Retirement terms starting with S

5 terms

1. Service Credit A member’s earned service, prior service, and/or purchased service.
2. Single-Sum Distribution Non-periodic distribution from a qualified retirement plan received before an annuity start date. TERI payouts are considered single-sum distributions.
3. South Carolina Retirement System (SCRS) This is the name of the retirement system covering state employees, public school employees, public higher education personnel, and employees of other…
4. South Carolina Retirement Systems This is the name commonly used to refer to the Retirement Division of the State Budget and Control Board .
5. State Optional Retirement Program A defined contribution retirement plan offered as an alternative to SCRS . The State Optional Retirement Program ( State ORP ) is available to all state…