South Carolina Code of Laws
Chapter 9 - Retirement System For Members Of General Assembly
Section 9-9-130. Contributions of State to Retirement System for members of General Assembly.

The contributions of the State to the System shall be determined by the Board each year on the basis of annual actuarial valuations of the System.
Each year the Board shall certify to the State the amount of its contribution due the System. The State's contributions shall be appropriated annually from the general fund to the System, and shall include such sums as are found necessary in order to create reserves in the System sufficient (i) to cover the cost of the allowances currently accruing under this chapter, (ii) to include a contribution, each year, toward the cost of prior service credits, and (iii) to cover any administrative expenses which the Board may incur in the operation of the System.
HISTORY: 1962 Code Section 61-283; 1966 (54) 2081.

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Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 9 - Retirement Systems

Chapter 9 - Retirement System For Members Of General Assembly

Section 9-9-5. System prospectively closed.

Section 9-9-10. Definitions.

Section 9-9-20. System created; system shall have powers and privileges of corporation; corporate name.

Section 9-9-30. Administration of and responsibility for system vested in board; powers and duties of board; actuary; salaries of employees and expenses.

Section 9-9-31. Confidentiality of member records.

Section 9-9-40. Membership in system; cessation of membership; election to continue as special member; continuation of membership in correlated system.

Section 9-9-50. Credited service; cancellation of service previously credited upon cessation of membership; credit for military service.

Section 9-9-55. Member of General Assembly for part of year may establish full year credit.

Section 9-9-60. Retirement; amount of retirement allowance.

Section 9-9-65. Disability retirement allowance.

Section 9-9-66. Medical examination of disability beneficiary.

Section 9-9-67. Reduction of disability allowance.

Section 9-9-68. Contract with Department of Vocational Rehabilitation for medical services in connection with disability retirements; vocational rehabilitation of retired member; adjustment of benefits.

Section 9-9-70. Optional forms of allowances.

Section 9-9-80. Allowances payable in monthly installments.

Section 9-9-90. Repayment of contributions and interest upon person's ceasing to be member of system.

Section 9-9-100. Payments on death of member or beneficiary.

Section 9-9-110. Effect of return of beneficiary to service as member of General Assembly.

Section 9-9-120. Transfer of service and contributions under South Carolina Retirement and Police Officers Retirement System; contributions of members of Retirement System for members of General Assembly; employer to pay required member contributions...

Section 9-9-130. Contributions of State to Retirement System for members of General Assembly.

Section 9-9-140. Office of the Director.

Section 9-9-170. Assets to be credited to two funds.

Section 9-9-175. Interest on member accounts.

Section 9-9-180. Exemption of retirement allowance and certain other rights from taxation and legal process; exceptions; assignment.

Section 9-9-190. Credit of State is not pledged; rights in case of termination of system or discontinuance of contributions.

Section 9-9-200. Property of system exempt from state and local taxes.

Section 9-9-210. False statements and falsification of records.

Section 9-9-220. Payments to beneficiaries may include payments to persons, trustees, and estates.

Section 9-9-240. Compensation used to determine benefits to be subject to federal limitations.

Section 9-9-245. Compliance with USERRA.

Section 9-9-250. Compliance with Internal Revenue Code.

Section 9-9-255. Compliance with Internal Revenue Code Section 401(a)(9).

Section 9-9-260. Compliance with Internal Revenue Code Section 415.