S.C. Code Regs. § § 19-940

Current through Register Vol. 48, No. 10, October 25, 2024

Section 19-940 - Termination Pay

When the end of the fiscal year for pay purposes for weekly and bi-weekly paid employees does not coincide with the end of the fiscal year and a member wishes to retire July 1:

(1) Termination pay shall be based on rate of pay at end of pay period year.

(2) Salary used in Retirement Formula Calculation terminates with last day of pay period year.

(3) Retirement is effective July 1.

(4) Employee may continue working during gap period at new salary rate.

S.C. Code Regs. § 19-940