H 4862 Joint Resolution, By Govan, Bowers, J. Brown, A.W. Byrd, Cave, Clyburn, 
Gamble, J. Hines, M. Hines, Howard, Inabinett, Kennedy, Littlejohn, Lloyd, Mack, 
Moody-Lawrence, J.H. Neal, Neilson, Phillips, Rodgers, Seithel, Simrill, 
D. Smith, Walker, Whipper, Woodrum and W.J. Young
 A JOINT RESOLUTION ESTABLISHING THE TWENTY-FIVE YEAR STATE RETIREMENT STUDY
 COMMITTEE AND PROVIDING FOR ITS MEMBERSHIP AND DUTIES, TO REQUIRE THE
 COMMITTEE TO REPORT ITS FINDINGS AND RECOMMENDATIONS TO THE GENERAL ASSEMBLY
 NO LATER THAN OCTOBER 15, 1998, AND TO ABOLISH THE COMMITTEE AFTER IT MAKES
 ITS REPORT.

   03/24/98  House  Introduced and read first time HJ-6
   03/24/98  House  Referred to Committee on Ways and Means HJ-6

A JOINT RESOLUTION

ESTABLISHING THE TWENTY-FIVE YEAR STATE RETIREMENT STUDY COMMITTEE AND PROVIDING FOR ITS MEMBERSHIP AND DUTIES, TO REQUIRE THE COMMITTEE TO REPORT ITS FINDINGS AND RECOMMENDATIONS TO THE GENERAL ASSEMBLY NO LATER THAN OCTOBER 15, 1998, AND TO ABOLISH THE COMMITTEE AFTER IT MAKES IT REPORT.

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

SECTION 1. There is established the Twenty-Five Year State Retirement Study Committee consisting of nine members as follows: three members of the House of Representatives appointed by the Speaker, three members of the Senate appointed by the President Pro Tempore of the Senate, the executive director of the South Carolina State Employees Association or his designee, the executive director of the South Carolina Education Association or his designee, and the director of the South Carolina Retirement System of the State Budget and Control Boad. All members shall serve ex officio. The committee shall conduct a study to determine the full costs and benefits of allowing members of the South Carolina Retirement System to retire at any age without penalty with at least twenty-five years of credited service. The study must address all actuarial issues raised by this proposal including the additional costs and options to meet those costs, and a thorough review of the potential benefits of the proposal, including any possible personnel expense reductions. The study should also include a review of other states' retirement benefit plans. The study shall address these issues with respect to both state and local government employers under the system. The study's findings and conclusions must be reported to the General Assembly no later than October 15, 1998. Members shall serve without compensation, but shall receive the mileage, subsistence, and per diem authorized by law for members of state boards, committees, and commissions, to be paid from the approved accounts of both houses. The committee may call upon the services and resources of the State Budget and Control Board in the preparation of the study. The committee is abolished on the earlier of the date it reports to the General Assembly or October 15, 1998.

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