South Carolina Agreement For Retirement
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FAQ
You can retire and receive an unreduced monthly retirement benefit after 28 years of service or at age 65 or older. You can retire early, at age 60, or at age 55 with 25 years of service, and receive a reduced monthly retirement benefit. You must have at least five years of earned service to receive a benefit.
You are not required to withdraw your contributions and interest at termination. Your refund may be rolled over to another eligible retirement plan or an Individual Retirement Account (IRA) as allowed by the Internal Revenue Code.
0421omplete the w4101 form for free The Police Officers Retirement System (PORS) is a defined benefit retirement plan primarily for public safetypublic higher education institutions and other local subdivisions of government that participate in PORS.
Monthly retirement benefit is based on a formula (1.82 percent of average final compensation multiplied by years of service), not on your account balance at retirement. Current state law provides for an annual benefit adjustment of 1 percent of your annual benefit up to a maximum of $500 per year.
