South Carolina Retirement System

• Am I Eligible to Retire?

  Class Two Members: membership effective prior to July 1, 2012

  • Unreduced monthly retirement benefit after 28 years of service or at age 65 or older.
  • Reduced monthly retirement, at age 60 or at age 55 with 25 years of service.
  • You must have at least five years of earned service to receive a benefit.

  Estimate your retirement benefit by going to Member Access or by contacting PEBA.

  Note: Your retirement membership date may be different than your hire date; visit Member Access to find your membership date.

  Class Three members: membership effective on or after July 1, 2012

  • Unreduced monthly retirement benefit once your age and years of service total 90, or at age 65 or older.
  • Reduced monthly retirement at age 60.
  • You must have at least eight years of earned service to receive a benefit.

  Estimate your retirement benefit by going to Member Access or by contacting PEBA.

  Note: Your retirement membership date may be different than your hire date; visit Member Access to find your membership date.

• How to Proceed if You are Eligible and Ready to Retire

  Retirement Counseling:

  For an individualized retirement counseling session, contact PEBA. PEBA can answer questions regarding your retirement benefits and the retirement application process. Schedule your appointment with PEBA.

  SCRS members may use the Applying for Service Retirement Checklist as a guide to assist through the service retirement application process.

  Application for Retirement:

  Complete online via Member Access up to six months prior to your desired effective date of retirement but no later than 90 days after. Your retirement date is the first date you are NOT working.

  If you do not receive notification of PEBA’s receipt of your application within 10 days after submitting it, contact the Customer Contact Center at 803.737.6800 or 888.260.9430. Do not terminate employment until PEBA has verified your service credit and you receive written notice of your retirement eligibility from PEBA. This notice will be sent to you in the mail and is entitled Notification of Retirement Eligibility and Estimated Benefit.

  Health Coverage:

  Applying for the State Retiree Insurance: Enrollment in the state retiree insurance coverage is not automatic. Before enrolling in retiree insurance, it is necessary to first confirm your eligibility by completing the Employment Verification Record (PDF).

  Send the Employment Verification Record to PEBA Insurance at 202 Arbor Lake Drive, Columbia, SC 29223 up to six months prior to your anticipated retirement date. Determination of eligibility comes from PEBA (SC’s Public Employee Benefits Authority) and will be sent to you in writing via the U.S. Postal Service.

  Enrolling in Retiree Insurance: Upon confirmation of eligibility, complete the Retiree Notice of Election form (PDF) and Certification Regarding Tobacco or E-cigarette Use (PDF). Send the forms to PEBA Insurance at 202 Arbor Lake Drive, Columbia, SC 29223 within 31 days of your retirement date.

  Enrolling in Medicare: If you are 65 years or older, contact your local social security office to determine how to sign up for your Medicare options.

  Notify Your Department:

  Complete the Notice of Resignation or Retirement Form (PDF) and submit to your supervisor for acknowledgment.

  Once you submit the Notice of Retirement, your decision to retire cannot be rescinded unless authorized by the Chief Human Resources Officer.

• Additional Information

  Annual Leave Payout:

  Employees in regular full-time equivalent (FTE) positions and temporary time-limited positions may receive a lump-sum payment for unused annual leave not to exceed 45 days on your final paycheck.

  SCRS Class Two Members can receive an amount up to 45 days’ termination pay for unused annual leave at retirement which can be included in your Average Final Compensation calculation. Class Two members may also receive service credit for up to 90 days of unused sick leave. This service credit cannot be used to establish retirement eligibility. These items do not apply to SCRS Class Three Members.

  Access Kronos to review your annual and sick leave balances.

  Deferring Annual Leave Payout for Tax Savings: Set aside payout funds in a Supplemental Retirement Account (SRP) for tax saving purposes. Contact one of our approved Supplemental Retirement Account providers to open your account.

  • To defer a 401(k) or 457(b) account, complete the Annual Leave Worksheet (PDF) and submit to empins@clemson.edu.
  • To defer a 403(b) account, log in to My Retirement Manager. For questions regarding Retirement Manager, contact Corebridge Financial.

  Donate to the Leave Pool:

  An eligible faculty or staff member may donate up to one-half of the annual or sick leave earned within a calendar year to the appropriate leave pool. Learn more about the Leave Transfer (Pool) Program by visiting the Leave Donation webpage. All donations must be finalized prior to separation of employment.

  Supplemental Retirement Account:

  If you contribute to a 401K, 457(b) or 403(b) account, contact your SRP provider financial advisor for assistance with distribution options.

SCRS Retirement Support:

• PEBA

  PEBA offers assistance with:

  • Retirement Application
  • Retiree insurance options
  • Employment Verification Forms
  • Retiree Notice of Election Forms
  • Service purchase
  • Annuity/Benefit payments
  • 1099R forms

  Email or Phone Consultations

  PEBA’s Customer Contact Center is available to provide full services to its members from 8:30 a.m. ET until 5:00 p.m. ET, Monday through Friday.

  Contact PEBA

  Video Consultations

  Video consultations are a good option if you have questions related to PEBA-administered benefits that have not been resolved over the phone or through email.

  Schedule an Appointment

• Social Security Office

  Contact your local social security office for assistance with Medicare enrollment and other Medicare related questions.

  Submit request for employment information (CMS-L564) to empins@clemson.edu.