• Traditional retirement system through South Carolina Public Employee Benefit Authority (PEBA) South Carolina Retirement System (SCRS) and Police Officers Retirement System (PORS).
• You contribute a tax-deferred 9% (9.75% for police & fire) of gross pay deducted automatically each pay period.
• The City contributes 18.56% (21.24% for police & fire) of gross pay. 
• After 8 years of service at the City of Rock Hill you're vested in the system, meaning the amount contributed by the City remains in your account. 
• Your account earns 4 percent interest compounded annually until you retire or your account becomes inactive.
• Monthly retirement benefit is based on a formula, not on your account balance at retirement, so the general economy doesn't impact retirement earnings.
• An account is considered inactive when no contributions have been made to it in the preceding fiscal year and no other active, correlated system or State Optional Retirement Program (State ORP) account exists.

• The South Carolina Deferred Compensation Program provides participants with investing options through its 401(k) and 457(b) retirement savings plans.
• The minimum amount you can contribute to each plan is $10 per pay period.
• The IRS sets annual contribution limits for both 401(k) and 457(b) Plans.

401(k)

• The Program’s 401(k) Plan allows you to contribute either before-tax or after-tax (Roth) dollars.
• Before-tax dollars go into a traditional 401(k), and are taxable upon distribution.
• Roth contributions are made with after-tax dollars—so you've already paid income tax on that money.
• Both options have an early withdrawal penalty for taking a distribution before you reach age 59½.

457(b)

• The Program’s 457(b) Plan is available to state and local government employees.
• Like a 401(k), you can make before-tax or after-tax Roth contributions.
• Unlike a 401(k), the early withdrawal penalty does not apply to pre-tax 457(b) plan withdrawals. It does apply to the Roth 457(b) plan.