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TO WAIVE THE PAYMENT OF EMPLOYEE CONTRIBUTIONS TO THE SOUTH CAROLINA RETIREMENT SYSTEM AND THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM, AS APPLICABLE, FOR STATE GOVERNMENT TERI PROGRAM PARTICIPANTS AND RETIREES OF THOSE TWO SYSTEMS WHO WERE IN COVERED EMPLOYMENT WITH THE STATE DURING THE BASE PERIOD, TO DEFINE "BASE PERIOD" AND "EMPLOYEE", AND TO REQUIRE THE EMPLOYER OF THE EMPLOYEES ELIGIBLE FOR THIS WAIVER TO MAKE THE EMPLOYEE CONTRIBUTIONS ON BEHALF OF THE EMPLOYEE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. For purposes of this joint resolution:
(A) "employee" means:
(1) a state government employee participating in the TERI program at all times during the base period; or
(2) a retired member, of the South Carolina Retirement System or a retired member of the South Carolina Police Officers Retirement System in covered state employment at all times during the base period, but retired member for purposes of this item does not include a TERI program participant.
(B) "base period" means the interval beginning after June 29, 2005, and continuing through the date the waiver allowed pursuant to this joint resolution begins.
SECTION 2. (A) Retirement contributions otherwise required to be paid by an employee pursuant to the provisions of Sections 9-1-2210(C), 9-1-1790(C) and (D), and 9-11-90(4)(c) and (d), all of the 1976 Code, are waived and instead must be paid by the employee's employer and remitted to the appropriate retirement system as employer contributions are remitted.
(B) The waiver allowed by this joint resolution begins with respect to compensation paid an employee after the month in which this joint resolution is approved by the Governor and continues:
(1) in the case of an employee as defined in SECTION 1(A)(1), until the employee's TERI participation terminates; or
(2) in the case of an employee as defined in SECTION 1(A)(2), for so long as the employee continues in the same job the employee held during the base period.
SECTION 3. This joint resolution takes effect upon approval by the Governor.
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