Human Resources

Q:

Teacher & Employee Retention Incentive (TERI): B. What are the eligibility requirements for participation in the TERI program?



A:

Faculty and staff who are active members of the S.C. Retirement System and who have at least five years of earned service may participate in the TERI program if they qualify to retire with one of the following options:

  • Reduced benefit retirement at age 60 or at age 55 with 25 years of service
  • Regular retirement at age 65 or with 28 years of service.

Note: Prior service in the S.C. Retirement System may be reestablished to meet the five-year earned service requirement. Retirement benefits will be reduced by 5 percent for each year the employee is under the age of 65, or 4 percent for each year the employee has under 28 years of service, whichever is less.

The TERI plan is not available to employees who participate in the Police Officer Retirement System or the Optional Retirement Program.




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