South Carolina General Assembly
107th Session, 1987-1988

Bill 311

                    Current Status

Bill Number:               311
Ratification Number:       113
Act Number                 77
Introducing Body:          Senate
Subject:                   South Carolina Police Officers Retirement
                           System
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A77, R113, S311)

AN ACT TO AMEND CHAPTER 11, TITLE 9, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM, BY ADDING SECTION 9-11-55 SO AS TO PROVIDE THAT MEMBERS OF THIS SYSTEM ARE ENTITLED TO CREDIT FOR PRIOR SERVICE FOR WHICH CREDIT MAY BE ESTABLISHED BY MEMBERS OF THE SOUTH CAROLINA RETIREMENT SYSTEM AND TO PROVIDE THE FORMULA FOR PAYMENT FOR THE CREDIT.

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

Credit established

SECTION 1. Chapter 11, Title 9 of the 1976 Code is amended by adding:

"Section 9-11-55. A member of the South Carolina Police Officers Retirement System may establish additional creditable service for this system for prior nonpolice service which has never been credited under another state retirement system for which a member of the South Carolina Retirement System may establish additional creditable service. The creditable service is established upon payment of a lump-sum contribution equal to ten percent of his annual earnable compensation at the time of payment for each year of prior service and a proportionate part thereof for a fraction of a year but the special lump-sum contribution may not be less than his earnable compensation in any of the three preceding fiscal years."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.