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S 0381 - Allows terminated employees close to retirement to buy out remaining retirement time

Tracking Level: Passed
Sponsor: Katrina Shealy (R)
Last Action: 6/9/2016 - Act No. 202
Senate Committee:
Assigned To:
Employment/PersonnelNext Bill

Staff Analysis of the Legislation

05.18.2016 The House Ways and Means Committee gave this bill a favorable report.
05.05.2016 The House Ways and Means General Government, Personnel and Benefits subcommittee gave this bill a favorable report.
03.10.2015 The Senate Finance Committee gave this bill a favorable report.
03.03.2015 The Senate Finance Retirement and Employee Benefits subcommittee gave this bill a favorable report with an amendment. The amendment confirms the terminated employee who is a member of either SCRS or PORS has five days to purchase up to one year of service credit to make them eligible to retire.
Summary of the bill as introduced: Allows any public employee who is terminated within one year of full retirement to purchase the remaining time within five days of termination.

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Session 121 - (2015-2016)Printer Friendly
(pdf format)
S*0381 (Rat #0217, Act #0202 of 2016) General Bill, By Shealy, Bright, Turner, Johnson, Young, Jackson, Grooms, Sabb, Thurmond, Massey, Allen, Sheheen, Davis, Hembree, L. Martin, Bryant, Peeler, Alexander, Lourie, Cromer, Setzler and Scott
Summary: Leave and lump-sum payments
    AN ACT TO AMEND SECTION 8-11-620, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO LEAVE AND LUMP-SUM PAYMENTS UPON TERMINATION OF EMPLOYMENT, SO AS TO PROVIDE THAT CERTAIN ACTIVE MEMBERS OF THE SOUTH CAROLINA RETIREMENT SYSTEM (SCRS) OR THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM (SCPORS) WHO ARE TERMINATED WITHIN ONE YEAR OF RETIREMENT ELIGIBILITY SHALL HAVE FIVE DAYS AFTER TERMINATION TO PURCHASE SERVICE CREDIT; TO AMEND SECTION 9-1-1140, AS AMENDED, RELATING TO ESTABLISHING SERVICE CREDIT IN THE SCRS, SO AS TO PROVIDE THAT AN ACTIVE MEMBER WHO IS TERMINATED FROM EMPLOYMENT WITHIN ONE YEAR OF RETIREMENT ELIGIBILITY MAY PURCHASE SERVICE CREDIT; AND TO AMEND SECTION 9-11-50, AS AMENDED, RELATING TO ESTABLISHING SERVICE CREDIT IN THE SCPORS, SO AS TO PROVIDE THAT AN ACTIVE MEMBER WHO IS TERMINATED FROM EMPLOYMENT WITHIN ONE YEAR OF RETIREMENT ELIGIBILITY MAY PURCHASE SERVICE CREDIT. - ratified title
View full text          View Vote History          View Fiscal Impact
01/28/15Senate Introduced and read first time (Senate Journal-page 22)
01/28/15Senate Referred to Committee on Finance (Senate Journal-page 22)
03/11/15Senate Committee report: Favorable with amendment Finance (Senate Journal-page 7)
03/17/15Senate Committee Amendment Adopted (Senate Journal-page 27)
03/18/15Senate Read second time (Senate Journal-page 21)
03/18/15Senate Roll call Ayes-45 Nays-0 (Senate Journal-page 21)
03/19/15Senate Read third time and sent to House (Senate Journal-page 7)
03/24/15House Introduced and read first time (House Journal-page 15)
03/24/15House Referred to Committee on Ways and Means (House Journal-page 15)
05/19/16House Committee report: Favorable Ways and Means (House Journal-page 104)
05/25/16House Read second time (House Journal-page 27)
05/25/16House Roll call Yeas-104 Nays-2 (House Journal-page 27)
05/26/16House Read third time and enrolled (House Journal-page 9)
06/02/16 Ratified R 217
06/03/16 Signed By Governor
06/09/16 Effective date 06/03/16
06/09/16 Act No. 202



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