The five defined benefit plans that make up the Retirement System are administered by the Public Employee Benefits Administrator (PEBA). The RSIC and PEBA work together to pay beneficiaries. PEBA is the administer of the defined benefit plans, taking in contributions and making disbursements, while the RSIC manages the assets through investments.
Defined benefit plansPEBA administers a fixed monthly annuity based on a formula that includes your years of service, earnable compensation and a benefit multiplier. The defined benefit plans are:
- South Carolina Retirement System (SCRS)
- Police Officers Retirement System (PORS)
- General Assembly Retirement System (GARS)
- Judges and Solicitors Retirement System (JSRS)
- South Carolina National Guard Supplemental Retirement Plan (SCNG)
Additional information regarding the defined benefit plans can be found on the PEBA website.
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