South Carolina General Assembly
114th Session, 2001-2002

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Bill 4360

Indicates Matter Stricken
Indicates New Matter

                    Current Status

Bill Number:                      4360
Type of Legislation:              Joint Resolution JR
Introducing Body:                 House
Introduced Date:                  20010904
Primary Sponsor:                  Talley
All Sponsors:                     Talley, Littlejohn
Drafted Document Number:          l:\council\bills\bbm\10539htc01.doc
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          State Retirement, TERI Program; to change 
                                  the retirement allowance option elected by 
                                  members who began program participation in 
                                  January 2001


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20010904  Introduced, read first time,           30 HWM
                  referred to Committee


              Versions of This Bill
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A JOINT RESOLUTION

AUTHORIZING A MEMBER OF THE SOUTH CAROLINA RETIREMENT SYSTEM WHO RETIRED AND BEGAN TERI PARTICIPATION IN JANUARY 2001, TO CHANGE THE RETIREMENT ALLOWANCE OPTION ELECTED BY THE MEMBER AND PROVIDE THE ELIGIBILITY REQUIREMENTS AND METHOD OF ELECTION.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    A member of the South Carolina Retirement System who retired and: (a) elected to participate in the Teacher and Employee Retention Incentive Program (TERI) established pursuant to Section 9-1-2210 of the 1976 Code; (b) began such participation in January 2001; and (c) remains a TERI participant on the effective date of this joint resolution may elect to change the retirement allowance option made by the TERI participant before retirement. A change must be made in writing to the South Carolina Retirement System within sixty days of the effective date of this joint resolution and only may be made if the member remains a TERI participant at the time the option change is made. The change in option is deemed to have been made pursuant to the applicable provisions of Section 9-1-1620 of the 1976 Code, mutatis mutandis.

SECTION    2.    This joint resolution takes effect upon approval by the Governor.

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