(A) The collection of members' contributions must be as follows:
Each employer shall deduct on each payroll of a member the contributions payable by the member as provided in this section. The chief fiscal officer of the employer shall draw his warrant for the amount to be deducted, payable to the Retirement System, on a monthly basis, and shall transmit the warrant together with a schedule of the contributions on forms prescribed by the board, which is due in the office of the Retirement System no later than the last day of the month following the close of each month for the preceding month. If any employer fails to do so or arrears exist at any time in making monthly remittances required by this section and by regulations of the board, the monthly compensation of any person or officer of any employer charged with the responsibility of making monthly payroll reports and remittances to the system must be withheld by the employer until all required reports and remittances have been made. The system shall furnish monthly to the disbursing officers of each employer a statement of any failure to make payroll reports and remittances and the names of the persons or officers failing to make the reports and remittances.
A person failing to transmit the contributions deducted in the manner required in this section is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than three years, or both.
(B) Each department and political subdivision shall pick up the employee contributions required by this section for all compensation paid on or after July 1, 1982, and the contributions picked up must be treated as employer contributions in determining federal tax treatment under the United States Internal Revenue Code. Each department and political subdivision shall continue to withhold federal income taxes based upon these contributions until the Internal Revenue Service, or the federal courts, rule, pursuant to Section 414(h) of the United States Internal Revenue Code, that these contributions are not included as gross income of the employee until such time as they are distributed or made available. The department and political subdivision shall pay these employee contributions from the same source of funds which is used in paying earnings to the employee. The department and political subdivision may pick up these contributions by a reduction in the cash salary of the employee. Employee contributions picked up must be treated for all purposes of this section in the same manner and to the extent as employee contributions made before the date picked up.
HISTORY: 1962 Code Section 61-78; 1952 Code Section 61-78; 1945 (44) 212; 1949 (46) 424; 1951 (47) 518; 1959 (51) 15; 1960 (51) 1522; 1976 Act No. 709 Part II Section 19; 1982 Act No. 315, Section 2; 1982 Act No. 349, Section 2; 1985 Act No. 201, Part II, Section 47A; 1993 Act No. 184 Section 149, eff January 1, 1994.
Structure South Carolina Code of Laws
Chapter 1 - South Carolina Retirement System
Section 9-1-30. Property of system exempt from taxation.
Section 9-1-40. Penalties for making false statement or record.
Section 9-1-60. Implementation of "cafeteria" plan.
Section 9-1-100. Payments to beneficiaries may include payments to persons, trustees, and estates.
Section 9-1-210. Board shall administer system.
Section 9-1-230. Authority to engage actuarial and other services.
Section 9-1-240. Actuary for board.
Section 9-1-250. Investigation and valuation by actuary every five years.
Section 9-1-260. Annual valuation by actuary.
Section 9-1-270. Board shall keep actuarial data in convenient form.
Section 9-1-280. Board shall determine interest rate; base rate established.
Section 9-1-290. Rules and regulations.
Section 9-1-300. Records and reports.
Section 9-1-320. Confidentiality of member records.
Section 9-1-410. Membership generally.
Section 9-1-425. Contributing member of system.
Section 9-1-450. Members of other agency or departmental retirement plans.
Section 9-1-460. Discontinuance of certain local plans or funds.
Section 9-1-470. Political subdivisions may apply for admission to system as employers.
Section 9-1-480. Employees of political subdivisions as members.
Section 9-1-490. Firemen and peace officers.
Section 9-1-550. Option of certain public school employees.
Section 9-1-560. Option of day laborers.
Section 9-1-580. Option of certain hospital employees.
Section 9-1-610. Determination of who is teacher or employee.
Section 9-1-630. Certain persons may withdraw from system.
Section 9-1-640. Employers and members divided into two classes; change from Class One to Class Two.
Section 9-1-650. Continuation of membership in correlated systems.
Section 9-1-660. Firemen eligible for Police Officers Retirement System; benefits.
Section 9-1-670. Members eligible for membership in South Carolina State Employees Credit Union.
Section 9-1-810. Claims for prior service.
Section 9-1-830. Prior service certificates.
Section 9-1-840. What constitutes one year of service.
Section 9-1-1050. Employer annuity accumulation fund; contributions paid by employers.
Section 9-1-1060. Normal contribution rate.
Section 9-1-1070. Accrued liability contribution rate.
Section 9-1-1080. Minimum contributions to employer annuity accumulation fund.
Section 9-1-1085. Employer and employee contribution rates.
Section 9-1-1090. Discontinuance of accrued liability contribution.
Section 9-1-1110. Obligations of employer annuity accumulation fund.
Section 9-1-1120. Transfer between funds on return of retired employee to active service.
Section 9-1-1130. Earnings to be credited to employer annuity accumulation fund.
Section 9-1-1135. Interest on member accounts.
Section 9-1-1170. Collection of employers' contributions.
Section 9-1-1175. Employer contributions.
Section 9-1-1190. Board may change accounting methods and procedures of system.
Section 9-1-1210. Employer contributions shall reflect cost of Preretirement Death Benefit Program.
Section 9-1-1310. Trustee of retirement system; investment of funds.
Section 9-1-1320. Custodian of assets of the Retirement System.
Section 9-1-1330. Cash kept available with State Treasurer.
Section 9-1-1340. Conflicts of interest and use of funds by commission members or employees.
Section 9-1-1350. Transfers from general fund authorized.
Section 9-1-1510. Retirement of members at age 60 or after 28 years' service.
Section 9-1-1515. Early retirement.
Section 9-1-1540. Disability retirement.
Section 9-1-1550. Service retirement allowances.
Section 9-1-1560. Allowances upon retirement for disability.
Section 9-1-1590. Effect of restoring beneficiaries to active service.
Section 9-1-1610. Members of General Assembly may draw retirement benefits under certain conditions.
Section 9-1-1620. Optional forms of allowances.
Section 9-1-1625. Compliance with Internal Revenue Code.
Section 9-1-1630. Special benefits to teachers for service prior to July 1, 1945.
Section 9-1-1640. Manner of paying annuities.
Section 9-1-1665. Compliance with Internal Revenue Code Section 401(a)(9).
Section 9-1-1670. Change or error in records.
Section 9-1-1680. Exemption from taxation and legal process; exceptions; assignment.
Section 9-1-1760. Increase in benefits for persons who retired prior to July 1, 1972.
Section 9-1-1765. Additional increase in benefits for persons who retired prior to July 1, 1972.
Section 9-1-1770. Preretirement Death Benefit Program; post-retirement benefit payment.
Section 9-1-1775. Death Benefit Plan.
Section 9-1-1790. Amount which may be earned upon return to covered employment.
Section 9-1-1800. Recalculation of benefits for certain persons who retired prior to July 1, 1964.
Section 9-1-1812. Revision of sections upon certain conditions.
Section 9-1-1814. Revision of sections upon certain conditions.
Section 9-1-1815. Retirement allowance adjustments.
Section 9-1-1830. Payment and transfer of funds to the employer annuity accumulation fund.
Section 9-1-1920. Minimum allowance for certain persons who retired prior to July 1, 1945.
Section 9-1-1950. Minimum allowance for certain members of General Assembly.
Section 9-1-1970. Compensation used for determining benefits to be subject to federal limitations.
Section 9-1-1975. Compliance with USERRA.
Section 9-1-1980. Compliance with Internal Revenue Code Section 415.