All of the assets of the System are credited, according to the purpose for which they are held, to two bookkeeping accounts, hereinafter referred to as "funds". The accounts are referred to as the employee annuity savings fund and the employer annuity accumulation fund.
S.C. Code Ann. § 9-1-1010
Assets to be credited to employee annuity savings fund and employer annuity accumulation fund
Applied in 1 court decision — leading case 899 F. Supp. 2d 457 - Hutto v. South Carolina Retirement System (2012)
Most recently applied in 899 F. Supp. 2d 457 - Hutto v. South Carolina Retirement System (September 2012)
1962 Code SECTION 61-61; 1952 Code SECTION 61-61; 1945 (44) 212; 1949 (46) 424; 1960 (51) 1524; 1980 Act No. 407, SECTION 1; 1986 Act No. 309 SECTION 1, eff February 4, 1986.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.