The bill H. 3437 proposes amendments to the South Carolina Code of Laws regarding the earnings limitation for retired members returning to covered employment in both the South Carolina Retirement System and the South Carolina Police Officers Retirement System. Specifically, it seeks to exempt certain retired members from the earnings limitation if they meet specific criteria. These criteria include having retired before January 2, 2013, being at least 62 years old at retirement (or 57 for police officers), receiving compensation for service in a public office, or not having engaged in any compensated services for a participating employer for at least twelve consecutive months after retirement. Additionally, the bill introduces a new exemption for retired members who are employed in critical needs law enforcement positions, contingent upon approval from the Law Enforcement Training Council.

The bill also emphasizes the importance of certification by the retired member to confirm eligibility for the exemptions. If a member inaccurately certifies their eligibility, they will be responsible for reimbursing any benefits wrongly paid. Furthermore, the Law Enforcement Training Council is tasked with reviewing and approving positions for the earnings limitation exception and must report annually to the Senate Finance Committee and the House Ways and Means Committee. The provisions of this act will take effect upon the Governor's approval.

Statutes affected:
12/05/2024: 9-1-1790, 9-11-90
Latest Version: 9-1-1790, 9-11-90