A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 9-11-28 SO AS TO PROVIDE THAT FULL-TIME MASTERS-IN-EQUITY SHALL PARTICIPATE IN THE SOUTH CAROLINA POLICE OFFICERS RETIREMENT SYSTEM AND TO PROVIDE FOR CERTAIN TRANSFERS OF CREDITS.
Summary
H4577 amends the South Carolina Code to place full-time masters-in-equity into the South Carolina Police Officers Retirement System (PORS) for service performed after December 31, 2026. A master-in-equity is a judicial officer who handles certain civil matters, and this bill changes the retirement coverage for those full-time positions going forward.
The bill also creates a limited window, from July 1, 2026 through January 1, 2027, during which a full-time master-in-equity may transfer previously credited service from the South Carolina Retirement System into PORS. To do so, the member must pay the accumulated employer and employee contributions plus interest, along with an additional amount equal to five percent of annual salary for each year of service, prorated for partial years. After January 1, 2027, transfers would be governed by the existing transfer provisions in Section 9-11-40(9). The act takes effect upon approval by the Governor.
Impact
This bill would add a new retirement classification rule in Title 9 by expressly requiring full-time masters-in-equity to participate in PORS rather than remaining in the South Carolina Retirement System for future service. It would also create a one-time transition mechanism for certain prior service credits, affecting retirement contributions, service credit calculations, and the eventual benefit structure for affected judicial officers and the retirement systems administering those accounts.
Sentiment
No committee transcripts or recorded votes were provided, so there is no direct evidence of debate or opposition in the available materials. Based on the bill text and caption, the measure appears technical and targeted, likely intended to align retirement coverage for full-time masters-in-equity with a law-enforcement-style retirement system. The available record does not show any formal sentiment beyond the bill’s introduction.
Contention
The main potential point of contention is the policy choice to move full-time masters-in-equity into the Police Officers Retirement System, which may raise questions about whether that retirement classification is appropriate for judicial officers and what fiscal effects it could have on the retirement system. A second possible issue is the cost and fairness of the transfer formula for prior service, including the added five percent salary charge and the limited election window. No specific objections or supporters are identified in the provided history.