Looking for clarification/interpretation regarding Unrecovered Pension Investments reported on Schedule A Line 16. Scenario - several clients have retired from the local County Police in South Carolina, drawing full SC Pension. Went back to work for the County, continuing to draw pension, but are required to continue to contribute to the retirement fund, without any further benefit. Am I correct in interpreting his contribution as an Unrecovered Pension Investment? Any opinions or rulings are welcome, I cant' find anything definitive online.
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Thanks for the response. These folks are being rehired into the same agency/department, and paying into the same retirement fund. The following statement was taken from "Hutto v. South Carolina Retirement System" ruling : "The plaintiffs are public employees and participants in two pension plans created by South Carolina in 1962—the South Carolina Retirement System and the South Carolina Police Officers Retirement System (collectively, “the Retirement System”).1 See S.C.Code Ann. §§ 9–1–20, 9–11–20(1). In their complaint, they alleged that they and others similarly situated are “retired contributing members” of the Retirement System, who returned to work on or after July 1, 2005, when the 2005 Act went into effect, and who are, by reason of the 2005 Act, required “to contribute a portion of their gross earnings” to the Retirement System “without receiving any additional service credit or interest on their retirement accounts.”
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