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Bill Number: 46 Ratification Number: 89 Act Number 52 Introducing Body: Senate Subject: Retirement system for members of the General Assembly
(A52, R89, S46)
AN ACT TO AMEND SECTION 9-9-40, CODE OF LAWS OF SOUTH CAROLINA, 1976, AS AMENDED, RELATING TO THE RETIREMENT SYSTEM FOR MEMBERS OF THE GENERAL ASSEMBLY, SO AS TO DELETE A PROVISION WHICH AUTHORIZES CERTAIN FORMER MEMBERS TO CONTINUE TO CONTRIBUTE TO THE SYSTEM.
Be it enacted by the General Assembly of the State of South Carolina:
Certain members of retirement system may continue to contribute
SECTION 1. Subsection (2) of Section 9-9-40 of the 1976 Code is amended to read:
"(2) If a member of the system shall, before he has attained age sixty, cease to be a member of the General Assembly for reasons other than death, he shall thereupon cease to be a member of the system; provided, however, that if he has completed eight or more years of credited service, he may elect, by irrevocable written election filed with the system within six months from the cessation of his membership in the General Assembly, to continue his membership in the system and, at age sixty, he shall be eligible for a deferred annuity. Notwithstanding the above, any person who was a contributing special member of the System on January 1, ACN:, may continue as a member and any member of the 104th General Assembly or a former member with previous service credit who returns to active service as a member of the General Assembly may become a contributing special member if he has or had a minimum of eight years service credit in the General Assembly Retirement System upon termination of his service in the General Assembly."
Section 2. This act shall take effect upon approval by the Governor.