South Dakota § 3-12C-226 - System annual actuarial valuation--Scope--Actuarial value funded ratio defined.
Full text of South Dakota South Dakota Codified Laws § 3-12C-226 — System annual actuarial valuation--Scope--Actuarial value funded ratio defined., with citation guidance and answers to common questions.
§ 3-12C-226. System annual actuarial valuation--Scope--Actuarial value funded ratio defined.
To determine and verify the adequacy of any member and employer contributions to the system, an actuarial valuation of the system must be made annually by an approved actuary.
The actuarial valuation must provide:
(1) A demonstration of the relationship of any current member and employer contributions, expressed as a percentage of payroll, to the minimum actuarial requirement to support benefits; and
(2) The current year's actuarial value funded ratio and fair value funded ratio, as well as the ratios from the prior actuarial valuations.
For purposes of this section, "actuarial value funded ratio" means the actuarial value of assets divided by the actuarial accrued liability.
Source: SL 1974, ch 35, § 74; SL 1996, ch 27; SL 2004, ch 42, § 13; SL 2018, ch 33, § 12; SDCL § 3-12-120; SL 2019, ch 22, §§ 14, 45; SL 2025, ch 27, § 23.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 3-12C-226
What does South Dakota Codified Laws § 3-12C-226 cover?
Section 3-12C-226 ("System annual actuarial valuation--Scope--Actuarial value funded ratio 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-226?
A common citation format is "South Dakota Codified Laws § 3-12C-226" (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-226 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.