Membership
9-8-40
Membership is mandatory upon taking office as Chief Justice of the South Carolina Supreme Court, Associate Justice of the South Carolina Supreme Court, Court of Appeals Judge, Circuit Court Judge, Family Court Judge, Solicitor, or Circuit Public Defender, prior to age 72.
Tax-Deferred Member Contribution Rate
9-8-130(1), 9-8-130(4) and 9-8-240
If you are an active JSRS member, you contribute a tax-deferred 10 percent of gross pay into your JSRS retirement account. If you have not retired, your account earns 4 percent interest compounded annually on your account balance as of the previous June 30.
A federal, calendar year limitation on the amount of annual compensation from which retirement contributions can be deducted applies to employees who became members of JSRS after December 31, 1995. Compensation in excess of this limitation is not subject to retirement contributions and is not taken into account for determining all JSRS benefits per Internal Revenue Code Section 401(a)(17). Visit the website www.irs.gov to find the current calendar year contribution earnings limit.
Employer Contribution Rate
9-8-140
The employer contribution rate is set by the SC Budget and Control Board based on annual actuarial valuations of JSRS.