H 3965 Session 111 (1995-1996)
H 3965 General Bill, By Gamble, H. Brown, R.C. Fulmer, H.M. Hallman, Keegan,
Koon and Lanford
A Bill to amend Sections 9-1-1650, 9-8-110, as amended, 9-9-100, as amended,
and 9-11-110, Code of Laws of South Carolina, 1976, relating to payments due
beneficiaries of members of the South Carolina Retirement System, General
Assembly Retirement System, and South Carolina Police Officers Retirement
System, so as to allow an active contributing member to nominate contingent
beneficiaries who, if predeceased by all other beneficiaries, are considered
the beneficiary for purposes of refunds and annuities, if applicable, under
these systems.
04/06/95 House Introduced and read first time HJ-65
04/06/95 House Referred to Committee on Ways and Means HJ-65
A BILL
TO AMEND SECTIONS 9-1-1650, 9-8-110, AS AMENDED,
9-9-100, AS AMENDED, AND 9-11-110, CODE OF LAWS OF
SOUTH CAROLINA, 1976, RELATING TO PAYMENTS DUE
BENEFICIARIES OF MEMBERS OF THE SOUTH CAROLINA
RETIREMENT SYSTEM, GENERAL ASSEMBLY
RETIREMENT SYSTEM, AND SOUTH CAROLINA POLICE
OFFICERS RETIREMENT SYSTEM, SO AS TO ALLOW AN
ACTIVE CONTRIBUTING MEMBER TO NOMINATE
CONTINGENT BENEFICIARIES WHO, IF PREDECEASED BY
ALL OTHER BENEFICIARIES, ARE CONSIDERED THE
BENEFICIARY FOR PURPOSES OF REFUNDS AND
ANNUITIES, IF APPLICABLE, UNDER THESE SYSTEMS.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 9-1-1650 of the 1976 Code is amended by
adding at the end:
"An active contributing member making the nomination
provided under this section also may name contingent beneficiaries
in the same manner that beneficiaries are named. A contingent
beneficiary has no rights under this chapter unless all beneficiaries
nominated by the member have predeceased the member and the
member's death occurs while in service. In this instance, a
contingent beneficiary is considered the member's beneficiary for
purposes of this section and Section 9-1-1660, if applicable."
SECTION 2. Section 9-8-110(1) of the 1976 Code is amended
to read:
"(1) Except as provided in subsections (2) and (3) of this
section, upon the death of any member of the system, a lump sum
amount shall must be paid to such
the persons as he shall have the member
nominated by written designation, filed with the board, otherwise to
his estate. Such This amount shall
must be equal to the amount of his the
member's accumulated contributions. An active
contributing member making the nomination provided under this
section also may name secondary beneficiaries in the same manner
that beneficiaries are named. A secondary beneficiary has no rights
under this chapter unless all beneficiaries nominated by the member
predecease the member and the member's death occurs while in
service. In this instance, a secondary beneficiary is considered the
member's beneficiary for purposes of this section."
SECTION 3. Section 9-9-100(1) of the 1976 Code is amended
to read:
"(1) Upon the death of any a member of
the system, a lump sum amount shall must be paid
to such the person as he shall have the
member nominated by written designation, filed with the board,
otherwise to his the member's estate. Such
This lump sum amount shall must be equal
to the amount of his the member's accumulated
contributions. An active contributing member making the
nomination provided under this item also may name contingent
beneficiaries in the same manner that beneficiaries are named. A
contingent beneficiary has no rights under this chapter unless all
beneficiaries nominated by the member have predeceased the
member and the member's death occurs while in service. In this
instance, a contingent beneficiary is considered the member's
beneficiary for purposes of this item and item (3) of this section, if
applicable."
SECTION 4. Section 9-11-110 of the 1976 Code is amended by
adding at the end:
"(3) An active contributing member making the
nomination provided under subsection (1) of this section also may
name contingent beneficiaries in the same manner that beneficiaries
are named. A contingent beneficiary has no rights under this
chapter unless all beneficiaries nominated by the member have
predeceased the member and the member's death occurs while in
service. In this instance, a contingent beneficiary is considered the
member's beneficiary for purposes of subsection (1) of this section
and Section 9-11-130, if applicable."
SECTION 5. This act takes effect upon approval by the
Governor.
-----XX----- |