The Judges and Solicitors Retirement System (JSRS) is a defined benefit retirement plan PEBA administers for South Carolina’s public justices, judges, solicitors and circuit public defenders.
Membership in JSRS is mandatory for anyone taking office as Chief Justice of the South Carolina Supreme Court, Associate Justice of the South Carolina Supreme Court, Court of Appeals Judge, Circuit Court Judge, Family Court Judge, Administrative Law Judge, Solicitor or Circuit Public Defender prior to age 72.
You contribute a tax-deferred 10 percent of your gross pay. Your JSRS account earns 4 percent interest compounded annually until you retire or your account becomes inactive.
Retirement plan assumes life expectancy and investment risk
If you’re like many of us, you look forward to retirement as the time when you will be able to enjoy the things you like to do with the people about whom you care the most. As a member of JSRS, you need to meet the plan’s eligibility requirements to retire and receive a benefit. See the JSRS Member Handbook for details.
While meeting the plan’s retirement eligibility requirements is something to look forward to, being eligible to retire doesn’t necessarily mean you are ready, financially or emotionally. What you do during your years of employment can make a big difference in whether or not you are prepared for your future.
Planning for your future resources
Whether you’re a new employee or someplace else in your career, PEBA has retirement awareness resources that can help you as you plan for a secure financial future. If you make planning and saving for your future a priority now, you’ll be glad you did when you become eligible to retire because it may mean the difference between being eligible to retire and being able to retire.