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1182Type of Legislation: General Bill GBIntroducing Body: SenateIntroduced Date: 20020403Primary Sponsor: LeathermanAll Sponsors: LeathermanDrafted Document Number: l:\council\bills\bbm\10983htc02.docResiding Body: SenateCurrent Committee: Finance Committee 06 SFSubject: State retirement systems may provide investment education to participants in; deferred compensation plans, to repeal provisions for consultative services for plan participantsHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 20020403 Introduced, read first time, 06 SF referred to Committee Versions of This Bill
TO AMEND CHAPTER 16, TITLE 9, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FUNDS OF THE SOUTH CAROLINA RETIREMENT SYSTEMS, BY ADDING ARTICLE 5 SO AS TO ALLOW THE SOUTH CAROLINA RETIREMENT SYSTEMS TO PROVIDE INVESTMENT EDUCATION TO ANY PARTICIPANT IN THE VARIOUS STATE RETIREMENT SYSTEMS AND TO REPEAL SECTION 8-23-115, RELATING TO THE PROVIDING OF CONSULTATIVE SERVICES FOR PARTICIPANTS IN THE DEFERRED COMPENSATION PLANS OFFERED BY THE DEFERRED COMPENSATION COMMISSION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 16, Title 9 of the 1976 Code is amended by adding:
Section 9-16-710. The South Carolina Retirement Systems may provide investment education services to any participant in any of the state's retirement plans."
SECTION 2. Section 8-23-115 of the 1976 Code is repealed.
SECTION 3. This act takes effect July 1, 2002.
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