Group life insurance benefits may be paid by the State for service rendered while participating in the State ORP under the same requirements set out for participants in the South Carolina Retirement System's defined benefit plan pursuant to Section 9-1-1770. However, a postretirement group life insurance benefit must not be paid by the State for service rendered while participating in the State ORP. Employers shall remit the same contribution for the group life insurance benefit that employers would have contributed had the eligible employee chosen to be a member of the South Carolina Retirement System.
HISTORY: 2000 Act No. 268, Section 1, eff July 1, 2000; 2001 Act No. 54, Section 2, eff July 1, 2001; 2003 Act No. 77, Section 8, eff June 27, 2003.
Structure South Carolina Code of Laws
Chapter 20 - State Optional Retirement Program
Section 9-20-20. State Optional Retirement Program.
Section 9-20-30. Administration of program; designation of investment companies.
Section 9-20-40. Election of system; changing systems concurrent positions; open enrollment period.