South Dakota § 3-12C-227 System annual actuarial valuation--Basis--Report of change.

South Dakota Statutes

§ 3-12C-227 — System annual actuarial valuation--Basis--Report of change.

South Dakota § 3-12C-227

Title 3PUBLIC OFFICERS AND EMPLOYEES

Ch. 3-12BSOUTH DAKOTA RETIREMENT SYSTEM

This text of South Dakota § 3-12C-227 (System annual actuarial valuation--Basis--Report of change.) 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-227 (2026).

Text

The actuarial valuation required by § 3-12C-226 , must be based on actuarial assumptions adopted by the board, as a result of an actuarial experience analysis. The board may not make any change in the actuarial assumptions unless the approved actuary retained to make the actuarial valuation certifies that the change is reasonable. If the board makes a change, the board must report the change to the Governor and to the Retirement Laws Committee. The report must include the actuary's and board's analysis of the conditions that led to the change.

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The actuarial valuation required by § 3-12C-226 , must be based on actuarial assumptions adopted by the board, as a result of an actuarial experience analysis. The board may not make any change in the actuarial assumptions unless the approved actuary retained to make the actuarial valuation certifies that the change is reasonable. If the board makes a change, the board must report the change to the Governor and to the Retirement Laws Committee. The report must include the actuary's and board's analysis of the conditions that led to the change.