Understanding your retirement plan Retirement

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Understanding your retirement plan Retirement Starts Now Mid-career Fiscal year 2022 Retirement plans Defined benefit plans: South Carolina Retirement System (SCRS). Police Officers Retirement System (PORS). Offer lifetime retirement

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Understanding your retirement plan Retirement Starts Now | Mid-career
Fiscal year 2022<br>
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Retirement plans Defined benefit plans:
South Carolina Retirement System (SCRS).
Police Officers Retirement System (PORS).
Offer lifetime retirement benefit, disability and death benefits.
Defined contribution plan:
State Optional Retirement Program (State ORP).
Benefit is balance in participant’s account.
Offers some death benefits.
Voluntary, supplemental retirement savings plans through the South Carolina Deferred Compensation Program. 2<br>
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SCRS, PORS membership classes Class Two: earned service began prior to July 1, 2012.
Class Three: earned service began on or after July 1, 2012.
Membership class affects:
Service retirement eligibility;
Average final compensation calculation; and
Credit for unused leave at retirement. 3<br>