House, Senate delay compromise on pension reform

COLUMBIA, S.C. (AP) — House and Senate members are delaying a meeting to develop a compromise on reforming public workers’ pension system.

A conference committee meeting on the chambers’ separate reform plans was set for Tuesday afternoon. But the panel’s Senate members wanted to stay on the floor as the chamber recognized its retiring members.

The House changed its proposal last week. Both plans apply changes in benefit calculations only to workers hired after June 30.

Differences include how long new hires must work to retire with full benefits, and how retirees get increases in their checks.

The House plan closes the Teachers and Employee Retention Incentive program to new hires only, while the Senate eliminates it in 2018.

There are nearly 230,000 public workers and 130,000 retirees in the state’s five retirement systems.