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TO AMEND SECTION 9-8-60, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO RETIREMENT AND RETIREMENT ALLOWANCES FOR PURPOSES OF THE RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS, SO AS TO ALLOW A MEMBER ELIGIBLE TO RETIRE WITH THE MAXIMUM RETIREMENT ALLOWANCE EQUAL TO NINETY PERCENT OF THE CURRENT SALARY OF A JUDGE OR SOLICITOR TO RETIRE AND RECEIVE THIS RETIREMENT ALLOWANCE WHILE CONTINUING TO SERVE, AND TO PROVIDE THAT EMPLOYER AND EMPLOYEE CONTRIBUTIONS MUST BE PAID AS IF THAT JUDGE OR SOLICITOR WAS AN ACTIVE CONTRIBUTING MEMBER OF THE RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. A. Section 9-8-60(1) of the 1976 Code, as last amended by Act 249 of 2004, is further amended to read:
"(1) A member of the system may retire upon written application to the board setting forth at what time, not later than the end of the calendar year in which the member attains age seventy-two and not more than ninety days prior nor more than six months subsequent to the execution and filing thereof, the member desires to be retired, if the member at the time so specified for retirement is no longer in the service of the State, except as a member of the General Assembly or as allowed pursuant to subsection (7) of this section, and has completed ten years of earned service as a judge or eight years of earned service as a solicitor or was in service as a judge or solicitor on July 1, 1984, and has either:
(a) attained the age of sixty-five and completed at least twenty years of credited service; or
(b) attained age seventy and completed at least fifteen years of credited service; or
(c) completed at least twenty-five years of credited service in the system for a judge, or twenty-four years of credited service in the system for a solicitor, regardless of age. A member may retire under this section if the member was a member of this system as of June 30, 2004; attained age sixty-five with at least four years earned service in the position of judge or solicitor; and, as of June 30, 2004, had a total of twenty-five years of credited service with the State in the South Carolina Retirement System, the Police Officers Retirement System, or the Retirement System for Members of the General Assembly.
A person is not eligible to receive a retirement allowance under this system while under employment covered by the South Carolina Retirement System and the South Carolina Police Officers Retirement System except as provided in Section 9-8-65.
A person receiving retirement allowances under this system who is elected to the General Assembly continues to receive the retirement allowances while serving in the General Assembly and must also be a member of the General Assembly Retirement System unless the person files a statement with the State Budget and Control Board on a form prescribed by the board electing not to participate in the General Assembly Retirement System while a member of the General Assembly. A person making this election shall not make contributions to the General Assembly Retirement System nor shall the State make contributions on the member's behalf and the person is not entitled to benefits from the General Assembly Retirement System after ceasing to be a member of the General Assembly."
B. Section 9-8-60 of the 1976 Code, as last amended by Act 249 of 2004, is further amended by adding a new subsection at the end to read:
"(7) A member eligible to retire and receive the maximum monthly benefit of one-twelfth of ninety percent of the current active salary of a judge or solicitor as provided in subsection (5) of this section may retire and receive a retirement benefit while continuing to serve as judge or solicitor. The employee and employer contributions must continue to be paid as if the judge or solicitor continuing to serve pursuant to this subsection was an active contributing member, but no additional service credit accrues on account of these contributions. A judge or solicitor who retires pursuant to this subsection is not subject to the provisions of Section 9-8-120 unless he has vacated his office."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Monday, June 22, 2009 at 3:08 P.M.