The public workforce of South Carolina can go for beneficial retirement plans offered by the South Carolina PEBA or Public Employee Benefit Authority. Here, one would be able to find comprehensive retirement plans that are fair for the stakeholders and capable of catering to the needs of the individuals at the same time. PEBA offers plans for general citizens, employers, retirees and employees. It is committed to providing top notch retirement plans.
It is important to select a good retirement plan for yourself so that you will be able to live a comfortable life independently after you retire. It is never too late to apply for such a plan because the sooner you start, the better off you’d be. By opening a retirement account under South Carolina retirement system you will be able to make contributions to it on a tax-deferred basis. Moreover, by being an active member, one would be able to enjoy interests of up to 4% compounded annually on the balance of one’s retirement account.
The best part about opening such an account is that the interest will keep accruing until the account becomes inactive, i.e. when one has made no contributions to the account for a period of twelve months. Thus, it is advisable to be active in order to continue receiving the benefits. In fact, active members of the South Carolina retirement system can also opt for an additional retirement savings plan. This is a completely voluntary one.
The official website of South Carolina PEBA has a host of resources that one can use, such as calculators, publications, webpages containing useful information, legislative updates and so on. Thus, all the useful resources that you may need are available in one place. One can also connect with the PEBA by signing up for news feeds, following them on Twitter or liking their page on Facebook.