S.C. Code § 9-1-1790

Current through 2024 Act No. 120.
Section 9-1-1790 - Amount which may be earned upon return to covered employment
(A)
(1) A retired member of the system who has been retired for at least thirty consecutive calendar days may be hired and return to employment covered by this system or any other system provided in this title and earn up to ten thousand dollars without affecting the monthly retirement allowance the member is receiving from the system. If the retired member continues in service after earning ten thousand dollars in a calendar year, the member's allowance must be discontinued during his period of service in the remainder of the calendar year. If the employment continues for at least forty-eight consecutive months, the provisions of Section 9-1-1590 apply. If a retired member of the system returns to employment covered by this system or any other system provided in this title sooner than thirty days after retirement, the member's retirement allowance is suspended while the member remains employed by the participating employer. If an employer fails to notify the system of the engagement of a retired member to perform services, the employer shall reimburse the system for all benefits wrongly paid to the retired member.
(2) The earnings limitation imposed pursuant to this item does not apply if the member meets at least one of the following qualifications:
(a) the member retired before January 2, 2013;
(b) the member has attained the age of sixty-two years at retirement; or
(c) compensation received by the retired member from the covered employer is for service in a public office filled by the appointment of the Governor and with confirmation by the Senate, by appointment or election by the General Assembly, or by election of the qualified electors of the applicable jurisdiction.
(B) An employer shall pay to the system the employer contribution for active members prescribed by law with respect to any retired member engaged to perform services for the employer, regardless of whether the retired member is a full-time or part-time employee or a temporary or permanent employee. If an employer who is obligated to the system pursuant to this subsection fails to pay the amount due, as determined by the system, the amount must be deducted from any funds payable to the employer by the State.
(C) A retired member shall pay to the system the employee contribution as if the member were an active contributing member if an employer participating in the system employs the retired member. The retired member does not accrue additional service credit in the system by reason of the contributions required pursuant to this subsection and subsection (B) of this section.
(D) A retired member of the South Carolina Retirement System who is not a member of the Police Officers Retirement System, but is employed in a position that would otherwise be covered by the Police Officers Retirement System, shall not join the Police Officers Retirement System but, notwithstanding any other provision of law, that member is deemed a retired contributing member of the South Carolina Retirement System and shall remit the employee contributions required under subsection (C) of this section to the South Carolina Retirement System and the employer shall remit to the South Carolina Retirement System the employer contribution required by subsection (B). An employer who hires a retiree of the South Carolina Retirement System pursuant to this subsection shall elect to participate as an employer in the South Carolina Retirement System.

S.C. Code § 9-1-1790

Amended by 2012 S.C. Acts, Act No. 278 (HB 4967), s 14A, eff. 1/2/2013.
2005 Act No. 153, Pt II, Section 7, eff 7/1/2005; 2001 Act No. 25, Section 1, eff 7/1/2001; 1999 Act No. 100, Part II, Section 27, eff 7/1/1999; 1989 Act No. 189, Part II, Section 50A, eff 6/8/1989 (became law without the Governor's signature); 1988 Act No. 658, Part II, Section 40A, eff 6/8/1988; 1987 Act No. 170, Part II, Section 38A, eff 6/22/1987 (became law without Governor's signature); 1986 Act No. 540, Part II, Section 43A, effective 6/18/1986, and became law without the Governor's signature; 1985 Act No. 201, Part II, Section 42A; 1984 Act No. 512, Part II, Section 50A; 1983 Act No. 151 Part II Section 50A; 1982 Act No. 466 Part II Section 41A; 1981 Act No. 178 Part II Section 33; 1980 Act No. 517 Part II, Section 19A; 1979 Act No. 199 Part II Section 24A; 1978 Act No. 428 Section 1; 1977 Act No. 43 Section 1; 1975 (59) 49; 1974 (58) 2066; 1973 (58) 167; 1969 (56) 272; 1962 Code Section 61-126.