Bill 1254

                    Current Status

Bill Number:               1254
Ratification Number:       501
Act Number                 430
Introducing Body:          Senate
Subject:                   Deferred Compensation Commission

(A430, R501, S1254)

AN ACT TO AMEND SECTION 8-23-20, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFERRED COMPENSATION COMMISSION, SO AS TO REQUIRE THAT ONE MEMBER MUST BE A RETIRED PUBLIC EMPLOYEE AND DELETE ARCHAIC PROVISIONS.

Be it enacted by the General Assembly of the State of South Carolina:

Commission established

SECTION 1. The first paragraph of Section 8-23-20 of the 1976 Code is amended to read:

"A Deferred Compensation Commission is established consisting of seven members which includes the Director of the South Carolina Retirement System, the Executive Director of the State Employees' Association, and five other public employees to be appointed by the State Budget and Control Board, at least two of whom must be state employees and one must be a retired public employee. The appointed members shall serve for terms of three years and until their successors are appointed and qualify. The Budget and Control Board shall designate the chairman."

Applicability

SECTION 2. The requirement that one member be a retired public employee does not apply until the first vacancy in the commission occurs after the effective date of this act which is not now designated for a state employee.

Time effective

SECTION 3. This act takes effect upon approval by the Governor.

Approved the 25th day of April, 1990.