SC lawmakers discuss pension reform

Monday, Dec. 12, 2011 9:11 AM
Last updated 9:13 AM
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COLUMBIA— A legislative panel is discussing possibilities for fixing South Carolina’s pension system.

A House panel studying pension reform is to meet today. The subcommittee could approve a proposal that could jump-start debate in the legislative session that resumes in January.

Legislators say pension reform will be a top priority in 2012.

Potential changes include requiring employees to work 30 years before retiring, up from 28 years, and tying retirement to age. Workers may need to be at least 62 before collecting retirement benefits.

The panel has discussed exempting employees within five years of retirement.

Other proposed changes include requiring employees to contribute an additional percentage point of their pay toward their retirement.

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