South Carolina § 9-8-140 Contributions of State to system.

South Carolina Statutes

§ 9-8-140 — Contributions of State to system.

South Carolina § 9-8-140

Title 9RETIREMENT SYSTEMS

Ch. 8RETIREMENT SYSTEM FOR JUDGES AND SOLICITORS

This text of South Carolina § 9-8-140 (Contributions of State to system.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 9-8-140 (2026).

Text

The contributions of the State to the System shall be determined by the Board each year on the basis of annual actuarial valuations of the System. Each year the Board shall certify to the State the amount of its contribution due the System. The State's contributions shall be appropriated annually from the general fund to the System and shall include such sums as are found necessary in order to create reserves in the System sufficient to cover the cost of the allowances currently accruing under this chapter, to include a contribution each year toward the cost of prior service credits and to cover any administrative expenses which the Board may incur in the operation of the System. The employer contribution shall be remitted to the System within thirty days after the beginning of each fiscal

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The contributions of the State to the System shall be determined by the Board each year on the basis of annual actuarial valuations of the System. Each year the Board shall certify to the State the amount of its contribution due the System. The State's contributions shall be appropriated annually from the general fund to the System and shall include such sums as are found necessary in order to create reserves in the System sufficient to cover the cost of the allowances currently accruing under this chapter, to include a contribution each year toward the cost of prior service credits and to cover any administrative expenses which the Board may incur in the operation of the System. The employer contribution shall be remitted to the System within thirty days after the beginning of each fiscal year.