South Carolina § 9-12-40 Eligibility for participation in a QEBA.

South Carolina Statutes

§ 9-12-40 — Eligibility for participation in a QEBA.

South Carolina § 9-12-40

Title 9RETIREMENT SYSTEMS

Ch. 12QUALIFIED EXCESS BENEFITS ARRANGEMENTS

This text of South Carolina § 9-12-40 (Eligibility for participation in a QEBA.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 9-12-40 (2026).

Text

All members, retired members, and beneficiaries of the retirement systems are eligible to participate in a QEBA if their benefits would exceed the limitation imposed by Section 415 of the Internal Revenue Code. Participation is determined for each calendar year, and participation shall cease for any calendar year in which the benefit of a member, retired member, or beneficiary is not limited by Section 415 of the Internal Revenue Code.

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All members, retired members, and beneficiaries of the retirement systems are eligible to participate in a QEBA if their benefits would exceed the limitation imposed by Section 415 of the Internal Revenue Code. Participation is determined for each calendar year, and participation shall cease for any calendar year in which the benefit of a member, retired member, or beneficiary is not limited by Section 415 of the Internal Revenue Code.