South Carolina Code of Laws
Chapter 1 - South Carolina Retirement System
Section 9-1-550. Option of certain public school employees.

South Carolina Code of Laws

Title 9 - Retirement Systems

Chapter 1 - South Carolina Retirement System

Section 9-1-10. Definitions.

Section 9-1-20. South Carolina Retirement System created; system shall have powers and privileges of corporation; purposes of system.

Section 9-1-30. Property of system exempt from taxation.

Section 9-1-40. Penalties for making false statement or record.

Section 9-1-50. Reservation of right to revise system to conform to changes in Federal Social Security Act.

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 9-1-310. Administrative costs of retirement systems funded from interest earnings; allocation of costs.

Section 9-1-320. Confidentiality of member records.

Section 9-1-410. Membership generally.

Section 9-1-420. Certain persons employed after December 31, 1948, are automatically members of system.

Section 9-1-425. Contributing member of system.

Section 9-1-430. Special provision for certain persons employed between April 26, 1945 and December 31, 1966.

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 9-1-510. Option of employees and teachers receiving $100 or less a month; legislators, and certain elected officials.

Section 9-1-520. Certain members of General Assembly may elect to remain members of system; contributions.

Section 9-1-530. Certain former legislators may elect to remain members following termination of service; contributions; members must establish service and qualify for allowance on or before December 31, 1965.

Section 9-1-540. Certain constitutional officers and members of General Assembly may elect, prior to December 31, 1965, to return to system.

Section 9-1-550. Option of certain public school employees.

Section 9-1-560. Option of day laborers.

Section 9-1-570. Option of state employees required to become members of Federal Railroad Retirement System.

Section 9-1-580. Option of certain hospital employees.

Section 9-1-610. Determination of who is teacher or employee.

Section 9-1-620. Effect on members, beneficiaries, their widows or other dependents, of other statutes.

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 9-1-820. Verification of service claimed; determination of compensation paid during period of prior service.

Section 9-1-830. Prior service certificates.

Section 9-1-840. What constitutes one year of service.

Section 9-1-1010. Assets to be credited to employee annuity savings fund and employer annuity accumulation fund.

Section 9-1-1020. Employee annuity savings fund; deductions from compensation of members of System; employer to pay required member contributions on earnings after July 1, 1982; tax treatment; funding; retirement treatment.

Section 9-1-1030. Deductions must be made although compensation is reduced below legal minimum; consent to deductions.

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 9-1-1100. Employer annuities and benefits to be paid from employer annuity accumulation fund.

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 9-1-1140. Establishing service credits by making payments into system; career highest fiscal year salary; credits during absences; employer payments; rules and regulations; credits for unused sick leave.

Section 9-1-1160. Collection of members' contributions; failure to make payroll reports and remittances; employer to pay required member contributions on earnings after July 1, 1982; tax treatment; funding; retirement treatment.

Section 9-1-1170. Collection of employers' contributions.

Section 9-1-1175. Employer contributions.

Section 9-1-1180. Deductions and employer contributions for teachers and employees of technical training schools.

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 9-1-1545. Election between service retirement and disability retirement; receipt of service retirement pending approval of disability retirement.

Section 9-1-1550. Service retirement allowances.

Section 9-1-1560. Allowances upon retirement for disability.

Section 9-1-1570. Reexamination of beneficiaries retired on account of disability; consequences of refusal to submit to reexamination.

Section 9-1-1580. Effect of ability to engage in gainful occupation; change in amount of disability retirement allowance.

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 9-1-1615. Retirement allowances payable in monthly installments; payments after death of retired member.

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 9-1-1650. Amounts paid upon termination of employment; election to leave contributions in system; effect of death before or after retirement.

Section 9-1-1660. Nominee on member's death may receive monthly allowance instead of accumulated contributions.

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 9-1-1690. Credit of State is not pledged for payments; rights in case of termination of system or discontinuance of contributions.

Section 9-1-1740. Increase in benefits for persons who were receiving benefits prior to July 1, 1966.

Section 9-1-1750. Increase in benefits for persons who were receiving benefits prior to July 1, 1967 and subsequent to June 30, 1966.

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 9-1-1766. Further additional increase in benefits for persons who retired prior to July 1, 1972.

Section 9-1-1767. Increase of benefits payable due to retirement before July 1, 1988 and July 1, 1989.

Section 9-1-1770. Preretirement Death Benefit Program; post-retirement benefit payment.

Section 9-1-1775. Death Benefit Plan.

Section 9-1-1780. Recomputation allowances of certain persons having thirty-five or more years of creditable service.

Section 9-1-1790. Amount which may be earned upon return to covered employment.

Section 9-1-1795. Employment of certain retired teachers without loss of retirement benefits; procedure by which retired teachers may be employed.

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 9-1-1850. Purchases of additional service credit by members with at least twenty-five years of creditable service.

Section 9-1-1870. Beneficiaries receiving Medicaid (Title XIX) sponsored nursing home care; effect on benefits; exception.

Section 9-1-1910. Minimum allowance for persons retiring with twenty or more years of service, generally.

Section 9-1-1920. Minimum allowance for certain persons who retired prior to July 1, 1945.

Section 9-1-1930. Minimum allowance for certain persons whose membership became effective on or after January 1, 1953.

Section 9-1-1940. Minimum allowance for certain persons whose membership became effective on or after January 1, 1951.

Section 9-1-1950. Minimum allowance for certain members of General Assembly.

Section 9-1-1960. Additional payments to certain members of the General Assembly effective July 1, 1972.

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.

Section 9-1-2210. Repealed.