reglab/housing_qa huggingface dataset:
SC Code § 9-13-140 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-140. Eligibility of person who was thirty-five years of age when first employed as a fireman.

 No person who had or has attained thirty-five years of age upon first becoming regularly employed as a member of the fire department shall ever be eligible for any benefits under this chapter unless he has been regularly and continuously a volunteer member of the same department since before he attained thirty-five years of age.  HISTORY: 1962 Code Section 61-394; 1952 Code Section 61-394; 1945 (44) 236.
SC Code § 9-13-150 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-150. Retirement after twenty-five years of service.

 Any fireman who has served in the fire department in the city or who has served in fire departments of one or more cities that come within the terms of this chapter for a period of twenty-five years shall, upon his written application, be retired and receive a monthly pension as provided by this chapter and applicable regulations, but in no event less than one hundred dollars. No fireman shall be required to so apply. This section shall also apply to those firemen retired prior to May 19, 1947, either because of physical disability or otherwise.  Provided, however, that the provisions of this section shall not be construed to expand and obligate the pension system in order to comply with the provisions of this section.  HISTORY: 1962 Code Section 61-395; 1952 Code Section 61-395; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236; 1946 (44) 1475; 1947 (45) 572; 1979 Act No. 79 Section 7.
SC Code § 9-13-160 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-160. Disability retirement.

 Any member of the fire department of any such city having a pension fund who shall, while in the performance of his duties in such fire department, become and is found, upon examination by a physician to be appointed by the board of trustees, to be physically or mentally disabled by reason of such service in such fire department to such extent that he is permanently unable to perform his accustomed tasks, shall be retired from service in such fire department by the board of trustees of the firemen's pension fund upon the certificate of such physician and by a majority vote of the board.  HISTORY: 1962 Code Section 61-398; 1952 Code Section 61-398; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236; 1947 (45) 572; 1979 Act No. 79 Section 8.
SC Code § 9-13-170 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-170. Amount of pension upon disability retirement.

 Upon such retirement the board of trustees shall order the payment to such disabled or retired member of such fire department monthly from the pension fund pursuant to regulations adopted by the board of trustees as authorized by this chapter, but in no event less than the sum of one hundred dollars a month.  HISTORY: 1962 Code Section 61-399; 1952 Code Section 61-399; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236; 1946 (44) 1475; 1947 (45) 572; 1979 Act No. 79 Section 9.
SC Code § 9-13-180 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-180. Effect of demotion for political reasons.

 Any person eligible for a pension under this chapter who has held the same position for five years with any department but who has been demoted for political reasons shall have his pension computed on the basis of the highest salary which he earned continuously for five years.  HISTORY: 1962 Code Section 61-402; 1952 Code Section 61-402; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236.
SC Code § 9-13-190 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-190. Funeral benefits.

 Any regular member of such fire department, or any retired member after the completion of five years' regular service, shall be entitled to a funeral benefit as set by board regulation having general applicability, upon death from any cause, such funeral benefit to be paid by the board of trustees from the pension fund to the nearest relative of such deceased fireman or pensioner.  HISTORY: 1962 Code Section 61-403; 1952 Code Section 61-403; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236; 1979 Act No. 79 Section 10.
SC Code § 9-13-200 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-200. Proration of benefits when fund is insufficient.

 If at any time, from any unforeseen cause, there shall not be sufficient money in any such pension fund to pay each person entitled to the benefit thereof the full amount per month as herein provided, then an equal percentage of such monthly payment shall be made to each beneficiary until the fund shall be replenished sufficiently to warrant the resumption of payment thereafter of full pension pay to each of such beneficiaries, unless the city council shall by direct appropriation supplement the pension fund sufficiently to enable the board of trustees to pay the full amounts per month as herein provided.  HISTORY: 1962 Code Section 61-404; 1952 Code Section 61-404; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236.
SC Code § 9-13-210 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-210. Fund shall contain minimum amount as a prerequisite to payment.

 No pensions or benefits shall be allowed, passed upon or paid by said board of trustees until there shall be in such pension fund at least one thousand dollars, exclusive of any anticipated tax, levy, appropriation or salary assessment.  HISTORY: 1962 Code Section 61-405; 1952 Code Section 61-405; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236.
SC Code § 9-13-220 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-220. Record of retired firemen.

 There shall be kept in the office of the board of trustees by the secretary a book to be known as the list of retired firemen. This book shall give a full and complete history and record of all the actions of the board of trustees in retiring all persons under this chapter. Such record shall give names, dates of joining the department, dates of retirement and the reasons thereof, of all persons retired.  HISTORY: 1962 Code Section 61-406; 1952 Code Section 61-406; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236.
SC Code § 9-13-230 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 13 - Firemen's Pension Funds In Cities|Section 9-13-230. Fund and payments not subject to execution or other legal process.

 No portion of any such pension fund shall, either before or after an order for its distribution by the board to such disabled and pensioned members of the fire department, be held, taken, subjected to or retained or levied on by virtue of any attachment, execution, injunction, writ, interlocutory or other order or decree or any process or proceeding whatsoever issued out of or by any court in this State for the payment or satisfaction in whole or in part of any debt, damage, claim, demand or judgment against any member, but such fund shall be sacredly held, kept, secured and distributed for the purpose of pensioning the persons, or the payment of funeral expenses, as named in this chapter, and for no other purpose whatsoever.  HISTORY: 1962 Code Section 61-407; 1952 Code Section 61-407; 1942 Code Section 7532; 1932 Code Sections 7551 to 7566; Civ. C. '22 Sections 4658 to 4673; Civ. C. '12 Sections 2968 to 2983; 1904 (24) 490; 1945 (44) 236.
SC Code § 9-15-10 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 15 - Annuity Contracts For Employees Of Schools And Educational Institutions|Section 9-15-10. School districts and state-supported institutions of higher learning authorized to purchase annuity contracts.

 The various school districts of this State and State-supported institutions of higher learning are authorized to enter into agreements to pay, at the request of their employees, a part of the incomes of such employees, not to exceed the exclusion allowance provided in Section 403(b)(2) of the Internal Revenue Code of the United States, for the purchase of annuity or other contracts which meet the requirements of Section 403(b) of the Internal Revenue Code.  HISTORY: 1962 Code Section 61-441; 1972 (57) 2399.
SC Code § 9-15-20 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 15 - Annuity Contracts For Employees Of Schools And Educational Institutions|Section 9-15-20. Payments for annuity contracts considered income.

 The amounts so paid for any such contract shall be considered as payment of salary to such employee for purposes of the Teachers' Retirement System, State aid, Social Security, State income taxes and other State purposes.  HISTORY: 1962 Code Section 61-442; 1972 (57) 2399.
SC Code § 9-16-10 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 16 - Retirement System Funds|Section 9-16-10. Definitions.

 As used in this chapter, unless a different meaning is plainly required by the context:  (1) "Assets" means all funds, investments, and similar property of the retirement system.  (2) "Beneficiary" means a person, other than the participant, who is designated by a participant or by a retirement program to receive a benefit under the program.  (3) "Board" means the Board of Directors of the South Carolina Public Employee Benefit Authority acting as trustee of the retirement system.  (3.5) "Commission" means the Retirement System Investment Commission.  (4) "Fiduciary" means a person who:  (a) exercises any authority to invest or manage assets of a system;  (b) provides investment advice for a fee or other direct or indirect compensation with respect to assets of a system or has any authority or responsibility to do so;  (c) is a member of the commission;  (d) is the commission's chief investment officer; or  (e) is the commission's chief executive officer.  (5) "Participant" means an individual who is or has been an employee enrolled in a retirement program and who is or may become eligible to receive or is currently receiving a benefit under the program. The term does not include an individual who is no longer an employee of an employer as defined by laws governing the retirement system and who has withdrawn his contributions from the retirement system.  (6) [Reserved]  (7) "Retirement program" means a program of rights and obligations which a retirement system establishes or maintains and which, by its express terms or as a result of surrounding circumstances:  (a) provides retirement benefits to qualifying employees and beneficiaries; or  (b) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond.  (8) "Retirement system" means the South Carolina Retirement System, Retirement System for Judges and Solicitors, Retirement System for Members of the General Assembly, National Guard Retirement System, and Police Officers Retirement System established pursuant to Chapters 1, 8, 9, 10 and 11 of this title.  (9) "Trustee" means the Board of Directors of the South Carolina Public Employee Benefit Authority.  HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005; 2005 Act No. 155, Section 4, eff January 1, 2006; 2012 Act No. 278, Pt IV, Subpt 2, Section 56, eff July 1, 2012; 2017 Act No. 13 (H.3726), Pt. III, Section 7, eff July 1, 2017.
SC Code § 9-16-20 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 16 - Retirement System Funds|Section 9-16-20. Investment and management authority of commission; holding assets in group trust under Section 401(a)(24) of the Internal Revenue Code.

 (A) All assets of a retirement system are held in trust. The commission has the exclusive authority, subject to this chapter and Section 9-1-1310, to invest and manage those assets.  (B) If the retirement system invests in a security issued by an investment company registered under the Investment Company Act of 1940 (15 U.S.C. Section 80a-1, et seq.), the assets of the system include the security, but not assets of the investment company.  (C) The board shall hold the assets of the retirement systems in a group trust under Section 401(a)(24) of the Internal Revenue Code that meets the requirements of Revenue Ruling 81-100, 1981-1 C.B. 326, as amended by Revenue Ruling 2004-67. Any group trust shall be operated or maintained exclusively for the commingling and collective investment of funds from other trusts that it holds. The board shall be permitted to hold in this group trust funds that consist exclusively of trust assets held under plans qualified under Internal Revenue Code Section 401(a), individual retirement accounts that are exempt under Internal Revenue Code Section 408(e), and eligible governmental plans that meet the requirements of Internal Revenue Code Section 457(b). For this purpose, a trust includes a custodial account under Internal Revenue Code Section 401(f) or under Internal Revenue Code Section 457(g)(3).  HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005; 2008 Act No. 311, Section 27, eff June 4, 2008.
SC Code § 9-16-30 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 16 - Retirement System Funds|Section 9-16-30. Delegation of functions by commission; standard of care; agent's duty and submission to jurisdiction.

 (A) The commission may delegate functions that a prudent person acting in a like capacity and familiar with those matters could properly delegate under the circumstances but final authority to invest cannot be delegated.  (B) The commission shall exercise reasonable care, skill, and caution in:  (1) selecting an agent;  (2) establishing the scope and terms of the delegation, consistent with the purposes and terms of the retirement program; and  (3) periodically reviewing the agent's performance and compliance with the terms of the delegation.  (C) In performing a delegated function, an agent owes a duty to the retirement system and to its participants and beneficiaries to comply with the terms of the delegation and, if a fiduciary, to comply with the duties imposed by Section 9-16-40.  (D) A commission member who complies with subsections (A) and (B) is not liable to the retirement system or to its participants or beneficiaries for the decisions or actions of the agent to whom the function was delegated.  (E) By accepting the delegation of a function from the commission, an agent submits to the jurisdiction of the courts of this State.  (F) The commission may limit the authority of an agent to delegate functions under this section.  (G) The commission shall cast shareholder proxy votes that are in keeping with its fiduciary duties that are consistent with the best interest of the trust fund and most likely to maximize shareholder value.  HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005; 2017 Act No. 13 (H.3726), Pt. III, Section 8, eff July 1, 2017.
SC Code § 9-16-40 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 16 - Retirement System Funds|Section 9-16-40. Standards for discharge of duty.

 A trustee, commission member, or other fiduciary shall discharge duties with respect to a retirement system:  (1) solely in the interest of the retirement systems, participants, and beneficiaries;  (2) for the exclusive purpose of providing benefits to participants and beneficiaries and paying reasonable expenses of administering the system;  (3) with the care, skill, and caution under the circumstances then prevailing which a prudent person acting in a like capacity and familiar with those matters would use in the conduct of an activity of like character and purpose;  (4) impartially, taking into account any differing interests of participants and beneficiaries;  (5) incurring only costs that are appropriate and reasonable; and  (6) in accordance with a good faith interpretation of this chapter.  HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005.
SC Code § 9-16-50 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 16 - Retirement System Funds|Section 9-16-50. Investment and management considerations by trustee; diversification; verification of facts; statement of investment objectives and policies.

 (A) In investing and managing assets of a retirement system pursuant to Section 9-16-40, the commission:  (1) shall consider among other circumstances:  (a) general economic conditions;  (b) the possible effect of inflation or deflation;  (c) the role that each investment or course of action plays within the overall portfolio of the retirement system;  (d) needs for liquidity, regularity of income, and preservation or appreciation of capital; and  (e) the adequacy of funding for the plan based on reasonable actuarial factors;  (2) shall diversify the investments of the retirement system unless the commission reasonably determines that, because of special circumstances, it is clearly prudent not to do so;  (3) shall make a reasonable effort to verify facts relevant to the investment and management of assets of a retirement system;  (4) may invest in any kind of property or type of investment consistent with this chapter and Section 9-1-1310;  (5) may consider benefits created by an investment in addition to investment return only if the commission determines that the investment providing these collateral benefits would be prudent even without the collateral benefits.  (B) The commission shall adopt a statement of investment objectives and policies for the retirement system. The statement must include the desired rate of return on assets overall, the desired rates of return and acceptable levels of risk for each asset class, asset-allocation goals, guidelines for the delegation of authority, and information on the types of reports to be used to evaluate investment performance. At least annually, the commission shall review the statement and change or reaffirm it. The relevant portion of this statement may constitute parts of the annual investment plan required pursuant to Section 9-16-330.  HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005.
SC Code § 9-16-60 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 16 - Retirement System Funds|Section 9-16-60. Evaluation of fiduciary's compliance with law not to be hindsight; decision-making evaluated in context of whole portfolio.

 (A) Compliance by the trustee, commission, or other fiduciary with Sections 9-16-30, 9-16-40, and 9-16-50 must be determined in light of the facts and circumstances existing at the time of the trustee's, commission's, or fiduciary's decision or action and not by hindsight.  (B) The commission's investment and management decisions must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the retirement system.  HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005.
SC Code § 9-16-70 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 16 - Retirement System Funds|Section 9-16-70. Liability for breach of duty; insurance by retirement system or fiduciary; disclosure of terms and conditions.

 (A) A commission member or other fiduciary who breaches a duty imposed by this chapter is personally liable to the retirement system for any losses resulting from the breach and any profits resulting from the breach or made by the commission member or other fiduciary through use of assets of the system by the commission member or other fiduciary. The commission member or other fiduciary is subject to other equitable remedies, as the court considers appropriate, including removal.  (B) An agreement that purports to limit the liability of a trustee or other fiduciary for a breach of duty under this chapter is void.  (C) The retirement system may insure a trustee, commission member, fiduciary, or itself against liability or losses occurring because of a breach of duty under this chapter.  (D) A trustee, commission member, or other fiduciary may insure against personal liability or losses occurring because of a breach of duty under this chapter if the insurance is purchased or provided by the individual trustee, commission member, or fiduciary, but a fiduciary who obtains insurance pursuant to this chapter must disclose all terms, conditions, and other information relating to the insurance policy to the retirement system.  HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005.
SC Code § 9-16-80 (2021)
2021 South Carolina Code of Laws|Title 9 - Retirement Systems|Chapter 16 - Retirement System Funds|Section 9-16-80. Investment meetings of board or commission as executive sessions exempt from disclosure; records of meetings.

 (A) Meetings by the board while acting as trustee of the retirement system, or meetings of the commission, or by its fiduciary agents to deliberate about, or make tentative or final decisions on, investments or other financial matters may be in executive session if disclosure of the deliberations or decisions would jeopardize the ability to implement a decision or to achieve investment objectives.  (B) A record of the board, or commission, or of its fiduciary agents that discloses deliberations about, or a tentative or final decision on, investments or other financial matters is exempt from the disclosure requirements of Chapter 4 of Title 30, the Freedom of Information Act, to the extent and so long as its disclosure would jeopardize the ability to implement an investment decision or program or to achieve investment objectives.  HISTORY: 1998 Act No. 371, Section 2, eff May 26, 1998; 2005 Act No. 153, Pt IV, Section 2, eff July 1, 2005.