South Carolina Statutes
§ 9-1-1090 — Discontinuance of accrued liability contribution.
The accrued liability contribution shall be discontinued as soon as the accumulated reserve in the employer annuity accumulation fund shall equal the present value, as actuarially computed and approved by the Board, of the total liability of such fund less the present value, computed on the basis of the normal contribution rate then in force, of the prospective normal contributions to be received on account of all persons who are at the time members.
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South Carolina § 9-1-1090 (Discontinuance of accrued liability contribution.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 61-70; 1952 Code SECTION 61-70; 1945 (44) 212; 1949 (46) 424.
Nearby Sections
15
§ 9-1-10
Definitions.§ 9-1-1010
Assets to be credited to employee annuity savings fund and employer annuity accumulation fund.§ 9-1-1030
Deductions must be made although compensation is reduced below legal minimum; consent to deductions.§ 9-1-1060
Normal contribution rate.§ 9-1-1070
Accrued liability contribution rate.