§ 9-1-210 Board shall administer system
§ 9-1-230 Authority to engage actuarial and other services
§ 9-1-240 Actuary for board
§ 9-1-250 Investigation and valuation by actuary every five years
§ 9-1-260 Annual valuation by actuary
§ 9-1-270 Board shall keep actuarial data in convenient form
§ 9-1-280 Board shall determine interest rate; base rate established
§ 9-1-290 Rules and regulations
§ 9-1-300 Records and reports
§ 9-1-310 Administrative costs of retirement systems funded from interest earnings; allocation of costs
§ 9-1-320 Confidentiality of member records
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In South Carolina Code > Title 9 > Chapter 1 > Article 3 - Administration

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means the Board of Directors of the South Carolina Public Employee Benefit Authority which shall act under the provisions of this chapter through its Division of Retirement Systems. See South Carolina Code 9-1-10
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • 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
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Regular interest: means interest compounded annually at a rate determined by the board in accordance with § 9-1-280. 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
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • system: means the South Carolina Retirement System established under § 9-1-20. See South Carolina Code 9-1-10