERVICE FOR WHICH CREDIT MAY BE ESTABLISHED BY MEMBERS OF THE SOUTH CAROLINA RETIREMENT SYSTEM AND TO PROVIDE THE FORMULA FOR PAYMENT FOR THE CREDIT.
Be it enacted by the General Assembly of the State of South Carolina:
Credit established
SECTION 1. Chapter 11, Title 9 of the 1976 Code is amended by adding:
"Section 9-11-55. A member of the South Carolina Police Officers Retirement System may establish additional creditable service for this system for prior nonpolice service which has never been credited under another state retirement system for which a member of the South Carolina Retirement System may establish additional creditable service. The creditable service is established upon payment of a lump-sum contribution equal to ten percent of his annual earnable compensation at the time of payment for each year of prior service and a proportionate part thereof for a fraction of a year but the special lump-sum contribution may not be less than his earnable compensation in any of the three preceding fiscal years."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.