Business License Proposal to State Retirement System

14 Mar Business License Proposal to State Retirement System

If it’s not one this it’s another.

While it appears that the business license proposal that could have cost SC municipalities serious dollars, fortunately,  went back to committee so the parties could try to work out an equitable arrangement, it now appears government employees and local governments will be called upon to make up dollars lost to a poorly managed state retirement system.

Deductions from public employee pay checks could raise to 9% while the employer share could approach if not exceed 20%.  Over the years this could cut deeply into services at the local level because this is one expense over which we have no control and revenue generation has already been capped by the state.

Read how other governments will be be impacted.

SC towns, counties and schools to pay for shoring up pensions