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
Guest Columnist

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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