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Indicates Matter Stricken
Indicates New Matter
Indicates Matter Stricken
Indicates New Matter
AS PASSED BY THE SENATE
JUNE 5, 2007
H. 3826
S. Printed 6/5/07--S.
Read the first time April 25, 2007.
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.
Amend Title To Conform
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 to 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 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. Chapter 8, Title 9 of the 1976 Code is amended by adding:
"Section 9-8-67. The normal retirement age for the system established pursuant to this chapter is sixty years."
SECTION 3. Section 9-8-60 of the 1976 Code, as last amended by Act 249 of 2004, is further amended by adding a new subsection (7) to read:
"(7)(A) A member who has attained the age of sixty years and is eligible to retire and receive the maximum monthly benefit of one-twelfth of ninety percent of the current active salary of a judge, solicitor, or circuit public defender as provided in subsection (5) may retire and receive a retirement benefit while continuing to serve as judge, solicitor, or circuit public defender until the end of the calendar year in which the member attains the age of seventy-two years. The employee and employer contributions must continue to be paid as if the judge, solicitor, or circuit public defender continuing to serve pursuant to this subsection was an active contributing member, but no additional service credit accrues on account of these contributions. A judge, solicitor, or circuit public defender who retires pursuant to this subsection is not subject to the provisions of Section 9-8-120 unless he has vacated his office.
(B) A member who has not yet reached the age of sixty years, but who is eligible to retire and receive the maximum monthly benefit of one-twelfth of ninety percent of the current active salary of a judge, solicitor, or circuit public defender as provided in subsection (5) may retire and continue to serve as judge, solicitor, or circuit public defender until the end of the calendar year in which the member attains the age of seventy-two years. While a member continues to serve as judge, solicitor, or circuit public defender pursuant to this subsection, the member's normal monthly retirement benefit will be deferred and placed in the system's trust fund on behalf of the member. Upon reaching the age of sixty years, the balance of the member's deferred retirement benefit will be distributed to the member. No interest will be paid on the member's deferred monthly retirement benefit placed in the system's trust fund. The employee and employer contributions must continue to be paid as if the judge, solicitor, or circuit public defender continuing to serve pursuant to this subsection was an active contributing member, but no additional service credit accrues on account of these contributions. A judge, solicitor, or circuit public defender who retires pursuant to this subsection is not subject to the provisions of Section 9-8-120 unless he has vacated his office.
(C) For a member retiring and continuing to serve as judge, solicitor, or circuit public defender pursuant to subsection (7)(B) the additional benefit provided for in subsection (6) will be deferred and placed in the system's trust fund until the member reaches the age of sixty years. Upon reaching the age of sixty years, the additional benefit will be distributed, plus interest, to the member.
(D) For all purposes other than employment, a member retiring and continuing to serve as judge, solicitor, or circuit public defender pursuant to either subsection (7)(A) or (7)(B) is a retired member of the system."
SECTION 4. Section 9-8-125 is amended to read:
"Section 9-8-125. A member of the system who is at least sixty-five two years of age and eligible to receive benefits pursuant to Chapter 9 of this title but for the member's current employment as a judge or solicitor may elect to receive retirement benefits from the Retirement System for members of the General Assembly by written notice to the board."
SECTION 5. This act takes effect upon approval by the Governor.
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