South Carolina Statutes
§ 8-23-110 — Employer contributions; matching and other contributions by political subdivisions of State; determination of amount and terms of State contributions.
(A)The Board of Directors of the South Carolina Public Employee Benefit Authority shall ensure that plan documents governing deferred compensation plans administered by the board permit employer contributions to the extent allowed under the Internal Revenue Code.
(B)Political subdivisions of the State, including school districts, participating in deferred compensation plans administered by the board or such plans offered by other providers may make matching or other contributions on behalf of their participating employees.
(C)As an additional benefit for state employees, and to the extent funds are appropriated for this purpose, the State shall make matching or other contributions on behalf of state employees participating in the deferred compensation plans offered by the board or such
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South Carolina § 8-23-110 (Employer contributions; matching and other contributions by political subdivisions of State; determination of amount and terms of State contributions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2000 Act No. 387, Part II, SECTION 6A, eff July 1, 2000; 2012 Act No. 278, Pt IV, Subpt 2, SECTION 38.C, eff January 1, 2014.
Nearby Sections
11
§ 8-23-10
Declaration of purpose.§ 8-23-100
Withdrawal from program.§ 8-23-20
Deferred Compensation Program.§ 8-23-50
Payment of premiums.§ 8-23-60
"Employees" defined.