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An increase in the value of a stock.
- Browse Related Terms: AICPA PFP, Asset allocation, Asset Classes, Capital appreciation, Cash Equivalents, Distribution, diversification, dividend, Income, inflation, Service Credit, Yield
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Instruments or investments that are easily turned into cash and are so safe that they are virtually as good as cash. Examples are money market funds, Treasury bills, and stable value funds.
- Browse Related Terms: AICPA PFP, Asset allocation, Asset Classes, Capital appreciation, Cash Equivalents, Distribution, diversification, dividend, Income, inflation, Service Credit, Yield
All > Business > Finance > Personal Finance > Retirement
Effective July 1, 2003, The South Carolina Retirement Systems Claims Procedure Act provides remedies available in a dispute or controversy between the Retirement Systems and a member or a designated beneficiary of a member of any of the retirement systems established in Title 9 of the SC Code of Laws. The new claims procedure sets a one-year statute of limitations, limits retroactive relief to one year, and prohibits class action lawsuits. It also provides an appeals process for members whose disability retirement applications or continuing disability reviews have been denied.
- Browse Related Terms: Beneficiary or Beneficiary Payee, Claims Procedure Act, Contingent beneficiary, Deferred annuity, Disability Determination Provider, Disability Retirement, Earned Service, Payment Plan, Refund, Retirement Annuity, Teacher and Employee Retention Incentive (TERI) Program, Workers’ Compensation
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A person who will receive a refund or annuity benefit if a primary beneficiary of an active member dies or otherwise loses rights as a beneficiary. Contingent beneficiaries may be designated for active member survivor benefits; however, they may not been designated for active or retired Group Life Insurance benefits or retirement annuities.
- Browse Related Terms: Beneficiary or Beneficiary Payee, Claims Procedure Act, Contingent beneficiary, Deferred annuity, Disability Determination Provider, Disability Retirement, Earned Service, Payment Plan, Refund, Retirement Annuity, Teacher and Employee Retention Incentive (TERI) Program, Workers’ Compensation
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SCRS and PORS are correlated systems. If a member has contributions in more than one of these retirement systems, the member’s service credit is maintained separately within each system; however, the member’s service credit is added together to determine the member’s eligibility for a retirement annuity within each respective system. The 12 highest consecutive quarters of earnable compensation in SCRS or PORS typically are used to calculate a member’s SCRS and PORS retirement annuity unless the service is concurrent (earned at the same time). GARS is also a correlated system in which the member’s years of service may be used to determine retirement eligibility, but not the AFC.
- Browse Related Terms: Correlated Systems, Defined benefit plan, Inactive Member, member, Non-Member, Pension Plan, Police Officers Retirement System (PORS), South Carolina Retirement System (SCRS), State Optional Retirement Program
All > Business > Finance > Personal Finance > Retirement
An adjustment of a salary or a retirement annuity intended to help offset the effects of inflation. Commonly referred to as COLA. COLAs are not guaranteed.
- Browse Related Terms: Annuity, Cost-of-Living Adjustment, Earnable Compensation, FICA, Fixed Income, Guaranteed investment contract (GIC), Interest, Pre-Tax, Prospectus, South Carolina Retirement Systems, volatility