S.D. Codified Laws § 9-16-5.1

Current through the 2024 Legislative Session

Section 9-16-5.1 - Contributions to system-Amount required

Total contributions in each year to a retirement system subject to this chapter shall be sufficient to fund the following:

(1) The administrative cost of the plan during the year;

(2) The actuarially determined cost of future benefits accruing to members during the year; and

(3) An amount sufficient to amortize any unfunded liability of the system over a period not to exceed forty years on the basis of reasonable and generally accepted actuarial assumptions.

SDCL 9-16-5.1

SL 1984, ch 56, § 6.