South Carolina General Assembly
112th Session, 1997-1998

Bill 4862


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                    4862
Type of Legislation:            Joint Resolution JR
Introducing Body:               House
Introduced Date:                19980324
Primary Sponsor:                Govan
All Sponsors:                   Govan, Neilson, Bowers, J. Hines,
                                M. Hines, Kennedy, Lloyd, Seithel,
                                Simrill, Clyburn, Inabinett, Whipper,
                                Rodgers, Mack, Woodrum, Young, Neal,
                                Cave, Gamble, Moody-Lawrence, Walker,
                                Byrd, J. Brown, D. Smith, Phillips,
                                Howard and Littlejohn 
Drafted Document Number:        JIC\5399HTC.98
Residing Body:                  House
Current Committee:              Ways and Means Committee 30
                                HWM
Subject:                        Twenty-Five Year State Retirement
                                Study Committee created, Retirement
                                Systems, S.C.; Early retirement

History

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

House   19980324  Introduced, read first time,             30 HWM
                  referred to Committee


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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A JOINT RESOLUTION

ESTABLISHING THE TWENTY-FIVE YEAR STATE RETIREMENT STUDY COMMITTEE AND PROVIDING FOR ITS MEMBERSHIP AND DUTIES, TO REQUIRE THE COMMITTEE TO REPORT ITS FINDINGS AND RECOMMENDATIONS TO THE GENERAL ASSEMBLY NO LATER THAN OCTOBER 15, 1998, AND TO ABOLISH THE COMMITTEE AFTER IT MAKES IT REPORT.

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

SECTION 1. There is established the Twenty-Five Year State Retirement Study Committee consisting of nine members as follows: three members of the House of Representatives appointed by the Speaker, three members of the Senate appointed by the President Pro Tempore of the Senate, the executive director of the South Carolina State Employees Association or his designee, the executive director of the South Carolina Education Association or his designee, and the director of the South Carolina Retirement System of the State Budget and Control Boad. All members shall serve ex officio. The committee shall conduct a study to determine the full costs and benefits of allowing members of the South Carolina Retirement System to retire at any age without penalty with at least twenty-five years of credited service. The study must address all actuarial issues raised by this proposal including the additional costs and options to meet those costs, and a thorough review of the potential benefits of the proposal, including any possible personnel expense reductions. The study should also include a review of other states' retirement benefit plans. The study shall address these issues with respect to both state and local government employers under the system. The study's findings and conclusions must be reported to the General Assembly no later than October 15, 1998. Members shall serve without compensation, but shall receive the mileage, subsistence, and per diem authorized by law for members of state boards, committees, and commissions, to be paid from the approved accounts of both houses. The committee may call upon the services and resources of the State Budget and Control Board in the preparation of the study. The committee is abolished on the earlier of the date it reports to the General Assembly or October 15, 1998.

SECTION 2. This joint resolution takes effect upon approval by the Governor.

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