SC House panel to discuss pension reform
COLUMBIA, S.C. (AP) — A House panel studying South Carolina pension reform will consider tweaking proposed requirements on age and years on the job.
The House subcommittee is set to hear from a consultant Wednesday on how changes to its proposal would affect the system’s solvency.
The panel had drafted a plan requiring public employees to work 30 years and be at least 62 years old to draw full retirement benefits. Employees currently have to work 28 years for full retirement, and there are no age thresholds. That initial plan would’ve exempted workers within five years of retiring.
But options up for discussion this week include applying any changes to new hires only. The subcommittee will also consider letting workers either work 30 years or retire at age 62, rather than meet both qualifications.