South Carolina Code 9-1-1960. Additional payments to certain members of the General Assembly effective July 1, 1972
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Terms Used In South Carolina Code 9-1-1960
- Creditable service: means a member's earned service, prior service, and purchased service. 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
Effective July 1, 1972, any member of the General Assembly who has retired or may retire under the provisions of the South Carolina Retirement Act and has twenty or more years of creditable service shall be paid in the same manner as provided in § 9-1-1910 a monthly sum in addition to the retirement allowance he may receive under such act, to provide him a gross minimum of one hundred and fifty dollars per month, plus one dollar per month for each completed year of such service in excess of twenty years. Should such member of the General Assembly elect to receive a reduced retirement allowance as provided in such act, he shall be paid under the provisions of this section only such amount as would be paid under this section had he not elected such optional allowance.