Current Status Introducing Body:Senate Bill Number:330 Primary Sponsor:Setzler Committee Number:06 Type of Legislation:GB Subject:Police Officers Retirement System Residing Body:Senate Current Committee:Finance Computer Document Number:JIC/5186HC.93 Introduced Date:19930128 Last History Body:Senate Last History Date:19930128 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Setzler Drummond Giese Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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330 Senate 19930128 Introduced, read first time, 06
referred to Committee
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TO AMEND ACT 501 OF 1992, THE GENERAL APPROPRIATIONS ACT FOR FISCAL YEAR 1992-93, SO AS TO INCREASE FROM 10,500 TO 11,000 DOLLARS THE EARNINGS LIMITATION OF RETIREES OF THE SOUTH CAROLINA RETIREMENT SYSTEM AND THE POLICE OFFICERS RETIREMENT SYSTEM WHO RETURN TO COVERED EMPLOYMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Sections 129.55 and 129.56, Part I, Act 501 of 1992, are amended to read:
"129.55 (PORS Retirees Salary $10,500 $11,000 Limit) Notwithstanding the provisions of subsections (1) and (2) of Section 9-11-90 (1) and (2) of the 1976 Code,a retired member of the System may return to employment covered by the System and earn up to ten eleven thousand five hundred dollars a fiscal year without affecting the monthly retirement allowance he is receiving from the System. If the retired member continues in service after having earned ten eleven thousand five hundred dollars in a fiscal year, his retirement allowance must be discontinued during the period of service in the remainder of the fiscal year. If the employment continues for at least forty-eight consecutive months, the provisions of Section 9-1-1590 apply. The provisions of this section do not apply to an employee or member of the System who has retired mandatorily because of age pursuant to Section 9-1-1530.
129.56 (SCRS Retirees Salary $10,500 $11,000 Limit) Notwithstanding any other provision of law, a retired member of the System may return to employment covered by the System and earn up to ten eleven thousand five hundred dollars a fiscal year without affecting the monthly retirement allowance he is receiving from the System. If the retired member continues in service after having earned ten eleven thousand five hundred dollars in a fiscal year, his retirement allowance must be discontinued during his period of service in the remainder of the fiscal year. If the employment continues for at least forty-eight consecutive months, the provisions of Section 9-1-1590 apply. The provisions of this section do not apply to an employee or member of the System who has retired mandatorily because of age pursuant to Section 9-1-1530."
SECTION 2. This act takes effect July 1, 1992.