South Carolina § 8-23-20 - Deferred Compensation Program.
Full text of South Carolina South Carolina Code of Laws § 8-23-20 — Deferred Compensation Program., with citation guidance and answers to common questions.
§ 8-23-20. Deferred Compensation Program.
The Board of Directors of the South Carolina Public Employee Benefit Authority shall establish such rules and regulations as it deems necessary to implement and administer the Deferred Compensation Program. The board shall make such administrative appointments and contracts as are necessary to carry out the purpose and intent of this chapter and in the administration of account assets. For purposes of administering this program, an individual account shall be maintained in the name of each employee.
The board shall select, through competitive bidding and contracts, plans for purchase of fixed and variable annuities, savings, mutual funds, insurance, and such other investments as the board may approve which are not in conflict with the State Constitution and with the advice and approval of the State Treasurer.
Costs of administration may be paid from the interest earnings of the funds accrued as a result of deposits or as an assessment against each account.
HISTORY: 1977 Act No. 97 SECTION 2; 1990 Act No. 430, SECTION 1, eff April 25, 1990; 2008 Act No. 305, SECTION 1, eff June 11, 2008; 2012 Act No. 278, Pt IV, Subpt 2, SECTION 38.A, eff January 1, 2014.
Frequently Asked Questions About South Carolina § 8-23-20
What does South Carolina Code of Laws § 8-23-20 cover?
Section 8-23-20 ("Deferred Compensation Program.") 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 § 8-23-20?
A common citation format is "South Carolina Code of Laws § 8-23-20" (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 § 8-23-20 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.