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H 3134 - Removes the $10,000 earnings cap on retired employees returning to work

Tracking Level: Of Interest
Sponsor: Thomas Pope (R)
Last Action: 3/2/2021 - House - Member(s) request name added as sponsor: M.M.Smith
House Committee: WM
Assigned To:
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Staff Analysis of the Legislation

02.25.2021 The House Ways and Means General Government subcommittee gave this bill a favorable report.
Summary of the bill as introduced: Removes the $10,000 earnings cap on retired employees returning to employment who have not been engaged to perform services for an employer who participates in the SC Retirement System or the SC Police Officers Retirement System in the last 12 months.

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Instructions


 
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Session 124 - (2021-2022)Printer Friendly
(pdf format)
H 3134 General Bill, By Pope, Bryant, Davis, Wooten, B. Newton, Magnuson, V.S. Moss, Felder, Long, Forrest, Oremus, Caskey, Yow, McGarry and M.M. Smith
Summary: SCRS and PORS
    A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTIONS 9-1-1220 AND 9-11-240 SO AS TO PROVIDE THAT IF A PARTICIPATING EMPLOYER IN THE SOUTH CAROLINA RETIREMENT SYSTEM OR THE POLICE OFFICERS RETIREMENT SYSTEM, RESPECTIVELY, ENGAGES A CERTAIN MEMBER OF THE SYSTEM TO PERFORM SERVICES, THEN THE PARTICIPANT EMPLOYER SHALL PAY TO THE SYSTEM THE EMPLOYER CONTRIBUTION THAT WOULD BE REQUIRED IF THE MEMBER RECEIVED THE COMPENSATION AS AN ACTIVE CONTRIBUTING MEMBER OF THE SYSTEM; AND TO AMEND SECTIONS 9-1-1790 AND 9-11-90, RELATING TO RETIREMENT BENEFITS AFTER RETURNING TO COVERED EMPLOYMENT UNDER THE SOUTH CAROLINA RETIREMENT SYSTEM AND THE POLICE OFFICERS RETIREMENT SYSTEM, RESPECTIVELY, SO AS TO REMOVE THE TEN THOUSAND DOLLAR EARNINGS LIMITATION ON AN EMPLOYEE RETURNING TO EMPLOYMENT WHO HAS NOT BEEN ENGAGED TO PERFORM SERVICES FOR A PARTICIPATING EMPLOYER IN THE SYSTEM OR ANY OTHER SYSTEM FOR AT LEAST TWELVE CONSECUTIVE MONTHS SUBSEQUENT TO RETIREMENT.
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12/09/20House Prefiled
12/09/20House Referred to Committee on Ways and Means
01/12/21House Introduced and read first time (House Journal-page 84)
01/12/21House Referred to Committee on Ways and Means (House Journal-page 84)
01/13/21House Member(s) request name added as sponsor: Caskey
01/27/21House Member(s) request name added as sponsor: Yow
02/09/21House Member(s) request name added as sponsor: McGarry
03/02/21House Member(s) request name added as sponsor: M.M.Smith



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