South Carolina General Assembly
104th Session, 1981-1982

Bill 733

                    Current Status

Bill Number:               733
Ratification Number:       453
Act Number                 369
Introducing Body:          Senate
Subject:                   Relating to the South Carolina Retirement
                           System, Police Officers Retirement System and
                           the retirement system for members of the
                           General Assembly so as to provide an
                           additional option for such systems upon 
                           retirement
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A369, R453, S733)

AN ACT TO AMEND SECTIONS 9-11-160, AS AMENDED, 9-1-1620 AND 9-9-70, CODE OF LAWS OF SOUTH CAROLINA, 1076, RELATING TO THE SOUTH CAROLINA RETIREMENT SYSTEM, POLICE OFFICERS RETIREMENT SYSTEM AND THE RETIREMENT SYSTEM FOR MEMBERS OF THE GENERAL ASSEMBLY SO AS TO PROVIDE AN ADDITIONAL OPTION FOR SUCH SYSTEMS UPON RETIREMENT.

Be it enacted by the General Assembly of the State of South Carolina:

Additional option

Section 1. Section 9-1-1620 of the 1976 Code is amended by adding at the end:

"Option 5. A member may elect either Option 2 or 3 with the added provision that, in the event the designated beneficiary predeceases the member, the retirement allowance payable to the member after the designated beneficiary's death shall be equal to the retirement allowance which would have been payable had the member not elected the option."

Further

Section 2. Section 9-9-70 of the 1976 Code is amended by adding at the end:

"Option 3. A member may elect either Option 1 or 2 with the added provision that, in the event the designated beneficiary predeceases the member, the retirement allowance payable to the member after the designated beneficiary's death shall be equal to the retirement allowance which would have been payable had the member not elected the option."

Further

Section 3. Section 9-11-150 of the 1976 Code, as last amended by Section 2 of Act 29 of 1977, is further amended by adding at the end:

"Option 4. A member may elect either Option 1 or 2 with the added provision that, in the event the designated beneficiary predeceases the member, the retirement allowance payable to the member after the designated beneficiary's death shall be equal to the retirement allowance which would have been payable had the member not elected the option."

Time effective

Section 4. This act shall take effect upon the approval by the Governor.