South Carolina Code 9-1-1510. Retirement of members at age 60 or after 28 years’ service
(1) five or more years of earned service;
Terms Used In South Carolina Code 9-1-1510
- Class Three member: means an employee member of the system with an effective date of membership after June 30, 2012. See South Carolina Code 9-1-10
- 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 - 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
- Rule of ninety: means a requirement that the total of the member's age and the member's creditable service equals at least ninety years. 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
(2) attained the age of sixty years or has twenty-eight or more years of creditable service; and
(3) separated from service.
(B) A Class Three member may retire upon written application to the system setting forth at what time, no more than ninety days before nor more than six months after the execution and filing of the application, the member desires to be retired, if the member at the time specified for the member’s service retirement has:
(1) eight or more years of earned service;
(2) attained the age of sixty years or satisfied the rule of ninety requirement; and
(3) separated from service.
(C) A member who is an elected official whose annual compensation is less than the earnings limitation pursuant to § 9-1-1790 and who is otherwise eligible for service retirement may retire for purposes of this section without a break in service.