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S 0420 - Changes the amount of compensation that may be earned when returning to work after retirement from the SCRS and SCPORS

Tracking Level: Of Interest
Sponsor: Rex Rice
Last Action: 1/19/2023 - Senate - Referred to Committee on Finance
Senate Committee:
Assigned To:
RetirementNext Bill

Staff Analysis of the Legislation
Summary of the bill as introduced: Changes the amount of compensation that may be earned when returning to work after retirement from the SCRS and SCPORS from $10,000 to an amount not to exceed the lower of the retirement earnings test exempt amounts for individuals below normal retirement age.

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Session 125 - (2023-2024)Printer Friendly
(pdf format)
S 0420 General Bill, By Rice
Summary: Retirement system, earning limitations return to work to covered employment in SCRS and SCPORS
    A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTIONS 9-1-1790 AND 9-11-90, RELATING TO THE AMOUNT OF COMPENSATION THAT MAY BE EARNED UPON RETURNING TO COVERED EMPLOYMENT UNDER THE SOUTH CAROLINA RETIREMENT SYSTEM AND THE POLICE OFFICERS RETIREMENT SYSTEM, RESPECTIVELY, SO AS TO CHANGE THE AMOUNT THAT MAY BE EARNED FROM TEN THOUSAND DOLLARS TO AN AMOUNT NOT TO EXCEED THE LOWER OF THE RETIREMENT EARNINGS TEST EXEMPT AMOUNTS FOR INDIVIDUALS BELOW NORMAL RETIREMENT AGE.
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01/19/23Senate Introduced and read first time (Senate Journal-page 4)
01/19/23Senate Referred to Committee on Finance (Senate Journal-page 4)


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