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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.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text

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Municipal Association of South Carolina
1411 Gervais St., PO Box 12109, Columbia, SC 29211
Phone: 803.799.9574, Fax: 803.933.1299, mail@masc.sc