South Carolina Code 9-1-1910. Minimum allowance for persons retiring with twenty or more years of service, generally
Any person who retired prior to October 1, 1956, under the provisions of the South Carolina Retirement Act, while in service as such teacher or employee and who furnishes proper proof that he is not receiving primary Federal Social Security payments as a result of such employment, shall, effective July 1, 1969, be paid twenty-five dollars per month in addition to any payments otherwise payable under this section.
Terms Used In South Carolina Code 9-1-1910
- Creditable service: means a member's earned service, prior service, and purchased service. See South Carolina Code 9-1-10
- Earned service: means :
(a) paid employment as a teacher or employee of an employer participating in the system where the teacher or employee makes regular retirement contributions to the system; or
(b) service rendered while participating in the State Optional Retirement Program, the Optional Retirement Program for Teachers and School Administrators, or the Optional Retirement Program for Publicly Supported Four Year and Postgraduate Institutions of Higher Education that has been purchased pursuant to § 9-1-1140(F); or
(c) service earned as a participant in the system, the South Carolina Police Officers Retirement System, the Retirement System for Members of the General Assembly, or the Retirement System for Judges and Solicitors that is transferred to or purchased in the system. See South Carolina Code 9-1-10 - Employee: means :
(a) to the extent compensated by this State, an employee, agent, or officer of the State or any of its departments, bureaus, and institutions, other than the public schools, whether the employee is elected, appointed, or employed;
(b) the president, dean, professor, or teacher or any other person employed in any college, university, or educational institution of higher learning supported by and under the control of the State;
(c) an employee, agent, or officer of a county, municipality, or school district, or an agency or department of any of these, which has been admitted to the system under the provisions of § 9-1-470, to the extent the employee, agent, or officer is compensated for services from public funds;
(d) an employee of the extension service and any other employee a part of whose salary or wage is paid by the federal government if the federal funds from which the salary or wage is paid before disbursement become state funds;
(e) an employee of a service organization, the membership of which is composed solely of persons eligible to be teachers or employees as defined by this section, if the compensation received by the employees of the service organization is provided from monies paid by the members as dues or otherwise, or from funds derived from public sources and if the employee contributions prescribed by this title are paid from the funds of the service organization;
(f) an employee of an alcohol and drug abuse planning agency authorized to receive funds pursuant to § 61-12-20;
(g) an employee of a local council on aging or other governmental agency providing aging services funded by the Department on Aging. See South Carolina Code 9-1-10 - Member: means a teacher or employee included in the membership of the system as provided in Article 5 of this chapter. See South Carolina Code 9-1-10
- Retirement: means the withdrawal from active service with a retirement allowance granted under the system. See South Carolina Code 9-1-10
- Retirement allowance: means the sum of the employer annuity and the employee annuity or any optional benefit payable in lieu of the annuity. See South Carolina Code 9-1-10
- system: means the South Carolina Retirement System established under § 9-1-20. See South Carolina Code 9-1-10
- Teacher: means a classroom teacher employed in the public schools supported by this State as determined by the board. See South Carolina Code 9-1-10
Effective July 1, 1972, any person who has retired or may retire under the provisions of the South Carolina Retirement Act while in service as a teacher or employee, who has twenty or more years of creditable service and whose annual average final compensation is at least fifteen hundred dollars shall be paid from the South Carolina Retirement System a monthly sum, in addition to the retirement allowance he may receive under the act and any amount provided from the general fund of the State under the previous paragraphs, to provide a minimum of one hundred and fifty dollars per month, plus one dollar per month for each completed year of creditable service in excess of twenty years. If such person’s effective date of retirement is on or after July 1, 1972, and he has not attained age sixty-five nor completed thirty-five years of creditable service at the time of his service retirement the gross minimum amount shall be reduced by five-twelfths of one per cent for each month by which his retirement date preceded the first day of the month coincident with or next following his sixty-fifth birthday. If such person’s effective date of retirement is on or after July 1, 1972, and he retired on a deferred retirement allowance the amount payable at age sixty shall be seventy-five per cent of the gross minimum amount otherwise determined. Provided, however, that should such teacher or employee elect to receive a reduced retirement allowance as provided in the act, he shall be paid under the provisions of this section only such amount as would be paid under the section had he not elected such optional allowance. Provided, further, that the fifteen hundred dollars average final compensation required by this paragraph shall not apply to full-time lunchroom employees who retire no later than July 1, 1974.