reglab/statecodes huggingface dataset:
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 1 - South Carolina Retirement System › Section 9-1-1950. Minimum allowance for certain members of General Assembly.

Any member of the General Assembly who may retire under the provisions of the South Carolina Retirement Act and has twenty or more years of creditable service shall be paid in the same manner as provided in Section 9-1-1910 a monthly sum in addition to the retirement allowance he may receive under such act, to provide him a minimum of eighty dollars per month, plus one dollar per month for each completed year of such service in excess of twenty years. Should such member of the General Assembly elect to receive a reduced retirement allowance as provided in such act, he shall be paid under the provisions of this section only such amount as would be paid under this section had he not elected such optional allowance.
HISTORY: 1962 Code Section 61-214; 1965 (54) 622.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 1 - South Carolina Retirement System › Section 9-1-1960. Additional payments to certain members of the General Assembly effective July 1, 1972.

Effective July 1, 1972, any member of the General Assembly who has retired or may retire under the provisions of the South Carolina Retirement Act and has twenty or more years of creditable service shall be paid in the same manner as provided in Section 9-1-1910 a monthly sum in addition to the retirement allowance he may receive under such act, to provide him a gross minimum of one hundred and fifty dollars per month, plus one dollar per month for each completed year of such service in excess of twenty years. Should such member of the General Assembly elect to receive a reduced retirement allowance as provided in such act, he shall be paid under the provisions of this section only such amount as would be paid under this section had he not elected such optional allowance.
HISTORY: 1962 Code Section 61-214.1; 1972 (57) 2590.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 1 - South Carolina Retirement System › Section 9-1-1970. Compensation used for determining benefits to be subject to federal limitations.

Effective as of January 1, 1996, the annual compensation of a member taken into account for determining all benefits provided under this retirement system is subject to the limitations set forth in Section 401(a)(17) of the Internal Revenue Code of 1986 and any regulations promulgated thereunder, as adjusted for any cost-of-living increases in accordance with Section 401(a)(17)(B) of the Internal Revenue Code. Annual compensation means compensation during the plan year or such other consecutive twelve-month period over which compensation is otherwise determined under the retirement system hereinafter referred to as the determination period. The cost-of-living adjustment in effect for a calendar year applies to annual compensation for the determination period that begins with or within such calendar year. However, the limitation on compensation does not apply to the compensation of an individual who became a member of this retirement system before January 1, 1996.
HISTORY: 1995 Act No. 48, Section 1, eff upon approval (became law without the Governor's signature on May 18, 1995); 2008 Act No. 311, Section 9, eff June 4, 2008.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 1 - South Carolina Retirement System › Section 9-1-1975. Compliance with USERRA.

Effective December 12, 1994, and notwithstanding any provision in this chapter to the contrary, contributions, benefits, and service credit with respect to qualified military service shall be provided in accordance with Section 414(u) of the Internal Revenue Code.
HISTORY: 2008 Act No. 311, Section 10, eff June 4, 2008.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 1 - South Carolina Retirement System › Section 9-1-2210. Repealed.

HISTORY: Former Section, titled Teacher and Employee Retention Incentive Program; operation, had the following history: 2001 Act No. 1, Part II, Section 2A1, eff January 1, 2001; 2005 Act No. 153, Pt II, Section 2, eff July 1, 2005; 2007 Act No. 112, Section 5, eff upon approval (became law without the Governor's signature on June 27, 2007); 2012 Act No. 278, Pt I, Section 15, eff July 1, 2012. Repealed by 2012 Act No. 278, Part I, Section 16, eff July 1, 2018.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-10. Declaration of policy.

In order to extend to employees of the State and its political subdivisions, and to dependents and survivors of such employees, the basic protection accorded to others by the old age and survivors insurance system embodied in the Social Security Act, it is hereby declared to be the policy of the legislature, subject to the limitations of this chapter, that such steps be taken to provide such protection to employees of the State and its political subdivisions on as broad a basis as is permitted under the Social Security Act and the provisions of this chapter.
HISTORY: 1962 Code Section 61-221.1; 1954 (48) 1497; 1955 (49) 51.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-30. Exemptions.

Specifically excepted from the provisions of this chapter are services performed in a coverage group participating in the South Carolina Retirement System on March 12, 1954.
HISTORY: 1962 Code Section 61-221.2; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-110. State agent may enter into agreement with Secretary of Health, Education and Welfare.

The State agent, with the approval of the Governor, is hereby authorized to enter on behalf of the State into an agreement with the Secretary of the Department of Health, Education and Welfare of the United States, consistent with the terms and provisions of this chapter, for the purpose of extending the benefits of the Federal old age and survivors insurance system to employees of the State or any political subdivision thereof with respect to services specified in such agreement which constitute "employment" as defined in Section 9-3-20.
HISTORY: 1962 Code Section 61-221.11; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-120. Terms of agreement.

Such agreement may contain such provisions relating to coverage, benefits, contributions, effective date, modification and termination of the agreement, administration and other appropriate provisions as the State agent and the Secretary of the Department of Health, Education and Welfare of the United States shall agree upon, but, except as may be otherwise required by or under the Social Security Act as to the services to be covered, such agreement shall provide in effect that:
(1) Benefits will be provided for employees whose services are covered by the agreement, and their dependents and survivors, on the same basis as though such services constituted employment within the meaning of Title II of the Social Security Act;
(2) The State will pay to the Secretary of the Treasury, at such time or times as may be prescribed under the Social Security Act, contributions with respect to wages as defined in Section 9-3-20 equal to the sum of the taxes which would be imposed by Sections 1400 and 1410 of the Federal Insurance Contributions Act if the services covered by the agreement constituted employment within the meaning of that act;
(3) Such agreement shall be effective with respect to services in employment covered by the agreement performed after a date specified therein, except that such effective date may be made retroactive only to the extent permitted by the applicable provision of the Social Security Act; and
(4) All services which constitute employment as defined in Section 9-3-20, are performed in the employ of the State or a political subdivision thereof, and are covered by a plan which is in conformity with the terms of the agreement and has been approved by the State agent under Section 9-3-130, shall be covered by the agreement.
HISTORY: 1962 Code Section 61-221.12; 1954 (48) 1497; 1957 (50) 21; 1958 (50) 1649; 1961 (52) 28.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-130. Submission of plans by political subdivisions; approval of plans by state agent.

Each political subdivision of the State is hereby authorized to submit for approval by the State agent a plan for extending the benefits of Title II of the Social Security Act, in conformity with applicable provisions of such act, to employees of such political subdivision. Each such plan and any amendment thereof shall be approved by the State agent if he finds that such plan, or such plan as amended, is in conformity with such requirements as are provided in regulations of the State agent, except that no such plan shall be approved unless:
(1) It is in conformity with the requirements of the Social Security Act and with the agreement entered into under Sections 9-3-110 and 9-3-120;
(2) It provides that all services which constitute employment as defined in Section 9-3-20 and are performed in the employ of the political subdivision by employees thereof, shall be covered by the plan;
(3) It specifies the source or sources from which the funds necessary to make the payments required by Sections 9-3-520 and 9-3-540 are expected to be derived and contains reasonable assurance that such sources will be adequate for such purpose;
(4) It provides for such methods of administration of the plan by the political subdivision as are found by the State agent to be necessary for the proper and efficient administration of the plan;
(5) It provides that the political subdivision will make such reports, in such form and containing such information, as the State agent may from time to time require, and comply with such provisions as the State agent or the Secretary of the Department of Health, Education and Welfare of the United States may from time to time find necessary to assure the correctness and verification of such reports; and
(6) It authorizes the State agent to terminate the plan in its entirety, in the discretion of the State agent, if he finds that there has been a failure to comply substantially with any provision contained in such plan, such termination to take effect at the expiration of such notice on such conditions as may be provided by regulations of the State agent and may be consistent with the provisions of the Social Security Act.
HISTORY: 1962 Code Section 61-221.13; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-140. Notice and hearing before disapproval or termination of plans.

The State agent shall not finally refuse to approve a plan submitted by a political subdivision under Section 9-3-130, and shall not terminate an approved plan, without reasonable notice and opportunity for hearing to the political subdivision affected thereby.
HISTORY: 1962 Code Section 61-221.14; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-150. Referendum on social security coverage for persons under certain retirement systems.

(1) The Governor is empowered to authorize a referendum, and to designate any agency or individual to supervise its conduct, in accordance with the requirements of Section 218 (d) (3) of the Social Security Act, on the question of whether service in positions covered by a retirement system, other than the South Carolina Retirement System established by the State or by a political subdivision thereof, should be excluded from or included under the agreement provided for in Sections 9-3-110 and 9-3-120. The notice of the referendum required in Section 218 (d) (3) (C) of the Social Security Act to be given to employees shall contain or shall be accompanied by a statement, in such form and such detail as the agency or individual designated to supervise the referendum shall deem necessary and sufficient, to inform the employees of the rights which will accrue to them and their dependents and survivors, and the liability to which they will be subject, if their services are included under the agreement provided for in Sections 9-3-110 and 9-3-120.
(2) Upon receiving evidence satisfactory to him that with respect to any such referendum the conditions specified in Section 218 (d) (3) of the Social Security Act have been met, the Governor shall so certify to the Secretary of Health, Education and Welfare.
HISTORY: 1962 Code Section 61-221.15; 1955 (49) 697.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-160. Social security coverage for justices and judges.

A referendum having been held pursuant to Section 9-3-150 among the members of the judiciary participating in the judges' retirement system provided for in Sections 9-7-10 to 9-7-90, and the official authorized to approve payments of warrants for the salaries of the justices and judges having entered into an agreement pursuant to the provisions of this chapter, with the State agent for social security to effectuate such coverage for justices and judges, the State Treasurer shall pay out of the general funds in the State Treasury, on the warrant of such official authorized to approve payments of warrants for the salaries of the justices and judges, such funds as may be necessary, from time to time, as employer contributions by the State under such agreement.
HISTORY: 1962 Code Section 61-221.16; 1957 (50) 21.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-310. Compensation of state agent.

The State agent shall receive four thousand dollars as administrator of this chapter.
HISTORY: 1962 Code Section 61-221.21; 1954 (48) 1497; 1957 (50) 267; 1960 (51) 1518.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-320. Charges or assessments against political subdivisions for expenses of administration.

The State agent shall have the authority to promulgate rules and regulations under which the State agency may make a reasonable charge or assessment against any political subdivision whose employees shall be included in any coverage agreement under any plan of coverage of employees as provided by the provisions of this chapter. Such charge or assessment shall be determined by the State agent and shall be apportioned among the various political subdivisions of government in a rateable or fair manner, and the funds derived from such charge or assessment shall be used exclusively by the State agency to defray the cost and expense of administering the provisions of this chapter. Such amount shall be assessed against each such political subdivision as is necessary to pay its share of the expense of providing supplies, necessary employees and clerks, records and other proper expenses necessary for the administration of this chapter by the State agency.
HISTORY: 1962 Code Section 61-221.22; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-330. Collection of delinquent assessments or charges made against political subdivisions.

In case of refusal to pay such charge or assessment on the part of any political subdivision as defined in this chapter, or in case such charge or assessment remains unpaid for a period of thirty days, the State agent may maintain a suit in a court of competent jurisdiction for the recovery of such charge or assessment, or the amount of such charge or assessment, or such charge or assessment may, at the request of the State agent, be deducted from any other moneys payable to such subdivision by any department or agency of the State.
HISTORY: 1962 Code Section 61-221.23; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-340. Deposit and disbursement of funds derived from assessments or charges against political subdivisions.

The funds accumulated and derived from the assessments and charges provided for in Section 9-3-320 shall be deposited by the State agent in some safe and reliable bank or depository chosen by the State agent, and the State agent shall issue such checks or vouchers as may be necessary to defray the above-mentioned expenses of administration.
HISTORY: 1962 Code Section 61-221.24; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-350. Rules and regulations.

The State agent shall make and publish such rules and regulations, not inconsistent with the provisions of this chapter, as he finds necessary or appropriate to the efficient administration of the functions with which he is charged under this chapter.
HISTORY: 1962 Code Section 61-221.25; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-360. State agent shall make studies, reports, and recommendations.

The State agent shall make studies concerning the problem of old age and survivors insurance protection for employees of the State and political subdivisions or instrumentalities thereof and concerning the operation of agreements made and plans approved under this chapter and shall submit a report to the legislature at the beginning of each regular session, covering the administration and operation of this chapter during the preceding calendar year, including such recommendations for amendments to this chapter as he considers proper.
HISTORY: 1962 Code Section 61-221.26; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-510. Contributions of state employees; collection; adjustments and refunds.

(1) Every employee of the State whose services are covered by an agreement entered into under Sections 9-3-110 and 9-3-120 shall be required to pay for the period of such coverage, into the contribution fund established by Section 9-3-550, contributions, with respect to wages as defined in Section 9-3-20, equal to the amount of tax which would be imposed by Section 1400 of the Federal Insurance Contributions Act if such services constituted employment within the meaning of that act. Such liability shall arise in consideration of the employee's retention in the service of the State, or his entry upon such service, after the enactment of this chapter.
(2) The contribution imposed by this section shall be collected by deducting the amount of the contribution from wages as and when paid, but failure to make such deduction shall not relieve the employee from liability for such contribution.
(3) If more or less than the correct amount of the contribution imposed by this section is paid or deducted with respect to any remuneration, proper adjustments, or refund if adjustment is impracticable, shall be made, without interest, in such manner and at such times as the State agent shall prescribe.
HISTORY: 1962 Code Section 61-221.31; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-520. Contributions of political subdivisions.

Each political subdivision as to which a plan has been approved under Section 9-3-130 shall pay into the contribution fund, with respect to wages as defined in Section 9-3-20, at such time or times as the State agent may by regulation prescribe, contributions in the amounts and at the rates specified in the applicable agreement entered into by the State agent under Sections 9-3-110 and 9-3-120.
HISTORY: 1962 Code Section 61-221.32; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-530. Deductions from wages of employees of political subdivisions.

Each political subdivision required to make payments under Section 9-3-520 is authorized, in consideration of the employee's retention in, or entry upon, employment after enactment of this chapter, to impose upon each of its employees, as to services which are covered by an approved plan, a contribution with respect to his wages as defined in Section 9-3-20 not exceeding the amount of tax which would be imposed by Section 1400 of the Federal Insurance Contributions Act if such services constituted employment within the meaning of that act, and to deduct the amount of such contribution from his wages as and when paid. Contributions so collected shall be paid into the contribution fund in partial discharge of the liability of such political subdivision or instrumentality under Section 9-3-520. Failure to deduct such contribution shall not relieve the employee or employer of liability therefor.
HISTORY: 1962 Code Section 61-221.33; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-540. Procedures for collection of delinquent contributions from political subdivisions.

Delinquent payments due under Section 9-3-520 must be charged interest compounded annually based on the adjusted prime rate charged by banks, rounded to the nearest full percent. The effective date of the adjustment must be based on the twelve-month period ending March thirty-first of any calendar year and must be established by April fifteenth for an effective date of the next first day of July. The adjusted prime rate charged by banks means the average predominant prime rate quoted by commercial banks to large businesses as determined by the Board of Governors of the Federal Reserve System. The adjusted prime rate used must be the adjusted prime rate charged by the bank during March of that year. Delinquent payments may be recovered by action in a court of competent jurisdiction against the political subdivision liable therefor or may, at the request of the state agent, be deducted from any other monies payable to such subdivision by any department or agency of the State. Upon notification of the state agent to the State Treasurer and Comptroller General as to a delinquency of any payments due under Section 9-3-520 or of the failure of any political subdivision to make required reports, any distributions which might otherwise be made to the political subdivision from any funds of the State shall be withheld from such political subdivision until notice from the state agent to the State Treasurer that such political subdivision is no longer in default in its payments or in filing the required reports.
HISTORY: 1962 Code Section 61-221.34; 1954 (48) 1497; 1985 Act No. 201, Part II, Section 47D.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-550. Contribution fund established; items to be deposited; administration.

There is hereby established a special fund to be known as the contribution fund. Such fund shall consist of and there shall be deposited in such fund:
(1) All contributions, interest and penalties collected under Sections 9-3-510 to 9-3-540;
(2) All moneys appropriated thereto under this chapter;
(3) Any property or securities and earnings thereof acquired through the use of moneys belonging to the fund;
(4) Interest earned upon any moneys in the fund; and
(5) All sums recovered upon the bond of the custodian or otherwise for losses sustained by the fund and all other moneys received for the fund from any other source.
All moneys in the fund shall be mingled and undivided. Subject to the provisions of this chapter, the State agent is vested with full power, authority and jurisdiction over the fund, including all moneys and property or securities belonging thereto, and may perform any and all acts, whether or not specifically designated, which are necessary to the administration thereof and are consistent with the provisions of this chapter.
HISTORY: 1962 Code Section 61-221.35; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-560. State Treasurer to be custodian of contribution fund; payment of warrants drawn on fund.

The Treasurer of the State shall be ex officio treasurer and custodian of the contribution fund and shall administer such fund in accordance with the provisions of this chapter and the directions of the State agent and shall pay all warrants drawn upon it in accordance with the provisions of this article and with such regulations as the State agent may prescribe pursuant hereto.
HISTORY: 1962 Code Section 61-221.36; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-570. Contribution fund to be kept separate; withdrawals; payments to Secretary of Treasury.

The contribution fund shall be established and held separate and apart from any other funds or moneys of the State and shall be used and administered exclusively for the purpose of this chapter. Withdrawals from such fund shall be made for, and solely for (a) payment of the amounts required to be paid to the Secretary of the Treasury pursuant to an agreement entered into under Sections 9-3-110 and 9-3-120, (b) payment of refunds provided for in Section 9-3-510 and (c) refunds of overpayments, not otherwise adjustable, made by a political subdivision or instrumentality.
From the contribution fund the custodian of the funds shall pay to the Secretary of the Treasury such amounts and at such time or times as may be directed by the State agent, in accordance with any agreement entered into under Sections 9-3-110 and 9-3-120 and the Social Security Act.
HISTORY: 1962 Code Section 61-221.37; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 3 - Coverage Of Public Officers And Employees Under Federal Social Security Act › Section 9-3-580. Additional appropriations to contribution fund.

There are hereby authorized to be appropriated annually to the contribution fund, in addition to the contributions collected and paid into the contribution fund under Sections 9-3-510 to 9-3-540, to be available for the purposes of Section 9-3-570 until expended, such additional sums as are found to be necessary in order to make the payments to the Secretary of the Treasury which the State is obligated to make pursuant to an agreement entered into under Sections 9-3-110 and 9-3-120.
The State agent shall submit to each regular session of the legislature, at least ninety days in advance of the beginning of such session, an estimate of the amounts authorized to be appropriated to the contribution fund by this section for the next appropriation period.
HISTORY: 1962 Code Section 61-221.38; 1954 (48) 1497.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 4 - South Carolina Public Employee Benefit Authority › Section 9-4-15. Obligation to defend and indemnify.

The State shall defend the members of the Board of Directors of the South Carolina Public Employee Benefit Authority (PEBA) established pursuant to this article against a claim or suit that arises out of or by virtue of their performance of official duties on behalf of the authority and must indemnify these directors for a loss or judgment incurred by them as a result of the claim or suit, without regard to whether the claim or suit is brought against them in their individual or official capacities, or both. The State shall defend officers and management employees of PEBA against a claim or suit that arises out of or by virtue of performance of official duties unless the officer or management employee was acting in bad faith and must indemnify these officers, and management employees for a loss or judgment incurred by them as a result of such claim or suit, without regard to whether the claim or suit is brought against them in their individual or official capacities, or both. This commitment to defend and indemnify extends to PEBA directors, officers, and management employees after they have left their office or employment with PEBA, as applicable, if the claim or suit arises out of or by virtue of their performance of official duties on behalf of PEBA.
HISTORY: 2013 Act No. 24, Section 1, eff May 3, 2013.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 4 - South Carolina Public Employee Benefit Authority › Section 9-4-30. Retirement division.

(A)(1) The South Carolina Public Employee Benefit Authority shall operate a retirement division to administer the various retirement systems and retirement programs pursuant to Title 9 and, effective after December 31, 2013, to administer the deferred compensation program pursuant to Chapter 23, Title 8.
(2) Expenses incurred by the Retirement Division in administering, after December 31, 2013, the deferred compensation plans must be reimbursed to the Retirement Division from funds generated by the deferred compensation plans available to pay for administrative expenses.
(B) The South Carolina Public Employee Benefits Authority shall provide copies of annual actuarial valuations of all retirement systems requiring such annual valuations to the General Assembly by the second Tuesday in January of every year.
HISTORY: 2012 Act No. 278, Pt IV, Subpt 1, Section 30.A, eff July 1, 2012.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 4 - South Carolina Public Employee Benefit Authority › Section 9-4-40. Audit.

Every four years the State Auditor shall employ a private audit firm to perform a fiduciary audit on the South Carolina Public Employee Benefit Authority. The audit firm must be selected by the State Auditor. A report from the private audit firm must be completed by January 15, 2020, and every four years after that time. Upon completion, the report must be submitted to the Governor, the President of the Senate, the Speaker of the House of Representatives, the Chairman of the Senate Finance Committee, and the Chairman of the House Ways and Means Committee.
HISTORY: 2012 Act No. 278, Pt IV, Subpt 1, Section 30.A, eff July 1, 2012; 2017 Act No. 13 (H.3726), Pt. II, Section 5, eff July 1, 2017; 2018 Act No. 148 (H.4868), Section 1, eff July 1, 2018; 2019 Act No. 1 (S.2), Section 38, eff January 31, 2019.
Effect of Amendment
2018 Act No. 148, Section 1, in the third sentence, substituted "January 15, 2020" for "January 15, 2019".
2019 Act No. 1, Section 38, in the fourth sentence, substituted "President of the Senate" for "President Pro Tempore of the Senate".
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 4 - South Carolina Public Employee Benefit Authority › Section 9-4-50. Transaction register of all funds expended.

(A) The South Carolina Public Employee Benefit Authority shall maintain a transaction register that includes a complete record of all funds expended, from whatever source for whatever purpose. The register must be prominently posted on the authority's Internet website and made available for public viewing and downloading.
(1)(a) The register must include for each expenditure:
(i) the transaction amount;
(ii) the name of the payee;
(iii) the identification number of the transaction; and
(iv) a description of the expenditure, including the source of funds, a category title, and an object title for the expenditure.
(b) The register must include all reimbursements for expenses, but must not include an entry for:
(i) salary, wages, or other compensation paid to individual employees; and
(ii) retirement benefits, deferred compensation plan distributions, insurance reimbursements, or other payments paid to individual employees, members, or participants, as applicable, pursuant to programs administered by the board.
(c) The register must not include a social security number.
(d) The register must be accompanied by a complete explanation of any codes or acronyms used to identify a payee or an expenditure.
(e) The register may exclude any information that can be used to identify an individual employee or student.
(f) This section does not require the posting of any information that is not required to be disclosed under Chapter 4, Title 30.
(2) The register must be searchable and updated at least once a month. Each monthly register must be maintained on the Internet website for at least three years.
(B) Any information that is expressly prohibited from public disclosure by federal or state law or regulation must be redacted from any posting required by this section.
(C) If the authority has a question or issue relating to technical aspects of complying with the requirements of this section or the disclosure of public information under this section, it shall consult with the Office of the Comptroller General, which may provide guidance to the authority.
HISTORY: 2012 Act No. 278, Pt IV, Subpt 1, Section 30.A, eff July 1, 2012.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-20. Declaration of policy.

In order to extend to all employees of the State, and of other employers within the meaning of subsection (5) of Section 9-1-10, and to dependents and survivors of such employees, the basic protection accorded to others by the old age and survivors insurance system embodied in the Social Security Act, it is hereby declared to be the policy of the legislature, subject to the limitations of this chapter, that such steps be taken as to provide such protection to employees of the State and of such other employers on as broad a basis as is permitted under the Social Security Act. It is also the policy of the legislature that the protection afforded employees who are in positions covered by the South Carolina Retirement System on the date an agreement under this chapter is made applicable to service performed in such positions, or who are receiving periodic benefits under such Retirement System at such time, will not be impaired as a result of making the agreement so applicable or as a result of legislative enactment in anticipation thereof.
HISTORY: 1962 Code Section 61-227; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-30. Definitions.

For the purposes of this chapter the following terms shall have the following meanings unless a different meaning is plainly required by the context:
(1) The term "wages" means all remuneration for employment as defined herein, including the cash value of all remuneration paid in any medium other than cash, except that such term shall not include that part of such remuneration which, even if it were for "employment" within the meaning of the Federal Insurance Contributions Act, would not constitute "wages" within the meaning of that act.
(2) The term "participating employers" shall mean this State and such boards, agencies, political subdivisions, departments and organizations as are employers within the meaning of subsection (5) of Section 9-1-10.
(3) The term "employment" means any services performed by an employee in the employ of a participating employer for such employer, except
(a) service which in the absence of an agreement entered into under this chapter would constitute "employment" as defined in the Social Security Act; or
(b) service which under the Social Security Act may not be included in an agreement between the State and Secretary of Health, Education and Welfare of the United States entered into under this chapter; or
(c) services of an emergency nature or services performed by a student.
Service which under the Social Security Act may be included in an agreement only upon certification by the Governor in accordance with Section 218 (d) (3) of that act shall be included in the term "employment," the Governor having issued, with respect to such service, a certificate to the Secretary of Health, Education and Welfare pursuant to Section 8 of Act No. 33 of 1955.
(4) The term "employee" includes any officer of any participating employer.
(5) The term "State agency" means the South Carolina Retirement System.
(6) The term "State agent" means the Director of the South Carolina Retirement System.
(7) The term "Secretary of Health, Education and Welfare of the United States" includes any individual to whom the Secretary of Health, Education and Welfare has delegated any functions under the Social Security Act with respect to coverage under such act of employees of states and their political subdivisions.
(8) The term "Social Security Act" means the Act of Congress approved August 14, 1935, Chapter 531, 49 Stat. 620, officially cited as the "Social Security Act," as such act has been and may from time to time be amended.
(9) The term "Federal Insurance Contributions Act" means subchapter A of Chapter 9 of the Federal Internal Revenue Code of 1939 and subchapters A and B of Chapter 21 of the Federal Internal Revenue Code of 1954, as such codes have been and may from time to time be amended.
(10) The term "employee tax" means the tax imposed by Section 1400 of such Code of 1939 and Section 3101 of such Code of 1954.
HISTORY: 1962 Code Section 61-226; 1955 (49) 43; 1956 (49) 1602.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-40. Chapter 3 of this Title not affected.

The provisions of Chapter 3 of this Title are not in conflict with this chapter, and Chapter 3 of this Title is reaffirmed and continued as a part of the general law of this State.
HISTORY: 1962 Code Section 61-228; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-50. State agent shall make rules and regulations.

The State agent shall make and publish such rules and regulations, not inconsistent with the provisions of this chapter, as he finds necessary or appropriate to the efficient administration of the functions with which he is charged under this chapter.
HISTORY: 1962 Code Section 61-229; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-60. State agent shall submit report to legislature.

The State agent shall submit a report to the legislature at the beginning of each regular session, covering the administration and operation of this chapter during the preceding calendar year, including such recommendations for amendments to this chapter as he considers proper.
HISTORY: 1962 Code Section 61-230; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-210. State agent may enter into agreement with Secretary of Health, Education and Welfare.

The State agent, with the approval of the Governor, may enter on behalf of the State into an agreement with the Secretary of Health, Education and Welfare of the United States, consistent with the terms and provisions of this chapter, for the purpose of extending the benefits of the Federal old age and survivors insurance system to employees of participating employers with respect to services specified in such agreement which constitute employment.
HISTORY: 1962 Code Section 61-231; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-220. Agreement may be made through modification of existing agreement.

The agreement authorized in Section 9-5-210 may, in the discretion of the State agent, be made through a modification of any existing agreement previously made on behalf of the State with the Secretary of Health, Education and Welfare of the United States.
HISTORY: 1962 Code Section 61-232; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-230. Terms of agreement.

The agreement authorized by Sections 9-5-210 and 9-5-220 may contain such provisions relating to coverage, benefits, contributions, effective date, modification and termination of the agreement, administration and other appropriate provisions as the State agent and Secretary of Health, Education and Welfare of the United States shall agree upon, but, except as may be otherwise required by or under the Social Security Act as to the services to be covered, such agreement shall provide in effect that:
(1) Benefits will be provided for employees whose services are covered by the agreement, and their dependents and survivors, on the same basis as though such services constituted employment within the meaning of Title II of the Social Security Act;
(2) The State will pay to the Secretary of the Treasury, at such time or times as may be prescribed under the Social Security Act, contributions with respect to wages equal to the sum of the taxes which would be imposed by the Federal Insurance Contributions Act if the services covered by the agreement constituted employment within the meaning of that act;
(3) Such agreement shall be effective with respect to services in employment covered by the agreement performed after a date specified therein, except that such effective date may be made retroactive only to the extent permitted by the applicable provision of the Social Security Act.
(4) All services which constitute employment as defined in Section 9-5-30 are performed in the employ of a participating employer, and are covered by the South Carolina Retirement Act, shall be covered by the agreement; and
(5) The agreement shall include all services described in paragraph (3) and paragraph (4) of this section and performed by individuals to whom Section 218 (c) (3) (C) of the Social Security Act is applicable and shall provide that the service described in those paragraphs of any such individual shall continue to be covered by the agreement in case he thereafter becomes eligible to be a member of the South Carolina Retirement System.
HISTORY: 1962 Code Section 61-233; 1955 (49) 43; 1957 (50) 21; 1958 (50) 1649; 1961 (52) 27.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-240. South Carolina Retirement System deemed one system and not a separate system under Social Security Act.

For purposes of this chapter, the South Carolina Retirement System shall be deemed to constitute one retirement system, and in no event shall the South Carolina Retirement System be deemed to be, with respect to any participating employer, a separate retirement system within the meaning of Section 218 (d) (6) of the Social Security Act.
HISTORY: 1962 Code Section 61-234; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-410. Contributions of employees; deduction from wages; refunds and adjustments.

(1) Every employee whose services are covered by an agreement entered into under Sections 9-5-210 to 9-5-230 shall be required to pay for the period of service with respect to which such agreement is effective, into the contribution fund established by Section 9-5-460, contributions with respect to wages equal to the amount of employee tax which would be imposed by the Federal Insurance Contributions Act if such services constituted employment within the meaning of that act. Such liability shall arise in consideration of the employee's retention in the service of the participating employer, or his entry upon such service, after February 17, 1955.
(2) The contribution imposed by this section shall be collected by deducting the amount of the contribution from wages as and when paid, but failure to make such deduction shall not relieve the employee from liability for such contribution.
(3) If more or less than the correct amount of the contribution imposed by this section is paid or deducted with respect to any remuneration, proper adjustments, or refund if adjustment is impracticable, shall be made, without interest, in such manner and at such times as the State agent shall prescribe.
HISTORY: 1962 Code Section 61-235; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-420. Collection of employees' contributions by employer.

Each participating employer may, in consideration of the employee's retention in, or entry upon, employment after February 17, 1955, collect the contributions required of its employees under Section 9-5-410. Contributions so collected shall be paid into the contribution fund in partial discharge of the liability of such participating employer under Section 9-5-430. Failure to deduct such contribution shall not relieve the participating employer of liability therefor.
HISTORY: 1962 Code Section 61-236; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-430. Contributions of employers.

Each participating employer shall pay into the contribution fund, with respect to wages, at such time or times as the State agent may by regulation prescribe, contributions in the amounts and at the rates specified in the applicable agreement entered into by the State agent under Sections 9-5-210 to 9-5-230.
HISTORY: 1962 Code Section 61-237; 1955 (49) 43.
2023 South Carolina Code of Laws › Title 9 - Retirement Systems › Chapter 5 - State Retirement And Social Security Act Of 1955 › Section 9-5-440. Reports of employers.

Each participating employer shall make such reports, in such form and containing such information, as the State agent may from time to time require, and shall comply with such provisions as the State agent may from time to time find necessary to assure the correctness and verification of such reports.
HISTORY: 1962 Code Section 61-238; 1955 (49) 43.