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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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