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COMMITTEE AMENDMENT ADOPTED
March 8, 2001
S. 163
S. Printed 3/8/01--S.
Read the first time January 18, 2001.
TO AMEND SECTIONS 9-1-1790 AND 9-11-90, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MAXIMUM AMOUNT WHICH MAY BE EARNED WITHOUT AFFECTING RETIREMENT BENEFITS BY RETIREES UNDER THE SOUTH CAROLINA RETIREMENT SYSTEM AND SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM WHO RETURN TO COVERED EMPLOYMENT, SO AS TO PERMANENTLY INCREASE THE MAXIMUM FROM TWENTY-FIVE THOUSAND DOLLARS TO FORTY-FIVE THOUSAND DOLLARS IN A FISCAL YEAR.
Amend Title To Conform
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 Section 27B, Part II, Act 100 of 1999, 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 twenty-five forty-five thousand dollars a fiscal year without affecting the monthly retirement allowance he is receiving from the system. If the retired member continues in service after having earned twenty-five forty-five 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. The provisions of this section do not apply to an employee or member of the system who has retired mandatorily because of age pursuant to Section 9-1-1530 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. Section 9-11-90(4)(a) of the 1976 Code, as last amended by Section 27C, Part II, Act 100 of 1999, is further amended to read:
(a) Notwithstanding the provisions of subsections (1) and (2) of this section, a retired member of the system may return to employment covered by the system who has been retired for at least sixty days and earn up to twenty-five forty-five thousand dollars a fiscal year without affecting the monthly retirement allowance he is receiving from the system. If the retired member continues in service after having earned twenty-five forty-five thousand dollars in a fiscal year, his retirement allowance must be discontinued during the 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 9-11-90(3) apply. The provisions of this section do not apply to an employee or member of the system who has retired mandatorily because of age pursuant to Section 9-1-1530 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 3. Section 9-1-1530 of the 1976 Code is repealed.
SECTION 4. This act takes effect July 1, 2001.
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