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S. 952
STATUS INFORMATION
Joint Resolution
Sponsors: Senators Cromer and Leventis
Document Path: l:\council\bills\ggs\22275htc06.doc
Companion/Similar bill(s): 4544
Introduced in the Senate on January 10, 2006
Currently residing in the Senate Committee on Finance
Summary: S.C. Retirement System
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 11/29/2005 Senate Prefiled 11/29/2005 Senate Referred to Committee on Finance 1/10/2006 Senate Introduced and read first time SJ-11 1/10/2006 Senate Referred to Committee on Finance SJ-11
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO EXEMPT STATE AND LOCAL GOVERNMENT EMPLOYEES WHO BEGAN PARTICIPATION IN THE TEACHER AND EMPLOYEE RETENTION INCENTIVE PROGRAM (TERI) BEFORE JULY 1, 2005, AND REEMPLOYED RETIREES UNDER THE SOUTH CAROLINA RETIREMENT SYSTEM AND SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM WHO RETURNED TO EMPLOYMENT BEFORE JULY 1, 2005, FROM THE PAYMENT OF ONE-HALF EMPLOYEE CONTRIBUTIONS OTHERWISE DUE THESE SYSTEMS AND TO PROVIDE FOR THE REFUND WITHOUT INTEREST OF THE EXEMPT PORTION OF THE EMPLOYEE CONTRIBUTIONS MADE BY THESE EMPLOYEES WITH RESPECT TO EMPLOYMENT AFTER JUNE 30, 2005.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Notwithstanding the provisions of Sections 9-1-2210(C), 9-1-1790, and 9-11-90(4), all of the 1976 Code, persons who began participation in the Teacher and Employee Retention Incentive Program (TERI) before July 1, 2005, or who were reemployed retirees who returned to employment of employers covered under the South Carolina Retirement System (SCRS) or the South Carolina Police Officers Retirement System (SCPORS) before July 1, 2005, are exempt from one-half of the payment of employee contributions otherwise due SCRS or SCPORS with respect to employment after June 30, 2005. SCRS and SCPORS shall refund without interest the exempt portion of employee contributions made by the TERI program participants and reemployed retirees receiving the exemption allowed pursuant to this joint resolution.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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