South Carolina § 9-1-1780 Recomputation allowances of certain persons having thirty-five or more years of creditable service.

South Carolina Statutes

§ 9-1-1780 — Recomputation allowances of certain persons having thirty-five or more years of creditable service.

South Carolina·Title 9 RETIREMENT SYSTEMS·Ch. 1 SOUTH CAROLINA RETIREMENT SYSTEM

Effective July 1, 1969, any monthly retirement allowance which commenced prior to such date to or on account of a Class Two member who, at retirement or earlier death, had completed thirty-five or more years of creditable service but had not reached his sixty-fifth birthday shall be recomputed to reflect the deletion as of July 1, 1969 of the five-twelfths of one percent reduction previously applicable. Commencing July 1, 1969 the recomputed allowance, modified to reflect the election, if any, of an optional benefit under Section 9-1-1620, shall be payable.

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Effective July 1, 1969, any monthly retirement allowance which commenced prior to such date to or on account of a Class Two member who, at retirement or earlier death, had completed thirty-five or more years of creditable service but had not reached his sixty-fifth birthday shall be recomputed to reflect the deletion as of July 1, 1969 of the five-twelfths of one percent reduction previously applicable. Commencing July 1, 1969 the recomputed allowance, modified to reflect the election, if any, of an optional benefit under Section 9-1-1620, shall be payable.

South Carolina § 9-1-1780 (Recomputation allowances of certain persons having thirty-five or more years of creditable service.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.