South Carolina Code 9-8-80. Allowances payable in monthly installments
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 9-8-80
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means any person in receipt of a retirement allowance or other benefit as provided by the System. See South Carolina Code 9-8-10
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Retirement allowance: means monthly payments for life under the System payable as provided in § 9-8-80. See South Carolina Code 9-8-10
All retirement allowances are payable in monthly installments. Upon the death of a retired member, the retirement allowance for the month the retired member died, if not previously paid, must be paid to the member’s spouse, or if the member designated a nonspouse beneficiary or beneficiaries, then to the nonspouse beneficiary or beneficiaries living at the time of the member’s death, otherwise to the estate of the member. A spouse’s entitlement to a benefit pursuant to § 9-8-110 commences in the month after the retired member’s death. If the retired member elected a survivor option pursuant to the optional retirement allowances in § 9-8-70, any allowance payable to a survivor beneficiary or beneficiaries commences in the month after the death of the retired member.