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TO AMEND SECTIONS 9-1-10 AND 9-11-10, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS FOR PURPOSES OF THE SOUTH CAROLINA RETIREMENT SYSTEM AND THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM, SO AS TO PROVIDE THAT "EARNABLE COMPENSATION" AND "COMPENSATION" MUST BE ADJUSTED TO ADD BACK ANY AMOUNT NOT RECEIVED BY A MEMBER OF THE SOUTH CAROLINA RETIREMENT SYSTEM OR SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM AS A RESULT OF A MANDATORY FURLOUGH IMPOSED ON THE MEMBER DURING THE APPLICABLE PERIOD AS A RESULT OF REDUCTION IN APPROPRIATIONS FOR THE MEMBER'S EMPLOYER, TO REQUIRE THE MEMBER'S EMPLOYING AGENCY TO CERTIFY TO THE SOUTH CAROLINA RETIREMENT SYSTEM OR THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM THE AMOUNT TO BE ADDED IN THE COMPUTATION OF EARNABLE COMPENSATION OR COMPENSATION AND TO WAIVE THE PAYMENT OF EMPLOYEE AND EMPLOYER CONTRIBUTIONS ON ANY AMOUNT ADDED TO EARNABLE COMPENSATION OR COMPENSATION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 9-1-10(8) of the 1976 Code, as last amended by Act 387 of 2000, is further amended by adding a paragraph at the end to read:
"There must be added to earnable compensation any amounts not received by the member during the applicable period because of a policy of mandatory furloughs imposed by the member's employer as a result of revenue shortfalls and resulting reductions in appropriations. The member's employing agency shall certify to the system the amount to be added to earnable compensation pursuant to this paragraph. Employee and employer contributions are waived on amounts added to earnable compensation pursuant to this paragraph."
SECTION 2. Section 9-11-10(12) of the 1976 Code, as last amended by Act 387 of 2000, is further amended by adding a paragraph at the end to read:
"There must be added to compensation any amounts not received by the member during the applicable period because of a policy of mandatory furloughs imposed by the member's employer as a result of revenue shortfalls and resulting reductions in appropriations. The member's employing agency shall certify to the system the amount to be added to compensation pursuant to this paragraph. Employee and employer contributions are waived on amounts added to compensation pursuant to this paragraph."
SECTION 3. This act takes effect upon approval by the Governor and applies for the calculation of average final compensation on or after that date.
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