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Legislature OKs compromise on pension reform in South Carolina
The legislature approved a pension reform package by an 88 to 9 vote in the House and 43 to 0 in the Senate, sending it to the governor for signing. The plan mostly follows the Senate version, raising employee contributions, applying new rules to hires after June 30, and implementing a rule of 90 for full benefits while preserving current workers' benefits. It also extends TERI, caps return-to-work benefits, and guarantees a 1 percent pension increase with a $500 cap, amid a looming $147 million price tag.
MENTIONED IN THIS ARTICLE
Columbia
South Carolina
House
Senate
Sen
Greg
Ryberg
Aiken
Jim Merrill
TERI