Members under age 75 can keep the basic benefit amount at retirement, at group rates. After age 75, must be converted to individual plan. Costs are provided in the plan booklet. The amount shown is your monthly Optional Life premium. Eligible dependents also may be insured.
Additional information is provided in the plan booklet.
This benefit applies to members of the South Carolina Retirement System. At the death of a contributing member who has at least 12 months of retirement service credit, a benefit equal to the member's annual budgeted base salary is paid to the beneficiary. The beneficiary is also entitled to the member's contributions plus 6 percent interest. If the member had 15 years of retirement service credit, the beneficiary may elect to take the refund of contributions in the form of a lifetime annuity. Your participation is completely voluntary.