Retirement Benefits & Information
Spartanburg School District 7 is committed to providing you with easy to understand, useful information about your retirement benefits. We also want to help make sure you know how important it is to start planning and saving for a secure financial future now. Check out the highlighted resources below to learn more.
Retirement Benefits VideosPEBA’s YouTube channel features a variety of videos designed to provide you with overviews of your retirement benefits and to highlight topics of which you might otherwise be unaware.
Retirement Benefits Resources Page
Go to PEBA's Retirement Benefits Resources page to view our various publications, find out more about using online account access and learn about how we provide engaging benefits information on our social media sites.
Retirement Information & ResourcesRetirement participation is either mandatory or optional depending on the position and terms of employment with Spartanburg School District 7. For most positions, participation is mandatory with a fixed contribution rate South Carolina Retirement System.The South Carolina Retirement System (SCRS) offers the option of a defined benefit plan to all Spartanburg School District 7 employees. Employees are required to contribute at the specified rate 9.0%. Spartanburg School District 7 contributes 19.06%. Employee contributions are on a pre-tax basis. Benefits and vesting rights are define by the SCRS. Benefits are defined by a retirement formula and is a lifetime benefit. Optional membership is available to bus drivers, temporary employees and substitutes. For details, visit the South Caroina Retirement System. Enrollment is required within 30 days of the hire date. Employees that do not make an election within 30 days will be defaulted into SCRS. OptionalThe South Carolina Optional Retirement Plan (ORP) is another retirement plan option available to all Spartaburg School District 7 employees. The ORP is a defined contribution plan administered by four contracted investment providers. Employees are required to contribute at the State specified rate of 9%. The District contributes 5% (as defined by the State) to each employee’s account. All contributions are made on a pre-tax basis and immediately vested. For details visit South Carolina Optional Retirement Plan. Enrollment is required within 30 days of the hire date. Employees that do not make an election within 30 days will be defaulted into SCRS.Social Security/MedicareWhen planning for retirement, you should consider your eligibility for social security and Medicare benefits. Information is available on the Social Security Administration’s website. Any employee of Spartanburg County School District 7 is eligible to enroll in South Carolina Retirement. The SC Retirement System will only provide a percentage of your income at the time you retire. For information on ways to invest additional pre-tax dollars in a 403b, 401k or 457 plans to supplement your retirement income, please contact Vickie Hutchins, Benefits Coordinator at 864.594.6184 or firstname.lastname@example.org