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A method of payment through which a member receives his retirement annuity and, depending on the plan chosen, may provide a survivor benefit to his designated beneficiary. The member selects a payment plan at retirement. SCRS and PORS retiring members may choose payment plans Option A, Option B or Option C. For more information about these payment plans, choose either SCRS or PORS .
- 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
All > Business > Finance > Personal Finance > Retirement
A defined benefit retirement annuity plan under one of the following: the South Carolina Retirement System; the Police Officers Retirement System; the General Assembly Retirement System; or the Judges and Solicitors’ Retirement System.
- 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
The name of the retirement system covering police officers, firefighters, peace officers, probate judges, and magistrates. See PORS for more information.
- 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
Any type of contribution or compensation deducted from gross pay before earnings are taxed. Commonly referred to as deferred.
- 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
All > Business > Finance > Personal Finance > Retirement
A formal written document relating to the offering of a new or existing security that delineates the offeror’s business plan and is needed by the investor to make an informed decision concerning investment in the security.
- 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
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