Current Status Bill Number:1165 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19980402 Primary Sponsor:Holland All Sponsors:Holland Drafted Document Number:jud9065.dhh Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Judges and Solicitors Retirement System, service credit; may transfer three years judicial to S.C. System
Body Date Action Description Com Leg Involved
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Senate 19980402 Introduced, read first time, 06 SF
referred to Committee
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TO AMEND SECTION 9-8-50, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TRANSFER OF JUDICIAL SERVICE CREDIT TO OTHER SYSTEMS, SO AS TO PROVIDE THAT A CURRENTLY CONTRIBUTING MEMBER OF THE RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS WITH TWENTY-FIVE YEARS OF CREDITED SERVICE IN THE SOUTH CAROLINA RETIREMENT SYSTEM MAY TRANSFER UP TO THREE YEARS OF JUDICIAL SERVICE CREDIT TO THE SOUTH CAROLINA RETIREMENT SYSTEM; AND TO AMEND SECTION 9-8-60, RELATING TO THE CREDITED SERVICE REQUIREMENTS OF THE RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS, SO AS TO CHANGE THE CREDITED SERVICE REQUIREMENT AS A JUDGE OR SOLICITOR TO REFLECT THE LENGTH OF A SOLICITOR'S TERM OF OFFICE, AND TO CHANGE THE NUMBER OF CREDITED SERVICE YEARS NECESSARY FOR A SOLICITOR TO RETIRE REGARDLESS OF AGE TO TWENTY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 9-8-50 of the 1976 Code is amended by adding:
"(5) Any member who has twenty-five years of prior service credit in the South Carolina Retirement System may transfer up to three years of service credit from the Retirement System for Judges and Solicitors to the South Carolina Retirement System. A transfer of service credit pursuant to this subsection includes the transfer of the salary base associated with the years of judicial service and the total employer and employee contributions for the years of judicial service. This transfer may take place only if the benefit from the vested judicial annuity is not diminished."
SECTION 2. Section 9-8-60(1) of the 1976 Code is amended to read:
"(1) A member of the system may retire upon written application to the board setting forth at what time, not later than his attaining age seventy-two and not more than ninety days prior nor more than six months subsequent to the execution and filing thereof, the member desires to be retired, if the member at the time so specified for retirement is no longer in the service of the State, except as a member of the General Assembly, and has completed ten eight years of credited service as a judge or solicitor or was in service as a judge or solicitor on July 1, 1984, and has either attained the age of sixty-five and completed at least twenty years of credited service, or attained age seventy and completed at least fifteen years of credit service, or attained age sixty-five with at least four years' service in the position and has at least twenty-five years' other service with the State, or completed at least twenty-five years of credited service regardless of age. A solicitor is eligible to retire upon completion of twenty-four twenty years of credited service regardless of age. A person is not eligible to receive a retirement allowance under this system while under employment covered by the South Carolina Retirement System, and the South Carolina Police Officers Retirement System.
A person receiving retirement allowances under this system who is elected to the General Assembly continues to receive the retirement allowances while serving in the General Assembly and must also be a member of the General Assembly Retirement System unless the person files a statement with the State Budget and Control Board on a form prescribed by the board electing not to participate in the General Assembly Retirement System while a member of the General Assembly. A person making this election shall not make contributions to the General Assembly Retirement System nor shall the State make contributions on the member's behalf and the person is not entitled to benefits from the General Assembly Retirement System after ceasing to be a member of the General Assembly."
SECTION 3. This act takes effect upon approval by the Governor.