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Press Release   The SCEA Supports Pension Bill     Gov McMaster Signs Pension Bill H.3726 Into Law


 
LEFT: Photos taken during the Unification Dinner in Columbia on April 1.  Use the arrows to move through the slides manually.  RIGHT: Unification Video of the merger between SC Education Association and Palmetto Education AssociationFor better viewing, use sound and full screen mode.


MARCH 26, 2017
BERNADETTE R. HAMPTON
Guest Columnist
www.thestate.com

COLUMBIA, SC - The state Senate’s plan to eventually close the state employee pension fund for future employees and place them into a risky, inefficient 401(k)-style plan is the wrong direction for South Carolina, and the House should reject this idea.

Lawmakers could end state pension plan for new employees 9% pension rate cap for SC public workers soon could be law.

Pensions remain the best way to provide a secure retirement for all workers. A handful of states have abandoned pensions for what are called defined-contribution (as opposed to defined-benefit) plans and have suffered the consequences. According to the National Institute on Retirement Security, a typical defined-contribution plan costs the state 91 percent more than a typical defined-benefit plan.  Click to read more ...

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Press Release  The SCEA Supports Pension Bill
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