Current Status Bill Number:
3047Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19970114Primary Sponsor: KirshAll Sponsors: KirshDrafted Document Number: pt\2731htc.97Residing Body: HouseCurrent Committee: Ways and Means Committee 30 HWMSubject: Retirement System, General Assembly, members and benefits
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ House 19970114 Introduced, read first time, 30 HWM referred to Committee House 19961211 Prefiled, referred to Committee 30 HWMView additional legislative information at the LPITS web site.
TO AMEND SECTIONS 9-9-40 AND 9-9-60, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO MEMBERSHIP IN AND ELIGIBILITY FOR BENEFITS UNDER THE RETIREMENT SYSTEM FOR MEMBERS OF THE GENERAL ASSEMBLY, SO AS TO ELIMINATE PROSPECTIVELY THE RECEIPT OF RETIREMENT BENEFITS UNDER THIS SYSTEM FOR MEMBERS CURRENTLY IN EMPLOYMENT COVERED BY THE SOUTH CAROLINA RETIREMENT SYSTEM OR THE SOUTH CAROLINA POLICE OFFICERS' RETIREMENT SYSTEM, AND TO REPEAL PROSPECTIVELY SECTION 9-8-125, RELATING TO THE ELIGIBILITY FOR A MEMBER OF THE RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS WHO HAS ATTAINED AGE SIXTY-FIVE AND IS OTHERWISE QUALIFIED TO RECEIVE RETIREMENT BENEFITS FROM THE GENERAL ASSEMBLY RETIREMENT SYSTEM.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The second paragraph of Section 9-9-40(3) of the 1976 Code, as last amended by Act 497 of 1994, is further amended to read:
"If a member of a correlated system ceases to occupy a position covered under the system and if, within the protective period and under the conditions set forth in the correlated system for continuation of membership therein, he accepts a position covered by another correlated system, he shall notify the director of each system of the employment, and his membership in the first system is continued so long as his membership in the other system continues. Service credited to the members under the provisions of the first system is considered service credits for the purpose of determining eligibility for benefits, but not the benefit amount, under the other system. A benefit under any one of the correlated systems must be computed solely on the basis of service and contributions credited under that system, and is payable at the times and subject to the age and service conditions set forth. A member is not eligible to receive retirement payments so long as he is while employed in a position covered by the South Carolina Retirement System or the South Carolina Police Officers' Retirement System. Notwithstanding the provisions of this paragraph, a member of the Retirement System for Members of the General Assembly who is (1) at least sixty-five years of age, (2) not currently serving in the General Assembly, and (3) eligible to receive retirement benefits from the General Assembly System but for the member's current employment covered by a correlated system may elect to receive retirement benefits from the General Assembly System."
SECTION 2. Section 9-9-60(1) of the 1976 Code, as last amended by Act 497 of 1994, is further amended to read:
"(1) A member of the system may retire upon written application to the board setting forth at what time, not more than ninety days before nor more than six months subsequent to the execution and filing of the application, he desires to be retired, if the member at the time specified for his retirement is no longer in the service of the State, whether as a member of the General Assembly or otherwise, except as provided in Section 9-9-40(3), and has either attained the age of sixty years or completed thirty years of credited service."
SECTION 3. Section 9-8-125 of the 1976 Code is repealed.
SECTION 4. This act takes effect upon approval by the Governor and applies to persons not employed in positions covered under the South Carolina Retirement System, South Carolina Police Officers' Retirement System, and Retirement System for Judges and Solicitors on that date.