Bill 4625

                    Current Status
Introducing Body:               House
Bill Number:                    4625
Ratification Number:            596
Act Number:                     522
Primary Sponsor:                Tucker
Type of Legislation:            GB
Subject:                        Solicitors rtirement system
Date Bill Passed both Bodies:   19940524
Computer Document Number:       JIC/5423HC.94
Governor's Action:              S
Date of Governor's Action:      19940923
Introduced Date:                19940127
Date of Last Amendment:         19940519
Last History Body:              ------
Last History Date:              19940923
Last History Type:              Act No. 522
Scope of Legislation:           Statewide
All Sponsors:                   Tucker
                                G. Bailey
                                Haskins
                                Harwell
                                J. Wilder
                                Davenport
                                Carnell
                                Hodges
                                D. Smith
                                Harrison
                                R. Young
                                Harvin
                                Gonzales
                                Graham
Type of Legislation:            General Bill

Bill   Body    Date          Action Description              CMN  Leg Involved
----   ------  ------------  ------------------------------  ---  ------------
4625   ------  19940923      Act No. 522
4625   ------  19940923      Signed by Governor
4625   ------  19940602      Ratified R 596
4625   Senate  19940524      Concurred in House amendment,
                             enrolled for ratification
4625   House   19940519      Senate amendments amended,
                             returned to Senate
4625   House   19940518      Debate adjourned until
                             Thursday, 19940519
4625   Senate  19940512      Read third time, returned to
                             House with amendment
4625   Senate  19940511      Amended, read second time,
                             ordered to third reading with
                             notice of general amendments
4625   Senate  19940509      Introduced, read first time,
                             placed on Calendar without
                             reference
4625   House   19940506      Read third time, sent to
                             Senate
4625   House   19940505      Unanimous consent for third
                             reading on next Legislative
                             day
4625   House   19940505      Read second time
4625   House   19940421      Committee Report: Favorable     30
4625   House   19940127      Introduced, read first time,    30
                             referred to Committee

(A522, R596, H4625)

AN ACT TO AMEND SECTION 9-8-60, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ELIGIBILITY AND RETIREMENT BENEFITS FOR MEMBERS OF THE RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS, SO AS TO CONFORM THE ELIGIBILITY FOR ADDITIONAL BENEFITS BECAUSE OF LENGTH OF SERVICE FOR SOLICITORS TO THE YEARS OF SERVICE REQUIRED FOR A SOLICITOR TO BE ELIGIBLE TO RETIRE, TO DELETE THE LIMITATION ON THE INCREASED BENEFITS APPLYING ONLY TO THOSE RETIRING AFTER JUNE 30, 1990, AND TO MAKE ANY BENEFIT INCREASES PROSPECTIVE ONLY.

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

Eligibility

SECTION 1. Section 9-8-60(5) of the 1976 Code, as added by Act 466 of 1990, is amended to read:

"(5) A member who retires, who has completed at least twenty-five years of credited service, or twenty-four years in the case of a solicitor, 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, or twenty-four in the case of a solicitor. The monthly retirement allowance may not exceed one-twelfth of ninety percent of the current active salary of the respective position."

Increase prospective

SECTION 2. Any increase in retirement benefits as a result of any recalculation pursuant to Section 9-8-60(5) of the 1976 Code, as amended by this act, applies only with respect to benefits paid after the effective date of this act.

Time effective

SECTION 3. This act takes effect upon approval by the Governor.

Approved the 23rd day of September, 1994.