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Indicates Matter Stricken
Indicates New Matter
Indicates Matter Stricken
Indicates New Matter
COMMITTEE REPORT
April 18, 2007
H. 3826
S. Printed 4/18/07--H.
Read the first time March 29, 2007.
To whom was referred a Bill (H. 3826) to amend Section 9-1-580, Code of Laws of South Carolina, 1976, relating to certain personnel in a hospital under the state retirement system having the option, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
DANIEL T. COOPER for Committee.
TO AMEND SECTION 9-1-580, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CERTAIN PERSONNEL IN A HOSPITAL UNDER THE STATE RETIREMENT SYSTEM HAVING THE OPTION OF JOINING THE RETIREMENT SYSTEM, SO AS TO EXTEND THIS OPTION TO PHYSICIANS, TO PROVIDE THAT THIS OPTION IS IRREVOCABLE, AND TO PROVIDE THE METHOD BY WHICH SERVICE CREDIT MUST BE ESTABLISHED FOR A PERSON ENTITLED TO RETIREMENT BENEFITS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 9-1-580 of the 1976 Code is amended to read:
"Section 9-1-580. (A) Any persons employed by a hospital, which is an employer under the system by application, in the capacity of a physician, nursing service personnel, technicians, housekeeping personnel, dietary personnel, and laundry personnel, may elect to become or not become members of the South Carolina Retirement System, if such this option is exercised within thirty days after they enter upon the discharge of their duties. The option provided for in this section is irrevocable.
(B) If for any reason, a determination is made that a person who exercised the option provided for in subsection (A) is entitled to any benefit provided pursuant to this title, the cost to establish service credit must be calculated pursuant to Section 9-1-1140(A). This calculation must be based on the person's current salary or career highest fiscal year salary for any period of time the person was employed in a position that otherwise would have been covered by membership in the system, regardless of whether the person requests to purchase all of the eligible service credit. The calculated cost must be paid solely by the person's employer, the person, or any combination of the these.
(C) For purposes of this section, 'physician' means a person who is licensed to practice medicine or osteopathy in this State in accordance with Chapter 47, Title 40."
SECTION 2. This act takes effect upon approval by the Governor.
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