Current Status Introducing Body:
HouseBill Number: 3171Primary Sponsor: McTeerCommittee Number: 30Type of Legislation: GBSubject: Teachers, retirement systemResiding Body: HouseCurrent Committee: Ways and MeansDate Tabled: Apr 23, 1991Computer Document Number: JIC/5052.HCIntroduced Date: Jan 09, 1991Last History Body: HouseLast History Date: Apr 23, 1991Last History Type: Tabled in CommitteeScope of Legislation: StatewideAll Sponsors: McTeerType of Legislation: General Bill
Bill Body Date Action Description CMN ---- ------ ------------ ------------------------------ --- 3171 House Apr 23, 1991 Tabled in Committee 30 3171 House Jan 09, 1991 Introduced and read first 30 time, referred to CommitteeView additional legislative information at the LPITS web site.
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.