South Carolina § 9-1-1070 - Accrued liability contribution rate.
Full text of South Carolina South Carolina Code of Laws § 9-1-1070 — Accrued liability contribution rate., with citation guidance and answers to common questions.
§ 9-1-1070. Accrued liability contribution rate.
The rate per cent determined immediately after the first valuation by the actuary engaged by the Board as the rate per cent of the total annual earnable compensation of all members which is equivalent to four per cent of the amount of the total employer annuity liability on account of all members and beneficiaries which is not dischargeable by the aforesaid normal contribution made on account of such members during the remainder of their active service shall be known as the "accrued liability contribution rate." Such rate shall be increased on the basis of subsequent valuations if benefits are increased over those included in the valuation on the basis of which the original accrued liability contribution rate was determined. Upon certification by the actuary engaged by the Board that the accrued liability contribution rate may be reduced without impairing the System, the Board may cause the accrued liability contribution rate to be reduced.
HISTORY: 1962 Code SECTION 61-68; 1952 Code SECTION 61-68; 1945 (44) 212; 1949 (46) 424; 1955 (49) 38.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 9-1-1070
What does South Carolina Code of Laws § 9-1-1070 cover?
Section 9-1-1070 ("Accrued liability contribution rate.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 9-1-1070?
A common citation format is "South Carolina Code of Laws § 9-1-1070" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 9-1-1070 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.