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Current Status Bill Number:View additional legislative information at the LPITS web site.3105 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:19990112 Primary Sponsor:Govan All Sponsors:Govan Drafted Document Number:l:\council\bills\kgh\15111htc99.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Twenty-five Year State Retirement Study Committee created, Early retirement, S.C. Retirement System History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 19990112 Introduced, read first time, 30 HWM referred to Committee House 19981209 Prefiled, referred to Committee 30 HWM Versions of This Bill
ESTABLISHING THE TWENTY-FIVE YEAR STATE RETIREMENT STUDY COMMITTEE AND PROVIDING FOR ITS MEMBERSHIP AND DUTIES, TO REQUIRE THE COMMITTEE TO REPORT ITS FINDINGS AND RECOMMENDATIONS TO THE GENERAL ASSEMBLY NO LATER THAN OCTOBER 15, 1999, AND TO ABOLISH THE COMMITTEE AFTER IT MAKES ITS REPORT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. There is established the Twenty-Five Year State Retirement Study Committee consisting of nine members as follows: three members of the House of Representatives appointed by the Speaker, three members of the Senate appointed by the President Pro Tempore of the Senate, the executive director of the South Carolina State Employees Association or his designee, the executive director of the South Carolina Education Association or his designee, and the director of the South Carolina Retirement System of the State Budget and Control Board. All members shall serve ex officio. The committee shall conduct a study to determine the full costs and benefits of allowing members of the South Carolina Retirement System to retire at any age without penalty with at least twenty-five years of credited service. The study must address all actuarial issues raised by this proposal, including the additional costs and options to meet those costs, and a thorough review of the potential benefits of the proposal, including any possible personnel expense reductions. The study should also include a review of other states' retirement benefit plans. The study shall address these issues with respect to both state and local government employers under the system. The study's findings and conclusions must be reported to the General Assembly no later than October 15, 1999. Members shall serve without compensation, but shall receive the mileage, subsistence, and per diem authorized by law for members of state boards, committees, and commissions to be paid from the approved accounts of both houses. The committee may call upon the services and resources of the State Budget and Control Board in the preparation of the study. The committee is abolished on the earlier of the date it reports to the General Assembly or October 15, 1999.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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