Many public-sector retirees in South Carolina could help fill vacancies desperately needed at state and municipal agencies, but a state law discourages them from doing so.
According to The State newspaper, South Carolina public agencies are having a difficult time filling jobs that are open because of a state law that punishes retirees for returning to work in state or public-sector jobs.
The law caps the income of retirees who reenter the workforce for state or local agencies at $10,000 a year. Once a state retiree hits the $10,000 income limit they can no longer collect the pension from their state retirement.
According to the South Carolina Retirement System, the Teacher and Employee Retention Incentive (TERI) ends June 30, which could result in about 6,630 retirement-aged public-sector employees leaving their state jobs.
When TERI ends, those workers could stay on the job, but most likely few will because of the state $10,000 cap.