Nothing in this chapter shall be construed as providing for assets to be held in trust or escrow or any form of asset segregation for members, retired members, or beneficiaries. To the extent any person acquires the right to receive benefits under a QEBA, the right shall be no greater than the right of any unsecured general creditor of the State of South Carolina.
HISTORY: 2008 Act No. 311, Section 28, eff June 4, 2008.
Structure South Carolina Code of Laws
Chapter 12 - Qualified Excess Benefits Arrangements
Section 9-12-20. Qualified Excess Benefit Arrangements created.
Section 9-12-30. Administration of QEBAs.
Section 9-12-40. Eligibility for participation in a QEBA.
Section 9-12-50. QEBA supplemental retirement allowance.
Section 9-12-60. Amount of contributions to the QEBA.
Section 9-12-70. Employer contributions and separate fund.
Section 9-12-80. No ability to defer.
Section 9-12-90. No assignment.
Section 9-12-100. QEBA funds unsecured.