Current Status Bill Number:3965 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19950406 Primary Sponsor:Gamble, All Sponsors:Gamble, Hallman, H. Brown, Lanford, Koon, Fulmer and Keegan Drafted Document Number:JIC\5705HTC.95 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Retirement systems, beneficiaries
Body Date Action Description Com Leg Involved
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House 19950406 Introduced, read first time, 30 HWM
referred to Committee
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TO AMEND SECTIONS 9-1-1650, 9-8-110, AS AMENDED, 9-9-100, AS AMENDED, AND 9-11-110, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PAYMENTS DUE BENEFICIARIES OF MEMBERS OF THE SOUTH CAROLINA RETIREMENT SYSTEM, GENERAL ASSEMBLY RETIREMENT SYSTEM, AND SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM, SO AS TO ALLOW AN ACTIVE CONTRIBUTING MEMBER TO NOMINATE CONTINGENT BENEFICIARIES WHO, IF PREDECEASED BY ALL OTHER BENEFICIARIES, ARE CONSIDERED THE BENEFICIARY FOR PURPOSES OF REFUNDS AND ANNUITIES, IF APPLICABLE, UNDER THESE SYSTEMS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. 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."
SECTION 2. 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."
SECTION 3. 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."
SECTION 4. 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 5. This act takes effect upon approval by the Governor.