SECTION 57. Section 111770(A) of the 1976 Code, before the first item, is amended to read: Subject to appropriations, the General Assembly authorizes “(A) the State Budget and Control Board board to plan, develop, and implement a statewide South Carolina 211 Network, which must serve as the single point of coordination for information and referral for health and human services. The objectives for establishing the South Carolina 211 Network are to:” SECTION 58. A. Sections 82320 and 82330 of the 1976 Code, as last amended by Act 305 of 2008, are amended to read: 82320. A Deferred Compensation Commission is “Section established consisting of eight members including the director of the South Carolina Retirement System, chief investment officer of the State Retirement System Investment Commission, and the executive director of the State each of Employees’ Association, whom serve ex officio, and five other public employees to be appointed by the State Budget and Control Board, at least two of whom must be state employees and one must be a retired public employee. The appointed members shall serve for terms of three years and until their successors are appointed and qualify. The State Budget and Control Board shall designate the chairman. The commission 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 commission 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 commission 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 commission 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.
SECTION 57. Section 111770(A) of the 1976 Code, before the first item, is amended to read: “(A) Subject to appropriations, the General Assembly authorizes the State Budget and Control Board board to plan, develop, and implement a statewide South Carolina 211 Network, which must serve as the single point of coordination for information and referral for health and human services. The objectives for establishing the South Carolina 211 Network are to:” SECTION 58. A. Sections 82320 and 82330 of the 1976 Code, as last amended by Act 305 of 2008, are amended to read: “Section 82320. A Deferred Compensation Commission is established consisting of eight members including the director of the South Carolina Retirement System, chief investment officer of the State Retirement System Investment Commission, and the executive director of the State Employees’ Association, each of whom serve ex officio, and five other public employees to be appointed by the State Budget and Control Board, at least two of whom must be state employees and one must be a retired public employee. The appointed members shall serve for terms of three years and until their successors are appointed and qualify. The State Budget and Control Board shall designate the chairman. The commission 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 commission 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 commission 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 commission 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.
3066_20120221A.docx