South Carolina General Assembly
115th Session, 2003-2004

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Indicates New Matter

S. 913

STATUS INFORMATION

General Bill
Sponsors: Senators Reese and Knotts
Document Path: l:\council\bills\gjk\20906sd04.doc
Companion/Similar bill(s): 855, 4757

Introduced in the Senate on February 4, 2004
Currently residing in the Senate Committee on Finance

Summary: Retirement system; no more than twelve months of overpayments may be recouped from benefits; repayment provisions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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    2/4/2004  Senate  Introduced and read first time SJ-27
    2/4/2004  Senate  Referred to Committee on Finance SJ-27

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

2/4/2004

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A 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 MUST BE OVER A PERIOD OF NO LESS THAN THIRTY-SIX MONTHS IN EQUAL MONTHLY INSTALLMENTS WITHOUT INTEREST.

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 must be over a period of no less than thirty-six months in equal monthly installments without interest."

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 must be over a period of no less than thirty-six months in equal monthly installments without interest."

SECTION    3.    This act takes effect upon approval by the Governor.

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