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H. 4757
STATUS INFORMATION
General Bill
Sponsors: Reps. Koon, Littlejohn, Anthony, Frye, Rhoad, Bales, Bingham, Chellis and Harrison
Document Path: l:\council\bills\gjk\20870sd04.doc
Companion/Similar bill(s): 855, 913
Introduced in the House on February 12, 2004
Currently residing in the House Committee on Ways and Means
Summary: Retirees, overpayments
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 2/12/2004 House Introduced and read first time HJ-25 2/12/2004 House Referred to Committee on Ways and Means HJ-26
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTIONS 9-1-1675 AND 9-11-165 SO AS TO PROVIDE THAT NO MORE THAN TWELVE MONTHS OF OVERPAYMENTS MAY BE RECOUPED FROM THE RETIREMENT BENEFITS OF RETIREES UNDER THE SOUTH CAROLINA RETIREMENT SYSTEM AND THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM WHO RECEIVED OVERPAYMENTS THROUGH NO FRAUDULENT ACT OF THE RETIREE, AND TO PROVIDE THAT THE REPAYMENT BY THE RETIRED MEMBER MAY NOT EXCEED FIVE PERCENT OF HIS REVISED MONTHLY RETIREMENT ALLOWANCE AND MUST BE OVER A PERIOD OF NO LESS THAN ONE HUNDRED TWENTY MONTHS IN EQUAL MONTHLY INSTALLMENTS WITHOUT INTEREST OR PENALTY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 13, Chapter 1, Title 9 of the 1976 Code is amended by adding:
"Section 9-1-1675. If a retired member receives overpayment of retirement benefits through no fraudulent act of the member, the system may not recoup from the retiree's benefit more than the total of overpayments received by the member in the twelve months preceding the date the system provides notice in writing to the member of the overpayment. The repayment by the retired member may not exceed five percent of his revised monthly retirement allowance and must be over a period of no less than one hundred twenty months in equal monthly installments without interest and penalty."
SECTION 2. Article 1, Chapter 11, Title 9 of the 1976 Code is amended by adding:
"Section 9-11-165. If a retired member receives overpayment of retirement benefits through no fraudulent act of the member, the system may not recoup from the retiree's benefit more than the total of overpayments received by the member in the twelve months preceding the date the system provides notice in writing to the member of the overpayment. The repayment by the retired member may not exceed five percent of his revised monthly retirement allowance and must be over a period of no less than one hundred twenty months in equal monthly installments without interest and penalty."
SECTION 3. This act takes effect upon approval by the Governor.
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