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COMMITTEE REPORT
March 10, 2004
S. Printed 3/10/04--S.
Read the first time January 21, 2004.
To whom was referred a Bill (S. 852) to amend Sections 9-1-10 and 9-11-10, both as amended, Code of Laws of South Carolina, 1976, relating to definitions under the South Carolina Retirement System, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass with amendment:
Amend the bill, as and if amended, by striking SECTION 3 and inserting:
/ SECTION 3. The last unnumbered paragraph of Section 9-1-1020 of the 1976 Code is amended to read:
"( ) Payments for unused sick leave, single special payments at retirement, bonus and incentive-type payments, or any other payments not considered a part of the regular salary base are not compensation for which contributions are deductible. Contributions are deductible on up to and including forty-five days' termination pay for unused annual leave. If a member has received termination pay for unused annual leave on more than one occasion, contributions are deductible on up to and including forty-five days' termination pay for unused annual leave for each termination payment for unused annual leave received by the member. However, only an amount up to and including forty-five days' pay for unused annual leave from the member's last termination payment shall be included in a member's average final compensation calculation."
SECTION 4. Section 9-11-210(12) of the 1976 Code is amended to read:
"(12) Payments for unused sick leave, single special payments at retirement, bonus and incentive-type payments, or any other payments not considered a part of the regular salary base are not compensation for which contributions are deductible. This item does not apply to bonus payments paid to certain categories of employees annually during their work careers. Bonus or special payments applied only during the 'Average Final Compensation' period are excluded as compensation. Contributions are deductible on up to and including forty-five days' termination pay for unused annual leave. If a member has received termination pay for unused annual leave on more than one occasion, contributions are deductible on up to and including forty-five days' termination pay for unused annual leave for each termination payment for unused annual leave received by the member. However, only an amount up to and including forty-five days' pay for unused annual leave from the member's last termination payment shall be included in a member's average final compensation calculation."
SECTION 5. This act takes effect July 1, 2004. /
Renumber sections to conform.
Amend title to conform.
HUGH K. LEATHERMAN, SR. for Committee.
EXPLANATION OF IMPACT:
The State Retirement System indicates there would be no adverse impact on the two retirement systems if this bill were enacted.
SPECIAL NOTES:
In accordance with Section 9-1-1140(A) of the Code of Laws of South Carolina, 1976, active members would be allowed to establish service credit for any period of paid public service by making a payment to the system to be determined by the Budget and Control Board, but not less than sixteen percent of the member's current salary or career highest fiscal year salary, whichever is greater, for each year of credit purchased.
Approved By:
Don Addy
Office of State Budget
TO AMEND SECTIONS 9-1-10 AND 9-11-10, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS UNDER THE SOUTH CAROLINA RETIREMENT SYSTEM AND THE POLICE OFFICERS RETIREMENT SYSTEM, RESPECTIVELY, SO AS TO PROVIDE THAT THE DEFINITION OF "PUBLIC SERVICE" INCLUDES PAID SERVICE RENDERED AS AN EMPLOYEE OF A POSTSECONDARY PUBLIC TECHNICAL COLLEGE OR PUBLIC JUNIOR COLLEGE, OR A PUBLIC FOUR-YEAR OR POSTGRADUATE INSTITUTION OF HIGHER EDUCATION, WHILE THE MEMBER WAS A STUDENT AT THAT INSTITUTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 9-1-10(23) of the 1976 Code, as last amended by Act 387 of 2000, is further amended to read:
"(23) 'Public Service' means service as an employee of the government of the United States, a state or political subdivision of the United States, or an agency or instrumentality of any of these. 'Public service' does not include 'educational service' or 'military service' as defined in this section. 'Public service' does include paid service rendered as an employee of a postsecondary public technical college or public junior college, or a public four-year or postgraduate institution of higher education, while the member was a student at that institution."
SECTION 2. Section 9-11-10(24) of the 1976 Code, as last amended by Act 387 of 2000, is further amended to read:
"(24) 'Public Service' means service as an employee of the government of the United States, any state or political subdivision of the United States, or any agency or instrumentality of any of these. The term 'public service' does not include 'educational service' or 'military service' as defined in this section. 'Public service' does include paid service rendered as an employee of a postsecondary public technical college or public junior college, or a public four-year or postgraduate institution of higher education, while the member was a student at that institution."
SECTION 3. This act takes effect July 1, 2004.
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