How was the South Carolina Public Employee Benefit Authority (PEBA) established?
PEBA was established by the S.C. General Assembly on July 1, 2012, as part of the retirement reform legislation, Act No. 278. The Employee Insurance Program (EIP) and the South Carolina Retirement Systems were incorporated into PEBA.
How is PEBA governed?
PEBA is governed by an 11-member board. Three members are appointed by the Governor. The President Pro Tempore of the Senate, the chairman of the Senate Finance Committee, the Speaker of the House of Representatives and the chairman of the House Ways and Means Committee each appoint two members. Four board members must be active or retired members of the Retirement Systems. The Governor, the chairman of the House Ways and Means Committee and the chairman of the Senate Finance Committee will designate the first chairman of PEBA's board. This chairman will serve through December 31, 2013. Thereafter, the PEBA board will select a non-representative member to serve as its chairman.
Who oversees the day-to-day operations?
Peggy G. Boykin, CPA, was appointed to serve as the interim executive director of PEBA effective July 28, 2014. As executive director, Mrs. Boykin oversees the day-to-day operations of PEBA and will report directly to the PEBA board.
What has happened to the funds employees and employers have contributed to the South Carolina Retirement Systems and the Employee Insurance Program?
The funds for both divisions will continue to be invested in the same way they have been in the past.
What role does the SC Budget and Control Board play in the new system?
The PEBA board’s policy determinations are subject to approval by the SC Budget and Control Board or its successor.
How will my health, dental, and other insurance benefits be affected by PEBA?
No immediate changes are planned in the services EIP offers to members and employers. It will continue its efforts to provide affordable, competitive benefits for the public employees of South Carolina.