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2022 South Carolina Code of Laws
Title 9 - Retirement Systems
Chapter 15 - Annuity Contracts For Employees Of Schools And Educational Institutions
Section 9-15-10. School districts and state-supported institutions of higher learning authorized to purchase annuity contracts.
Universal Citation:
SC Code § 9-15-10 (2022)
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The various school districts of this State and State-supported institutions of higher learning are authorized to enter into agreements to pay, at the request of their employees, a part of the incomes of such employees, not to exceed the exclusion allowance provided in Section 403(b)(2) of the Internal Revenue Code of the United States, for the purchase of annuity or other contracts which meet the requirements of Section 403(b) of the Internal Revenue Code.
HISTORY: 1962 Code Section 61-441; 1972 (57) 2399.
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