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S. 952
STATUS INFORMATION
General Bill
Sponsors: Senator Peeler
Document Path: l:\council\bills\bbm\10989htc14.docx
Introduced in the Senate on January 21, 2014
Currently residing in the Senate Committee on Finance
Summary: South Carolina Retirement System
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 1/21/2014 Senate Introduced and read first time (Senate Journal-page 6) 1/21/2014 Senate Referred to Committee on Finance (Senate Journal-page 6)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 9-1-1790, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO A RETURN TO COVERED EMPLOYMENT BY RETIRED MEMBERS OF THE SOUTH CAROLINA RETIREMENT SYSTEM (SCRS), SO AS TO PROVIDE THAT NO EMPLOYEE CONTRIBUTION IS REQUIRED TO BE PAID TO SCRS BY AN SCRS RETIREE WHO RETURNS TO COVERED EMPLOYMENT IF THE MEMBER'S OTHERWISE REQUIRED TOTAL MONTHLY CONTRIBUTION EXCEEDS THE MEMBER'S MONTHLY SCRS RETIREMENT BENEFIT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 9-1-1790(C) of the 1976 Code, as last amended by Act 153 of 2005, is further amended to read:
"(C)(1) Except as provided in item (2) of this subsection, a retired member shall pay to the system the employee contribution as if the member were an active contributing member if an employer participating in the system employs the retired member. The retired member does not accrue additional service credit in the system by reason of the contributions required pursuant to this subsection and subsection (B) of this section.
(2) A employee contribution is not required pursuant to item (1) if the employee's contribution on one-twelfth of the employee's annual or annualized salary exceeds the employee's monthly SCRS retirement benefit."
SECTION 2. This act takes effect July 1, 2014, and applies for SCRS retirement benefits and SCRS employee contributions paid after June 30, 2014.
This web page was last updated on January 22, 2014 at 2:51 PM