South Carolina Code 9-8-10. Definitions
(1) "System" means the Retirement System for Judges and Solicitors of the State of South Carolina.
Terms Used In South Carolina Code 9-8-10
- Accumulated contributions: means the member's aggregate contributions, together with regular interest thereon. See South Carolina Code 9-8-10
- Aggregate contributions: means the sum of all the amounts deducted from the compensation of a member of the System, or directly remitted by him to the System, and credited to his individual account in the System. See South Carolina Code 9-8-10
- Board: means the Board of Directors of the South Carolina Public Employee Benefit Authority. See South Carolina Code 9-8-10
- Circuit public defender: means a person holding the office defined in § 17-3-5(4). See South Carolina Code 9-8-10
- Compensation: means the total salary paid to a judge, solicitor, or circuit public defender for service rendered to the State. See South Carolina Code 9-8-10
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Judge: means a justice of the Supreme Court or a judge of the court of appeals, circuit or family court of the State of South Carolina. See South Carolina Code 9-8-10
- Public defender: Represent defendants who can't afford an attorney in criminal matters.
- Regular interest: means interest compounded annually at such rates as shall be determined by the Board for a particular purpose in accordance with § 9-8-30. See South Carolina Code 9-8-10
- Retirement allowance: means monthly payments for life under the System payable as provided in § 9-8-80. See South Carolina Code 9-8-10
- Solicitor: means the person holding office as described under § 1-7-310 of the 1976 Code. See South Carolina Code 9-8-10
- State: means the State of South Carolina. See South Carolina Code 9-8-10
- System: means the Retirement System for Judges and Solicitors of the State of South Carolina. See South Carolina Code 9-8-10
(2) "State" means the State of South Carolina.
(3) "Board" means the Board of Directors of the South Carolina Public Employee Benefit Authority.
(4) "Member of the System" means any person included in the membership of the System, as set forth in § 9-8-40.
(5) "Credited service" means service for which credit is allowable as provided in § 9-8-50.
(6) "Retirement allowance" means monthly payments for life under the System payable as provided in § 9-8-80.
(7) "Beneficiary" means any person in receipt of a retirement allowance or other benefit as provided by the System.
(8) "Aggregate contributions" means the sum of all the amounts deducted from the compensation of a member of the System, or directly remitted by him to the System, and credited to his individual account in the System.
(9) "Regular interest" means interest compounded annually at such rates as shall be determined by the Board for a particular purpose in accordance with § 9-8-30.
(10) "Accumulated contributions" means the member’s aggregate contributions, together with regular interest thereon.
(11) "Actuarial equivalent" means a benefit of equal value when computed on the basis of the tables and regular interest rate last adopted for the particular purpose by the Board, as provided in § 9-8-30.
(12) "Date of establishment" means July 1, 1979.
(13) "Compensation" means the total salary paid to a judge, solicitor, or circuit public defender for service rendered to the State.
(14) "Employee annuity" means annual payments for life derived from the accumulated contributions of a member.
(15) "Employer annuity" means annual payments for life derived from money provided by the State.
(16) "Judge" means a justice of the Supreme Court or a judge of the court of appeals, circuit or family court of the State of South Carolina. Subject to the provisions of § 9-8-40, "judge" also means an administrative law judge.
(17) "Solicitor" means the person holding office as described under § 1-7-310 of the 1976 Code.
(18) "Earned service" means paid employment as a judge, solicitor, or circuit public defender where the judge, solicitor, or circuit public defender makes regular contributions to the system.
(19) "Circuit public defender" means a person holding the office defined in § 17-3-5(4).