Current Status Bill Number:3423 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19950131 Primary Sponsor:P. Harris All Sponsors:P. Harris Drafted Document Number:jic\5332htc.95 Residing Body:Senate Date of Last Amendment:19950425 Subject:Retirement systems, service credit
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
Senate 19960523 Recalled from Committee, 06 SF
placed on the Calendar
Senate 19950427 Introduced, read first time, 06 SF
referred to Committee
House 19950426 Read third time, sent to Senate
House 19950425 Amended, read second time
House 19950420 Debate adjourned until
Tuesday, 19950425
House 19950420 Amended
House 19950412 Committee report: Favorable 30 HWM
House 19950131 Introduced, read first time, 30 HWM
referred to Committee
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Indicates Matter Stricken
Indicates New Matter
RECALLED
May 23, 1996
H. 3423
S. Printed 5/23/96--S.
Read the first time April 27, 1995.
TO AMEND SECTIONS 9-1-440 AND 9-11-50, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SERVICE CREDIT FOR PURPOSES OF THE SOUTH CAROLINA RETIREMENT SYSTEM AND THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM, SO AS TO ALLOW MEMBERS ESTABLISHING SERVICE CREDIT FOR NONMEMBER SERVICE TO ELECT IRREVOCABLY TO ESTABLISH LESS THAN THE TOTAL OF THE NONMEMBER SERVICE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 9-1-440 of the 1976 Code, as last amended by Act 420 of 1994, is further amended by adding at the end:
"A member making the single payment allowed pursuant to this section to establish credit for nonmember service may elect to establish less than the total of the member's nonmember service, but a member making this election is thereafter ineligible to establish the remainder of such service."
SECTION 2. Section 9-11-50(3) of the 1976 Code is amended by adding at the end:
"A member making the single payment allowed pursuant to this subsection to establish credit for nonmember service may elect to establish less than the total of the member's nonmember service, but a member making this election is thereafter ineligible to establish the remainder of such service."
SECTION 3. In the case of a deceased member of the South Carolina Retirement System who:
(1) retired after December 31, 1991, with more than twenty-five years service credit;
(2) was at least age sixty-five on the retirement date;
(3) elected to receive maximum benefits; and
(4) died less than six months after the effective date of retirement, the surviving spouse of the deceased member may revoke the payment election made by the deceased spouse and, upon repayment to the system of all contributions made by the deceased member plus interest, elect a method of payment under Option 2. This revocation request must be made in writing to the South Carolina Retirement System and any such request may be made only in the first thirty days following the effective date of this act.
SECTION 4. A member of the South Carolina Retirement System who retired on grounds of disability during fiscal year 1994-95 who was eligible to establish credit for military service and failed to do so in a timely manner may nevertheless establish such service upon written application therefor to the South Carolina Retirement System and payment of the amount specified by law. The application and payment must be made within ninety days after the effective date of this act. Upon receipt of the appropriate payment, the benefits due the retiree must be recalculated to reflect the additional service credit.
SECTION 5. A. Section 9-1-1650 of the 1976 Code is amended by adding at the end:
"An active contributing member making the nomination provided under this section also may name contingent beneficiaries in the same manner that beneficiaries are named. A contingent beneficiary has no rights under this chapter unless all beneficiaries nominated by the member have predeceased the member and the member's death occurs while in service. In this instance, a contingent beneficiary is considered the member's beneficiary for purposes of this section and Section 9-1-1660, if applicable."
B. Section 9-8-110(1) of the 1976 Code is amended to read:
"(1) Except as provided in subsections (2) and (3) of this section, upon the death of any member of the system, a lump sum amount shall must be paid to such the persons as he shall have the member nominated by written designation, filed with the board, otherwise to his estate. Such This amount shall must be equal to the amount of his the member's accumulated contributions. An active contributing member making the nomination provided under this section also may name secondary beneficiaries in the same manner that beneficiaries are named. A secondary beneficiary has no rights under this chapter unless all beneficiaries nominated by the member predecease the member and the member's death occurs while in service. In this instance, a secondary beneficiary is considered the member's beneficiary for purposes of this section."
C. Section 9-9-100(1) of the 1976 Code is amended to read:
"(1) Upon the death of any a member of the system, a lump sum amount shall must be paid to such the person as he shall have the member nominated by written designation, filed with the board, otherwise to his the member's estate. Such This lump sum amount shall must be equal to the amount of his the member's accumulated contributions. An active contributing member making the nomination provided under this item also may name contingent beneficiaries in the same manner that beneficiaries are named. A contingent beneficiary has no rights under this chapter unless all beneficiaries nominated by the member have predeceased the member and the member's death occurs while in service. In this instance, a contingent beneficiary is considered the member's beneficiary for purposes of this item and item (3) of this section, if applicable."
D. Section 9-11-110 of the 1976 Code is amended by adding at the end:
"(3) An active contributing member making the nomination provided under subsection (1) of this section also may name contingent beneficiaries in the same manner that beneficiaries are named. A contingent beneficiary has no rights under this chapter unless all beneficiaries nominated by the member have predeceased the member and the member's death occurs while in service. In this instance, a contingent beneficiary is considered the member's beneficiary for purposes of subsection (1) of this section and Section 9-11-130, if applicable."
SECTION 6. This act takes effect upon approval by the Governor.