South Carolina § 9-1-1690 Credit of State is not pledged for payments; rights in case of termination of system or discontinuance of contributions.

South Carolina Statutes

§ 9-1-1690 — Credit of State is not pledged for payments; rights in case of termination of system or discontinuance of contributions.

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

All agreements or contracts with members of the System pursuant to any of the provisions of this chapter shall be deemed solely obligations of the Retirement System and the full faith and credit of this State and of its departments, institutions and political subdivisions and of any other employer is not, and shall not be, pledged or obligated beyond the amounts which may be hereafter annually appropriated by such employers in the annual appropriations act, county appropriation acts and other periodic appropriations for the purposes of this chapter. In case of termination of the System, or in the event of discontinuance of contributions thereunder, the rights of all members of the System to benefits accrued to the date of such termination or discontinuance of contributions, to the extent t

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All agreements or contracts with members of the System pursuant to any of the provisions of this chapter shall be deemed solely obligations of the Retirement System and the full faith and credit of this State and of its departments, institutions and political subdivisions and of any other employer is not, and shall not be, pledged or obligated beyond the amounts which may be hereafter annually appropriated by such employers in the annual appropriations act, county appropriation acts and other periodic appropriations for the purposes of this chapter. In case of termination of the System, or in the event of discontinuance of contributions thereunder, the rights of all members of the System to benefits accrued to the date of such termination or discontinuance of contributions, to the extent then funded, are nonforfeitable.

South Carolina § 9-1-1690 (Credit of State is not pledged for payments; rights in case of termination of system or discontinuance of contributions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.