A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 9-11-28 SO AS TO PROVIDE THAT FULL-TIME MASTERS-IN-EQUITY SHALL PARTICIPATE IN THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM AND TO PROVIDE FOR CERTAIN TRANSFERS OF CREDITS.

 

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

 

SECTION 1.  Article 1, Chapter 11, Title 9 of the S.C. Code is amended by adding:

 

    Section 9-11-28. (A) After December 31, 2026, any person who is a full-time master-in-equity shall participate in the South Carolina Police Officers Retirement System for his service as a master-in-equity.

    (B) From July 1, 2026, to January 1, 2027, a full-time master-in-equity who elects to transfer credited service received under the South Carolina Retirement System to the South Carolina Police Officers Retirement System may do so upon payment of the accumulated employer and employee contributions and interest in the South Carolina Retirement System plus five percent of his annual salary in effect as of June 30, 2026, for each year of service prorated for periods of less than a year. After January 1, 2027, a master-in-equity may elect to transfer credited service received under the South Carolina Retirement System to the South Carolina Police Officers Retirement System as provided in Section 9-11-40(9).

 

SECTION 2.  This act takes effect upon approval by the Governor.

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