South Carolina General Assembly
114th Session, 2001-2002

Download This Version in Microsoft Word format

Bill 5007

Indicates Matter Stricken
Indicates New Matter

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


COMMITTEE REPORT

May 9, 2002

    H. 5007

Introduced by Reps. Klauber and Carnell

S. Printed 5/9/02--S.

Read the first time April 18, 2002.

            

THE COMMITTEE ON FINANCE

    To whom was referred a Bill (H. 5007) to amend Chapter 16, Title 9, Code of Laws of South Carolina, 1976, relating to the funds of the South Carolina Retirement Systems, by adding Article 5, etc., respectfully

REPORT:

    That they have duly and carefully considered the same and recommend that the same do pass with amendment:

    Amend the bill, as and if amended, by striking Section 9-16-710, as contained in SECTION 1, page 1, and inserting:

    / Section 9-16-710.    Notwithstanding an employee's right to obtain educational and administrative services from independent companies or vendors, or both, that offer products in the state's retirement plans, the South Carolina Retirement Systems may provide unbiased investment education services including, but not limited, instructional videos identifying plan types, plan provisions, and plan differences to any participant in any of the state's retirement plans. /

    Renumber sections to conform.

    Amend title to conform.

HUGH K. LEATHERMAN, SR. for Committee.

            

A BILL

TO AMEND CHAPTER 16, TITLE 9, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FUNDS OF THE SOUTH CAROLINA RETIREMENT SYSTEMS, BY ADDING ARTICLE 5 SO AS TO ALLOW THE SOUTH CAROLINA RETIREMENT SYSTEMS TO PROVIDE INVESTMENT EDUCATION TO ANY PARTICIPANT IN THE VARIOUS STATE RETIREMENT SYSTEMS AND TO REPEAL SECTION 8-23-115, RELATING TO THE PROVIDING OF CONSULTATIVE SERVICES FOR PARTICIPANTS IN THE DEFERRED COMPENSATION PLANS OFFERED BY THE DEFERRED COMPENSATION COMMISSION.

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

SECTION    1.    Chapter 16, Title 9 of the 1976 Code is amended by adding:

"Article 5

Investment Education

    Section 9-16-710.    The South Carolina Retirement Systems may provide investment education services to any participant in any of the state's retirement plans."

SECTION    2.    Section 8-23-115 of the 1976 Code is repealed.

SECTION    3.    This act takes effect July 1, 2002.

----XX----


This web page was last updated on Thursday, June 25, 2009 at 2:25 P.M.