Bill 2517

                    Current Status

Bill Number:               2517
Ratification Number:       69
Act Number:                43
Introducing Body:          House
Subject:                        Retirement system for judges and
                           solicitors

(A43, R69, H2517)

AN ACT TO AMEND ACT 150 OF 1979, AS AMENDED, RELATING TO THE RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS, SO AS TO PROVIDE THAT A PERSON WHO RECEIVES A RETIREMENT ALLOWANCE UNDER THIS SYSTEM WHO IS ELECTED TO THE GENERAL ASSEMBLY MAY CONTINUE TO RECEIVE THIS ALLOWANCE DURING HIS SERVICE IN THE GENERAL ASSEMBLY IF HE ELECTS NOT TO PARTICIPATE IN THE GENERAL ASSEMBLY RETIREMENT SYSTEM.

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

Retirement allowance

SECTION 1. Subsection (1) of Section 6 of Act 150 of 1979, as last amended by Section 71, Part II of Act 512 of 1984, is further amended to read:

"(1) Any member of the System may retire upon written application to the Board setting forth at what time, not later than his attaining age seventy-two and not more than ninety days prior nor more than six months subsequent to the execution and filing thereof, he desires to be retired, if the member at the time so specified for his retirement is no longer in the service of the State, whether as a judge or solicitor or otherwise, and has completed ten years of credited service as a judge or solicitor or was in service as a judge or solicitor on July 1, 1984, and has either attained the age of sixty-five and completed at least twenty years of credited service, or attained age seventy and completed at least fifteen years of credited service, or attained age seventy with at least five years' service in the position and has at least twenty-five years' other service with the State, or completed at least twenty-five years of credited service regardless of age. A solicitor is eligible to retire upon completion of twenty-four years of credited service regardless of age. A person is not eligible to receive a retirement allowance under this System while under employment covered by the South Carolina Retirement System, the South Carolina Police Officers Retirement System, or General Assembly Retirement System; provided, that a person receiving retirement allowances hereunder who is elected to the General Assembly may continue to receive the retirement allowances during his service in the General Assembly if he files a statement with the State Budget and Control Board on a form prescribed by the Board that he does not desire to participate in the General Assembly Retirement System while a member of the General Assembly. The person shall not make any contributions to the General Assembly Retirement System nor shall the State make any such contributions on his behalf. The person is not entitled to any benefits from the General Assembly Retirement System after ceasing to be a member of the General Assembly."

Person may apply for retirement allowance

SECTION 2. Subsection (2) of Section 12 of Act 150 of 1979 is amended to read:

"(2) Except as otherwise provided below, if this return is in a position other than as a solicitor, he, upon cessation of service in the position, is entitled to apply for a retirement allowance at the same rate to which he was previously entitled, disregarding any reduction therein resulting from a previous election of an option. If his return is as a member of the General Assembly he may continue receiving his retirement allowances under the conditions specified by subsection (1) of Section 6 of this act."

Time effective

SECTION 3. This act shall take effect upon approval by the Governor.