South Carolina Statutes
§ 9-1-460 — Discontinuance of certain local plans or funds.
If the majority of the members of a retirement or pension plan or fund voted to enter the System in the manner described in Section 9-1-450, the local plan or fund was discontinued and the payment of all pensions to members on the pension roll as of the date of discontinuance became and is an obligation of the city, county or other unit in which the plan or fund was operated and shall be continued and paid by such city, county or other unit.
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South Carolina § 9-1-460 (Discontinuance of certain local plans or funds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 61-36; 1952 Code SECTION 61-36; 1945 (44) 212; 1949 (46) 424.
Nearby Sections
15
§ 9-1-10
Definitions.§ 9-1-1010
Assets to be credited to employee annuity savings fund and employer annuity accumulation fund.§ 9-1-1030
Deductions must be made although compensation is reduced below legal minimum; consent to deductions.§ 9-1-1060
Normal contribution rate.§ 9-1-1070
Accrued liability contribution rate.