Current Status Introducing Body:House Bill Number:3133 Primary Sponsor:McTeer Committee Number:30 Type of Legislation:GB Subject:Teachers, retirement Residing Body:House Current Committee:Ways and Means Computer Document Number:3133 Introduced Date:Jan 08, 1991 Last History Body:House Last History Date:Jan 08, 1991 Last History Type:Introduced and read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:McTeer Whipper Type of Legislation:General Bill
Bill Body Date Action Description CMN
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3133 House Jan 08, 1991 Introduced and read first 30
time, referred to Committee
3133 House Dec 27, 1990 Prefiled, referred to 30
Committee
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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 9-1-1555 SO AS TO ALLOW AN ADJUSTMENT IN THE AVERAGE FINAL COMPENSATION CALCULATION FOR PURPOSES OF THE SOUTH CAROLINA RETIREMENT SYSTEM FOR TEACHERS INELIGIBLE TO RECEIVE STATE MINIMUM SALARY SCHEDULE PAY RAISES BECAUSE OF FAILURE TO MEET THE APPROPRIATE CRITERIA, TO PROVIDE THE METHOD OF DETERMINING THE ADJUSTMENT, AND TO REQUIRE THOSE TEACHERS APPLYING FOR THE ADJUSTMENT TO PAY THE EMPLOYER AND EMPLOYEE CONTRIBUTIONS ON THE AMOUNT OF THE ADJUSTMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 13, Chapter 1, Title 9 of the 1976 Code is amended by adding:
"Section 9-1-1555. For a school teacher who was ineligible to receive pay raises because of the criteria established pursuant to Section 59-20-50(4)(b) during the period for which average final compensation is computed, average final compensation may be recomputed by adding the difference between the teacher's actual salary during the applicable calendar quarters and the amount the teacher would have received in the same period if eligible to receive raises attributable to adjustments in the state minimum salary schedule. This recomputation may be made only if the teacher pays, in a lump sum, both the employer and employee contributions, plus any interest due, on the amounts added to the salary. If the teacher is retired when the payment is made, average final compensation and benefits must be recalculated."
SECTION 2. This act takes effect upon approval by the Governor.