South Carolina Retirement
The Marion-Dillon County Board of Disabilities and Special Needs (MDCBDSN) is a local subdivision that participates in the State of South Carolina Employee Insurance program. Marion-Dillon County Board of Disabilities and Special Needs (MDCBDSN) adopts the benefits which are determined by the South Carolina Retirement System. Both the eligibility requirements and MDCBDSN funding of these benefits are subject to change or elimination at any time, depending on funding, financial and other considerations. In addition to these State Procedures, the Agency also has created the following policies which are more specific to agency requirements and benefits.
- All permanent employees (to include full-time and part-time) are required to participate in the S.C. Retirement System.
- Temporary employees (non-permanent) are not eligible for S.C. Retirement unless they have previously contributed to the S.C. Retirement System.
- The S.C. Retirement Act sets forth the amount which will be taken from the employee's earnings for "Retirement contributions".
- Beginning July 1, 2008 the MDCBDSN will also participate in a life insurance benefit that will be equal to one (1) year of the employee's annual salary.
- An Employee who has five (5) years of service with S.C. Retirement is considered "vested" and may choose to leave their contributions with the Retirement System to receive a deferred retirement benefit at age sixty (60).
- Employees who leave employment prior to retirement may choose to withdraw their contributions plus interest. A ninety (90) day separation period must occur before the contributions can be withdrawn.
- A health insurance subsidy is defined as the amount MDCBDSN pays for the "employer" share of the employee's insurance premium. The subsidy does not cover spouse or dependents for employees who retire after January 1, 2015. Retirees prior to January 1, 2015 will continue to receive the subsidy for their dependents if applicable.
- Employees who have less than fifteen (15) years service with the S.C. Retirement will receive no health insurance subsidy should they retire.
- Employees who retire with more than fifteen (15) years of service but less than twenty-five (25) years of service will be eligible for a fifty (50) percent subsidy of the total health insurance employer premium if they have also been employed for at least five (5) consecutive years with the agency at the time of their retirement.
- Employees who retire with more than twenty-five (25) years of service will be eligible for the full subsidy of the total health insurance employer premium if they have also been employed for at least five (5) consecutive years with the agency at the time of their retirement.
- The health insurance subsidy will continue until the employee is eligible for Medicare or turns age sixty-five (65), at which time the subsidy will be discontinued.
- Employees who retire under disability after five (5) years of service and designated by the S.C. Retirement System as "fully retired under disability" will receive the same health insurance premium subsidy as the employee who retires with over twenty-five (25) years of service.
- Employees who have elected to join the S.C. Retirement TERI program, or have retired and continue to work for MDCBDSN will also be eligible for the subsidy as indicated above.
- The agency will account for future retiree health premiums and report this liability on its annual audit as required by GASBY 45.
Insurance will not be automatically continued upon retirement. Retirees must contact MDCBDSN Human Resources within 31 days of retirement date to arrange for continuation of retiree insurance and to complete the necessary paperwork. If the retiree and/or dependent do not enroll within 31 days of retirement, insurance does not continue and retiree will not be permitted to enroll as a late entrant.
A retiree who elects reenrollment must resolve any outstanding premiums from prior coverage. This may be due to non-sufficient funds, account closure, etc. Outstanding premiums will be due the first month of active coverage.
The ability of MDCBDSN to continue this policy or any revision thereto is dependent on funding, financial and other considerations. This policy may be revised, amended or cancelled at anytime.