SC officers to again pay more for pensions in 2014 - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

SC officers to again pay more for pensions in 2014

Posted: Updated:

Associated Press

COLUMBIA, S.C. (AP) - South Carolina's law enforcement officers and firefighters will again be required to put a higher percentage of their salaries toward their retirement benefits than other public workers.

The Budget and Control Board approved recommendations Wednesday that mean officers and firefighters will put 8.41% of their paychecks toward their pensions starting in July 2014.

Officers and firefighters will begin paying 7.84% this July. That's already higher than the 7.5% teachers and employees of state and local governments will pay. Their rate will rise to 8% in 2014.

A pension reform law passed last year increased employees' contribution rates as part of efforts to keep state pension systems solvent. But consultants say the law's scheduled increases aren't enough to keep the Police Officers Retirement System sustainable.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow


888 Allbritton Dr.
Mt. Pleasant, SC 29464
843-881-4444 | Advertising Information

Public Information File

For assistance with accessing WCIV-TV's public information file, click here.


Advertising Credit Application and Terms and Conditions PDF.

Powered by WorldNow
All content Copyright © 2014 WCIV and Worldnow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.