South Dakota § 3-12C-1638 Amount of payment to system by City of Huron.

South Dakota Statutes

§ 3-12C-1638 — Amount of payment to system by City of Huron.

South Dakota § 3-12C-1638

Title 3PUBLIC OFFICERS AND EMPLOYEES

Ch. 3-12BSOUTH DAKOTA RETIREMENT SYSTEM

This text of South Dakota § 3-12C-1638 (Amount of payment to system by City of Huron.) 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-1638 (2026).

Text

The city of Huron shall pay to the system an amount equal to the present value of all benefits earned by the members described in § 3-12C-1635 up to July 1, 1998, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1998. That amount shall be calculated as of the close of business on June 30, 1998, by the system's actuary. Any amount to be paid to the system by the city of Huron which exceeds the value of the assets of the city of Huron firemen pension fund, calculated as of the date of transfer of such assets, may be paid in periodic installments as provided in § 3-12C-308 .

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The city of Huron shall pay to the system an amount equal to the present value of all benefits earned by the members described in § 3-12C-1635 up to July 1, 1998, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1998. That amount shall be calculated as of the close of business on June 30, 1998, by the system's actuary. Any amount to be paid to the system by the city of Huron which exceeds the value of the assets of the city of Huron firemen pension fund, calculated as of the date of transfer of such assets, may be paid in periodic installments as provided in § 3-12C-308 .