Adjusts the retirement allowance for retirees and their surviving annuitants in South Carolina.

The bill amends Section 9-11-312 of the South Carolina Code to increase the retirement allowance for retirees and their surviving annuitants. Effective July 1, 2026, and annually thereafter, the allowance will increase by the lesser of two percent or five hundred one thousand dollars. Only those retirees and their surviving annuitants in receipt of an allowance on July 1 preceding the effective date of the increase are eligible to receive the increase. This act takes effect upon approval by the Governor.

Adjusts the retirement allowance for retirees and their surviving annuitants in South Carolina.

The bill amends Section 9-11-312 of the South Carolina Code to increase the retirement allowance for retirees and their surviving annuitants. Effective July 1, 2026, and annually thereafter, the allowance will increase by the lesser of two percent or five hundred one thousand dollars. Only those retirees and their surviving annuitants in receipt of an allowance on July 1 preceding the effective date of the increase are eligible to receive the increase. This act takes effect upon approval by the Governor.