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Bill Number: 4483 Ratification Number: 557 Act Number 466 Introducing Body: House Subject: Monthly retirement allowance provided
(A466, R557, H4483)
AN ACT TO AMEND SECTION 9-8-60, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO RETIREMENT, RETIREMENT ALLOWANCE, DISABILITY RETIREMENT, AND BENEFICIARIES CONCERNING JUDGES AND SOLICITORS, SO AS TO PROVIDE FOR A MONTHLY RETIREMENT ALLOWANCE FOR A MEMBER OF THE RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS WHO RETIRES AFTER JUNE 30, 1990, AND WHO HAS COMPLETED AT LEAST TWENTY-FIVE YEARS OF CREDITED SERVICE; AND TO AMEND SECTION 9-8-120, RELATING TO THE PROVISION THAT NO JUSTICE OR JUDGE, WHILE DRAWING RETIREMENT COMPENSATION, MAY ENGAGE IN THE PRACTICE OF LAW UNDER CERTAIN CONDITIONS, SO AS TO DELETE THIS PROHIBITION AND PROVIDE THAT A JUSTICE OR JUDGE DRAWING RETIREMENT COMPENSATION WHO ENGAGES IN THE PRACTICE OF LAW MAY NOT SERVE AS A JUSTICE OR JUDGE IN ANY COURT IN THIS STATE.
Be it enacted by the General Assembly of the State of South Carolina:
Monthly retirement allowance provided
SECTION 1. Section 9-8-60 of the 1976 Code, as last amended by Section 60D, Part II, Act 189 of 1989, is further amended by adding:
"(5) A member who retires after June 30, 1990, and who has completed at least twenty-five years of credited service shall receive a monthly retirement allowance which must be equal to one-twelfth of seventy-one and three-tenths percent of the current active salary of the respective position plus one-twelfth of two and sixty-seven hundredths percent of the current active salary of the respective position for each additional year of active service over twenty-five. The monthly retirement allowance may not exceed one-twelfth of ninety percent of the current active salary of the respective position."
Retired justice, judge; practice of law; service as justice, judge
SECTION 2. Section 9-8-120(4) of the 1976 Code is amended to read:
"(4) A justice or judge drawing retirement compensation who engages in the practice of law may not serve as a justice or judge in any court in this State."
SECTION 3. This act takes effect upon approval by the Governor.
Approved the 7th day of May, 1990.