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.
Source: SL 1984, ch 56, ยง6.
Structure South Dakota Codified Laws
Title 9 - Municipal Government
Chapter 16 - City Retirement Systems And Pensions
Section 9-16-2 - Conversion of pension law to retirement system without voters' authorization.
Section 9-16-3 - Ordinance establishing retirement system--Provisions to be included.
Section 9-16-3.1 - Board of Trustees.
Section 9-16-3.2 - Change of employee contributions or benefits--Requirements.
Section 9-16-3.3 - Pension allowed firefighters for impairment caused by cancer.
Section 9-16-4 - Inclusion of firemen in retirement system.
Section 9-16-4.2 - Deferred compensation program for volunteer advanced life support personnel.
Section 9-16-5.1 - Contributions to system--Amount required.
Section 9-16-5.2 - Change of benefits--Restrictions.
Section 9-16-5.3 - Annual report--Contents--Publication--Filing.
Section 9-16-5.4 - Audit of financial statements.
Section 9-16-5.5 - Administrator--Qualifications--Employees--Bond.
Section 9-16-5.6 - Summary system description--Availability--Contents.
Section 9-16-5.7 - Description furnished to member--Charge.
Section 9-16-5.8 - Information furnished to members annually.
Section 9-16-5.9 - Records of employer.
Section 9-16-5.10 - Fiduciary of system--Duties--Definition.
Section 9-16-5.11 - Time for compliance--Remedy for noncompliance.
Section 9-16-9 - Gifts, devises, and bequests for fund.
Section 9-16-10 - Investment of moneys of retirement system.
Section 9-16-11 - Previously granted pensions as obligation of retirement system.
Section 9-16-20 - First and second class municipalities authorized to pension firemen.
Section 9-16-23 - Sources of municipal pension fund.
Section 9-16-25 - Firemen's contributions to pension fund--Deduction from salary.
Section 9-16-26 - Refund of members' contributions on termination of employment prior to retirement.
Section 9-16-27 - Retirement board to administer pension fund--Rules for operation of fund.
Section 9-16-28 - City treasurer as custodian of fund--Liability of surety on bond.
Section 9-16-45 - Circulatory or respiratory disease presumed occupational in firemen.
Section 9-16-46.1 - Postretirement redetermination of pensions--Restrictions.
Section 9-16-47 - Benefits and contributions exempt from assignment and process.
Section 9-16-48 - Validation of pensions and benefits previously paid.