South Carolina § 59-1-470 - Distribution of funds for deferred compensation.
Full text of South Carolina South Carolina Code of Laws § 59-1-470 — Distribution of funds for deferred compensation., with citation guidance and answers to common questions.
§ 59-1-470. Distribution of funds for deferred compensation.
Funds appropriated by the General Assembly for a deferred compensation employer matching contribution must be distributed by the State Department of Education to school districts for the purpose of providing an employer matching contribution for eligible school district employees making contributions to deferred compensation plans offered by the South Carolina Deferred Compensation Commission or, after December 31, 2013, the South Carolina Public Employee Benefit Authority, or other approved and qualified plans of other providers. These funds must be distributed in a manner consistent with the provisions of Section 8-23-110. The employer matching contribution by the school district may not exceed three hundred dollars for each eligible employee a year.
HISTORY: 2001 Act No. 1, Part II, SECTION 4; 2012 Act No. 278, Pt IV, Subpt 2, SECTION 61, eff July 1, 2012.
Effect of Amendment
The 2012 amendment inserted "or, after December 31, 2013, the South Carolina Public Employee Benefit Authority," and removed "Individuals eligible for the matching contribution must be classified as required in Section 9-20-20, the Optional Retirement Program for Teachers and School Administrators.".
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-1-470
What does South Carolina Code of Laws § 59-1-470 cover?
Section 59-1-470 ("Distribution of funds for deferred compensation.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 59-1-470?
A common citation format is "South Carolina Code of Laws § 59-1-470" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 59-1-470 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.