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State Retirement Plans

Participation in one of the state retirement plans is mandatory for Classified Employees, Faculty and employees with prior SCRS pension accounts (active or inactive). Participation is optional for Temporary employees, Research Grant Employees, Residents and Postdoctoral Fellows.

You have 30 days from your hire date to select a retirement plan. If you are required to participate and do not make a selection within 30 days, you will automatically default to the SCRS plan.  

If you have the option to participate and do not make a selection within 30 days, you will automatically default to Non-Membership.  You may only join one of the plans at a later time if you are assigned to a position that requires your participation.  Election of membership is permanent until you separate employment.

SC Retirement System
Traditional Pension Plan
(SCRS)

A defined benefit plan. When you retire, you receive a monthly pension based on a formula that includes average final compensation, years of service and a 1.82 percent benefit multiplier. You must have a minimum of 5 years of earned service (Class II members) or 8 years of earned service (Class III members) to be eligible to receive a retirement annuity... more details  

South Carolina Optional Retirement Program (ORP)A defined contribution plan. Retirement income is based on contributions, investment choices and account balances...
more details

Police Officers
Retirement Plan
(PORS)

A defined benefit plan. When you retire, you receive a monthly pension based on a formula that includes average final compensation, years of service and a 2.14 percent benefit multiplier. You must have a minimum of 5 years (Class II members) or 8 years of earned service (Class III members) to be eligible to receive a retirement annuity... more details

The enrollment period for all State Optional Retirement Program (ORP) participants is from January 1 through March 1 of each year.  During the retirement enrollment period, State ORP participants may change investment providers or, if eligible, irrevocably elect to join the South Carolina Retirement System (SCRS).  State ORP participants who have a minimum of 12 months of participation, but no more than 60 months are eligible to switch from State ORP to SCRS during theORP retirement enrollment period.  ORP participants may change investment providers regardless of participation time.  Notification will be sent annually to ORP participants.

Participants can review plan information on the South Carolina Retirement Systems website.

 
 
 

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