S*0419(Rat #0304, Act #0297 of 1988)  General Bill, By H.C. Smith
 A Bill to amend Section 9-1-1680, Code of Laws of South Carolina, 1976,
 relating to the exemption from taxation and legal process or assignment of any
 annuity, retirement allowance, return of contribution, any optional benefit,
 or other right accrued to any person under the State Retirement System from
 garnishment, attachment, or any other process, so as to include the same
 retirement benefits of any private retirement system operated by a
 municipality within the provisions of this Section.

   02/19/87  Senate Introduced and read first time SJ-589
   02/19/87  Senate Referred to Committee on Finance SJ-589
   04/08/87  Senate Committee report: Favorable Finance SJ-1205
   04/09/87  Senate Read second time SJ-1741
   04/09/87  Senate Unanimous consent for third reading on next
                     legislative day SJ-1741
   04/10/87  Senate Read third time and sent to House SJ-1268
   04/14/87  House  Introduced and read first time HJ-1856
   04/14/87  House  Referred to Committee on Ways and Means HJ-1857
   01/13/88  House  Committee report: Favorable Ways and Means HJ-330
   01/14/88  House  Read second time HJ-429
   01/14/88  House  Unanimous consent for third reading on next
                     legislative day HJ-431
   01/15/88  House  Read third time and enrolled HJ-352
   01/28/88         Ratified R 304
   02/02/88         Signed By Governor
   02/02/88         Effective date 02/02/88
   02/02/88         Act No. 297
   02/16/88         Copies available

AN ACT TO AMEND SECTION 9-1-1680, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE EXEMPTION FROM TAXATION AND LEGAL PROCESS OR ASSIGNMENT OF ANY ANNUITY, RETIREMENT ALLOWANCE, RETURN OF CONTRIBUTION, ANY OPTIONAL BENEFIT, OR OTHER RIGHT ACCRUED TO ANY PERSON UNDER THE STATE RETIREMENT SYSTEM FROM GARNISHMENT, ATTACHMENT, OR ANY OTHER PROCESS, SO AS TO INCLUDE THE SAME RETIREMENT BENEFITS OF ANY PRIVATE RETIREMENT SYSTEM OPERATED BY A MUNICIPALITY WITHIN THE PROVISIONS OF THIS SECTION.

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

Municipal private retirement system benefits exempt from attachment

SECTION 1. Section 9-1-1680 of the 1976 Code is amended to read:

"Section 9-1-1680. The right of a person to an annuity or a retirement allowance or to the return of contributions, an annuity, or retirement allowance itself, any optional benefit, or any other right accrued or accruing to any person under the provisions of this chapter, and the monies of the System created under the provisions of this chapter or any private retirement system operated by a municipality, are exempted from any state or municipal tax and exempted from levy and sale, garnishment, attachment, or any other process and must be unassignable except as specifically otherwise provided in this chapter."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.