South Dakota § 3-12C-1623 Amount to be paid by municipality of Aberdeen.

South Dakota Statutes

§ 3-12C-1623 — Amount to be paid by municipality of Aberdeen.

South Dakota § 3-12C-1623

Title 3PUBLIC OFFICERS AND EMPLOYEES

Ch. 3-12BSOUTH DAKOTA RETIREMENT SYSTEM

This text of South Dakota § 3-12C-1623 (Amount to be paid by municipality of Aberdeen.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 3-12C-1623 (2026).

Text

The municipality of Aberdeen shall pay to the system an amount equal to the present value of all benefits earned by individuals described in § 3-12C-1621 up to July 1, 1994, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1992. That amount shall be determined on July 1, 1994, by the system's actuary. Any amount to be paid to the system by the municipality of Aberdeen which exceeds the value of the assets of the municipality of Aberdeen firemen's relief and pension fund, determined as of the date of transfer, shall be paid pursuant to the provisions of § 3-12C-308 .

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The municipality of Aberdeen shall pay to the system an amount equal to the present value of all benefits earned by individuals described in § 3-12C-1621 up to July 1, 1994, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1992. That amount shall be determined on July 1, 1994, by the system's actuary. Any amount to be paid to the system by the municipality of Aberdeen which exceeds the value of the assets of the municipality of Aberdeen firemen's relief and pension fund, determined as of the date of transfer, shall be paid pursuant to the provisions of § 3-12C-308 .