News & Updates

Urgent Employer Notice Re: Layman Case

The South Carolina Supreme Court has denied the South Carolina Retirement Systems’ request for a rehearing of its decision in the case of Layman, et al. v. The State of South Carolina and The South Carolina Retirement System. As a result of the Court’s June 1, 2006, decision, employers are advised to immediately stop collecting employee contributions for members who began participation in the Teacher and Employee Retention Incentive (TERI) program prior to July 1, 2005, and are still active TERI participants.

Please continue to withhold employee contributions for any other working retired member, including members with TERI start dates prior to July 1, 2005, whose TERI participation has ended and who have returned to work as a working retiree.

We will provide you with more details, including a list of your employees affected by the decision, next week.