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 key changes include an increase in the monthly pension amount from five hundred dollars to one thousand dollars for members with twenty years of creditable military service, and an increase in the additional monthly pension for each additional year of service from five dollars to ten dollars. Additionally, the maximum pension limit is raised from one hundred dollars to two hundred dollars per month.

Furthermore, the bill establishes a mechanism for future adjustments to the pension amounts. Starting July 1, 2028, and every three years thereafter, the pension amounts and limits will be increased based on the average of the twelve monthly consumer price indices from the preceding three calendar years. If there is a negative percentage in the average consumer price indices, it will be considered as 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