Benefit Comparison Calculator
(SCRS and State ORP)
If you are eligible to participate in the State Optional Retirement Program (State ORP), you may choose either the traditional SCRS defined benefit plan or the State ORP defined contribution plan. This computer program is designed to help you estimate and compare the retirement benefit you might receive from one of these two state retirement plans. This program assumes that you do not have any prior service with a plan under the South Carolina Retirement Systems. If you have prior service with a South Carolina Retirement Systems’ plan, you should not use this program but consult with your financial advisor. In making your decision, it is important to read all of the information provided concerning the use of this calculator.
Estimates Are Hypothetical
The benefits estimated using this computer program are based on the features of each of the two retirement plans and a retirement date of June 30 in addition to the personal information and assumptions you provide, such as: your estimate of your rate of return on your investments; your estimate of your future salary increases; your estimate of the number of years you plan to work and contribute to your plan; and the number of years you choose to receive systematic withdrawals. Therefore, these estimates are hypothetical and not intended to serve as a prediction of actual results.
Benefits will vary based on your actual experience, such as: earned future return on investments; your future salary increases; the number of years you actually work and contribute to your plan; and for the State ORP, the number of years you choose to receive systematic withdrawals. Benefit estimates reflect future values and are not adjusted for inflation. The statutes governing the South Carolina Retirement Systems are found in Title 9 of the South Carolina Code of Laws, and should there be any conflict between this program and the statutes, the statutes will prevail.
