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Current Status Bill Number:View additional legislative information at the LPITS web site.1188 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:20020404 Primary Sponsor:Rankin All Sponsors:Rankin and Elliott Drafted Document Number:l:\council\bills\nbd\11489ac02.doc Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:S.C. Retirement System, decision to hire retired member is at sole discretion of covered employer History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 20020404 Introduced, read first time, 06 SF referred to Committee Versions of This Bill
TO AMEND SECTION 9-1-1790, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MAXIMUM ANNUAL SALARY THAT MAY BE EARNED BY A RETIRED STATE EMPLOYEE RETURNING TO STATE EMPLOYMENT, SO AS TO PROVIDE THAT SUBSEQUENT HIRING OF A RETIREE OF THE STATE RETIREMENT SYSTEM IS AT THE SOLE DISCRETION OF THE EMPLOYER.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 9-1-1790(A) of the 1976 Code, as last amended by Act 25 of 2001, is further amended to read:
"(A) A retired member of the system who has been retired for at least sixty days may return to employment covered by the system and earn up to fifty thousand dollars a fiscal year without affecting the monthly retirement allowance he is receiving from the system. Subsequent hiring of a retired member of the system is at the sole discretion of the employer. If the retired member continues in service after having earned fifty thousand dollars in a fiscal year, his retirement allowance must be discontinued during his period of service in the remainder of the fiscal year. If the employment continues for at least forty-eight consecutive months, the provisions of Section 9-1-1590 apply. If a retired member of the system returns to employment covered by the system sooner than sixty days after retirement, the member's retirement allowance is suspended while the member remains employed by the participating employer. If an employer fails to notify the system of the engagement of a retired member to perform services, the employer shall reimburse the system for all benefits wrongly paid to the retired member."
SECTION 2. This act takes effect upon approval by the Governor.
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