South Dakota § 3-12C-109 - Minimum actuarial requirement to support benefits defined.
Full text of South Dakota South Dakota Codified Laws § 3-12C-109 — Minimum actuarial requirement to support benefits defined., with citation guidance and answers to common questions.
§ 3-12C-109. Minimum actuarial requirement to support benefits defined.
For purposes of this chapter, "minimum actuarial requirement to support benefits" means the normal cost and the interest on and amortization of the unfunded actuarial accrued liability over a period not to exceed twenty years, all expressed in terms of a percentage of covered payroll and based on the baseline COLA or the restricted COLA, as applicable. If the actuarial value of assets exceeds the actuarial accrued liability, the minimum actuarial requirement to support benefits includes recognition of the amount by which the actuarial value of assets exceeds the actuarial accrued liability. In no event may the recognition reduce the minimum actuarial requirement to support benefits to a percentage less than the contribution rate.
Source: SL 2018, ch 33, § 13; SDCL § 3-12-120.4; SL 2019, ch 22, § 1; SL 2023, ch 16, § 3; SL 2025, ch 27, § 9.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 3-12C-109
What does South Dakota Codified Laws § 3-12C-109 cover?
Section 3-12C-109 ("Minimum actuarial requirement to support benefits defined.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. 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 Dakota § 3-12C-109?
A common citation format is "South Dakota Codified Laws § 3-12C-109" (South Dakota). 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 Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 3-12C-109 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota 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 Dakota.