How does sc teri program work

Schools and state agencies have known this day was coming and should already have a plan in place to deal with the inevitable fallout. The University of South Carolina, for example, has been working on how it will deal with the exit of some of its employees in the program. Others would be wise to do the same, to the extent possible in the limited time frame. The Legislature did the right thing by pulling off the TERI program Band-Aid, even though the problem of retaining teachers will have to be addressed anew.

School districts have no other option but to work on solutions. The Legislature must address the situation as well next session. As time runs out on TERI, the districts will need all the help they can get to systematically handle an issue that could have major down side for schools and students. Edit Close. Toggle navigation Menu. Special Report. Federal corruption prosecutions are way down across the nation and in SC. Sign up for our new opinion newsletter Get a weekly recap of South Carolina opinion and analysis from The Post and Courier in your inbox on Monday evenings.

Email Sign Up! Decisions to re-hire a previous TERI program participant will be made in a non-discriminatory manner.

If the previous TERI program participant is approved for rehire, and is selected to fill a temporary vacancy, the employee will be subject to the same policies and procedures governing temporary employees.

If the previous TERI program participant is hired into a temporary position that is eligible for benefits, the employee may elect active employee coverage, in lieu of retiree coverage, within 31 days of the hire date provided the employee is less than 65 years of age. Upon separation, the following will occur: Employee will experience a break in service and will not retain a full-time position. The annual leave payment will be used in recalculating the average final compensation of the member to determine the benefit the member receives after participation in the program.

Employees are only allowed to enroll or make changes to retirement benefits during specific time periods throughout the year. Learn more about the enrollment process and some exceptions that may apply. If you enroll in both a k and b, you may contribute to both plans to maximize your retirement savings; however, there are limits on the combined total.

You may max out the k combined with the b if applicable and plans. You can also call Empower Retirement at Use the resources listed below to get quick access to more information about your retirement benefits. Division of Human Resources SC. State Retirement Benefits. All paid employees, except students are eligible for state retirement benefits. To enroll the program you will need to sign up with the university and with the annuity provider: Sign up with the university.