Bills Assigned to Keyword - Retirement (10)

Date of Last Recorded Action: 6/12/2018


H 3726 Makes changes to the SC Retirement System04.04.2017 The conference committee adopted portions of each version of the bill and passed it out favorably.02.14.2017 The House Ways and Means Legislative subcommittee gave this bill a favorable report. Summary of the bill as introduced: Pays down the unfunded liability of the state retirement system and reduces the assumed annual rate of return from 7.5 percent to 7.25 percent.This bill increases the employer contribution rate for SCRS and PORS by 2 percent effective July 1. It increases the employer contribution 1 percent each year through 2023 ultimately producing an employer rate of 18.56 for SCRS and 21.24 for PORS. It also places a cap of 9 percent on the employee contribution rate effective July 1. There is no reduction in cost of living adjustments for retirees.
Sponsor: William Herbkersman House Com: WM Senate Com: Fin
Status: Act No. 13 Status Date: 4/28/2017
Keywords: Retirement Week of 02.06.2017 Week of 02.13.2017 Week of 04.03.2017
Passed
H 4725 Extends the TERI program to June 30, 2021Summary of the bill as introduced: Extends the Teacher and Employee Retention Incentive Program to June 30, 2021.
Sponsor: Robert Brown House Com: WM Senate Com:
Status: House - Referred to Committee on Ways and Means Status Date: 1/25/2018
Keywords: Retirement TERI Week of 01.22.2018
Of Interest
H 4930 Deletes the post-retirement earnings limitation for police officers Summary of the bill as introduced: Deletes the post-retirement earnings limitation for those who may return to work under the Police Officers Retirement System.
Sponsor: Bruce Bryant House Com: WM Senate Com:
Status: House - Referred to Committee on Ways and Means Status Date: 2/14/2018
Keywords: Retirement Week of 02.12.2018
Of Interest
H 5000 Creates the optional shared-risk defined benefit planSummary of the bill as introduced: Creates the optional shared-risk defined benefit plan to provide retirement requirements and benefits.
Sponsor: James Lucas House Com: WM Senate Com:
Status: House - Recommitted to Committee on Ways and Means Status Date: 5/1/2018
Keywords: Retirement Week of 02.19.2018
Of Interest
H 5178 Changes the earnings limitation for covered employees under the state retirement systemSummary of the bill as introduced: Changes the earnings limitation for covered employees under the state retirement system exempt a member from the limitation who retired before November 1, 2017 and for police officers who retired before December 31, 2017.
Sponsor: Kirkman Finlay House Com: WM Senate Com:
Status: House - Referred to Committee on Ways and Means Status Date: 3/22/2018
Keywords: Retirement Week of 03.19.2018
Of Interest
S 0394 Makes changes to the state retirement system benefits and contributions02.21.2017 The Senate Finance Committee gave this bill a favorable report as amended. The amendment makes Public Employment Benefit Authority actuaries' information shareable with the Retirement System Investment Commission. Summary of the bill as introduced: Reduces the assumed annual rate of return from 7.5 percent to 7.25 percent. It increases the employer contribution rate for SCRS and PORS 2 percent effective July 1. Then increases one percent each year through 2023. The bill also places a cap on employee contribution rate effective July 1 to nine percent. There is no reduction in cost of living adjustments.
Sponsor: Vincent Sheheen House Com: WM Senate Com: Fin
Status: House - Referred to Committee on Ways and Means Status Date: 3/7/2017
Keywords: Retirement Week of 02.06.2017 Week of 02.20.2017
Of Interest
S 0828 Allows certain employees to be hired without a loss of retirement benefits03.28.2018 The Senate Finance Committee recommitted this bill back to the subcommittee. 03.21.2018 The Senate Finance State Retirement System subcommittee gave this bill a favorable report as amended. The amendment extends the exemption for retired employees to return to work without the earnings cap of $10,000. The exemption includes teachers and principals in critical areas and police officers hired as school resource officers or instructors at the Criminal Justice Academy.03.15.2018 The Senate Finance State Retirement System subcommittee carried this bill over.03.06.2018 The Senate Finance State Retirement System subcommittee carried this bill over.Summary of the bill as introduced: Allows certain employees to be hired without a loss of retirement benefits.
Sponsor: Michael Fanning House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/9/2018
Keywords: Retirement Senate Week of 03.05.2018 Week of 03.12.2018 Week of 03.19.2018 Week of 03.26.2018
Of Interest
S 0854 Designates that a member of the SC Retirement System is "in service" on the date his application for disability retirement is filed03.13.2018 The Senate Finance Committee gave this bill a favorable report.03.06.2018 The Senate Finance State Retirement System subcommittee gave this bill a favorable report.Summary of the bill as introduced: Designates that a member of the SC Retirement System "in service" on the date his application for disability retirement is filed if the last day the member was employed in the system occurred not more than one year before the date of filing.
Sponsor: Vincent Sheheen House Com: WM Senate Com: Fin
Status: House - Referred to Committee on Ways and Means Status Date: 4/3/2018
Keywords: Employment/Personnel Retirement Week of 01.08.2018 Week of 03.05.2018 Week of 03.12.2018
Of Interest
S 1040 Requires new employees to participate in a defined contribution retirement plan beginning July 1, 2019Summary of the bill as introduced: Requires new employees to participate in a defined contribution retirement plan beginning July 1, 2019.
Sponsor: Thomas Davis House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 2/22/2018
Keywords: Retirement Week of 02.19.2018
Of Interest
S 1131 Exempts certain participants in the state retirement system from the $10,000 earnings capSummary of the bill as introduced: Exempts certain participants in the state retirement system who participated in the TERI program as of October 31, 2017, from the $10,000 earnings cap.
Sponsor: John Scott House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 3/20/2018
Keywords: Retirement Week of 03.19.2018
Of Interest







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