South Carolina General Assembly
108th Session, 1989-1990

Bill 3807

                    Current Status

Bill Number:               3807
Ratification Number:       187
Act Number                 123
Introducing Body:          House
Subject:                   Relating to membership in the South
                           Carolina Police Officers Retirement
                           System
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A123, R187, H3807)

AN ACT TO AMEND SECTION 9-11-40, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO MEMBERSHIP IN THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM, SO AS TO PROVIDE THAT THE PAYMENT NECESSARY TO RECEIVE CREDIT UNDER THE SYSTEM FOR SERVICE IN THE SOUTH CAROLINA RETIREMENT SYSTEM IS THE ACCUMULATED CONTRIBUTIONS AND INTEREST IN THE SOUTH CAROLINA RETIREMENT SYSTEM PLUS FIVE PERCENT OF CURRENT SALARY FOR EACH FULL YEAR CREDITED PRORATED FOR PERIODS OF LESS THAN A YEAR.

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

Credit for service

SECTION 1. The last paragraph of Section 9-11-40(9) of the 1976 Code, as added by Section 47, Part II of Act 658 of 1988, is amended to read:

"A member of the South Carolina Police Officers Retirement System may transfer credited service he received under the South Carolina Retirement System to the South Carolina Police Officers Retirement System on payment of accumulated employer and employee contributions and interest in the South Carolina Retirement System plus five percent of current compensation for each year of service prorated for periods of less than a year."

Time effective

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