South Carolina § 8-23-20 Deferred Compensation Program.

South Carolina Statutes

§ 8-23-20 — Deferred Compensation Program.

South Carolina § 8-23-20

Title 8PUBLIC OFFICERS AND EMPLOYEES

Ch. 23DEFERRED COMPENSATION PROGRAM

This text of South Carolina § 8-23-20 (Deferred Compensation Program.) 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. § 8-23-20 (2026).

Text

The Board of Directors of the South Carolina Public Employee Benefit Authority shall establish such rules and regulations as it deems necessary to implement and administer the Deferred Compensation Program. The board shall make such administrative appointments and contracts as are necessary to carry out the purpose and intent of this chapter and in the administration of account assets. For purposes of administering this program, an individual account shall be maintained in the name of each employee. The board shall select, through competitive bidding and contracts, plans for purchase of fixed and variable annuities, savings, mutual funds, insurance, and such other investments as the board may approve which are not in conflict with the State Constitution and with the advice and approval of 

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The Board of Directors of the South Carolina Public Employee Benefit Authority shall establish such rules and regulations as it deems necessary to implement and administer the Deferred Compensation Program. The board shall make such administrative appointments and contracts as are necessary to carry out the purpose and intent of this chapter and in the administration of account assets. For purposes of administering this program, an individual account shall be maintained in the name of each employee. The board shall select, through competitive bidding and contracts, plans for purchase of fixed and variable annuities, savings, mutual funds, insurance, and such other investments as the board may approve which are not in conflict with the State Constitution and with the advice and approval of the State Treasurer. Costs of administration may be paid from the interest earnings of the funds accrued as a result of deposits or as an assessment against each account.

Legislative History

HISTORY: 1977 Act No. 97 SECTION 2; 1990 Act No. 430, SECTION 1, eff April 25, 1990; 2008 Act No. 305, SECTION 1, eff June 11, 2008; 2012 Act No. 278, Pt IV, Subpt 2, SECTION 38.A, eff January 1, 2014.