Section 9-16-5.1 - Contributions to system--Amount required. - South Dakota Statutes

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, § 6.