South Carolina Code 9-8-200. Credit of State not pledged; rights upon termination of system
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Terms Used In South Carolina Code 9-8-200
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- State: means the State of South Carolina. See South Carolina Code 9-8-10
- System: means the Retirement System for Judges and Solicitors of the State of South Carolina. See South Carolina Code 9-8-10
All agreements or contracts with the members of the System pursuant to any of the provisions of this chapter shall be deemed solely obligations of the System and the full faith and credit of the State and of its departments, institutions and political subdivisions is not, and shall not be, pledged or obligated beyond the amounts which may be hereafter annually appropriated in the annual state general appropriation act, and other periodic appropriations for the purposes of this chapter. In case of termination of the System, the rights of all members of the System to benefits accrued to the date of such termination, to the extent then funded, shall be nonforfeitable.