The bill S. 261 proposes amendments to Section 9-10-30 of the South Carolina Code of Laws, which pertains to pensions for members of the National Guard of South Carolina. The amendments aim to increase the monthly pension amount for eligible members who joined before July 1, 1993. Specifically, the bill sets the pension at five hundred dollars per month for twenty years of creditable military service, with an additional ten dollars per month for each additional year of service. However, the total pension is capped at one hundred dollars per month.

Additionally, the bill introduces a provision for periodic adjustments to the pension amounts based on the average of the twelve monthly consumer price indices over the preceding three calendar years, starting on July 1, 2028, and every third July thereafter. If the consumer price index shows a negative percentage, it will be considered zero for the purpose of these adjustments. The act is set to take effect on July 1, 2025.

Statutes affected:
01/23/2025: 9-10-30
Latest Version: 9-10-30