Bill Text: SC H4725 | 2017-2018 | 122nd General Assembly | Introduced
Bill Title: TERI; extend the date
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2018-01-25 - Referred to Committee on Ways and Means [H4725 Detail]
Download: South_Carolina-2017-H4725-Introduced.html
A BILL
TO AMEND SECTION 9-1-2210, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TEACHER AND EMPLOYEE RETENTION INCENTIVE PROGRAM, SO AS TO EXTEND THE DATE ON WHICH THE AVAILABILITY OF PARTICIPATION IN THE PROGRAM ENDS TO JUNE 30, 2021; AND TO AMEND ACT 278 OF 2012, RELATING TO RETIREMENT SYSTEMS, SO AS TO EXTEND THE DATE ON WHICH SECTION 9-1-2210 IS REPEALED UNTIL JUNE 30, 2021.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 9-1-2210(J) of the 1976 Code, as last amended by Act 278 of 2012, is further amended to read:
"(J) Notwithstanding any other provision of this section, a member who begins participation after June 30, 2012, shall end his participation no later than the fifth anniversary of the date the member commenced participation in the program, or June 30, 2018 2021, whichever is earlier. A member's participation may not continue after June 30, 2018 2021, under any circumstance."
SECTION 2. Section 16 of Act 278 of 2012 is amended to read:
"Section 16. Section 9-1-1810 of the 1976 Code is repealed. Section 9-1-2210 of the 1976 Code is repealed effective July 1, 2018 2021, for all purposes except the distribution of program accounts existing on that date."
SECTION 3. This act takes effect upon approval by the Governor.
