South Dakota § 3-12C-407 - Accumulated contributions defined--Foundation members.
Full text of South Dakota South Dakota Codified Laws § 3-12C-407 — Accumulated contributions defined--Foundation members., with citation guidance and answers to common questions.
§ 3-12C-407. Accumulated contributions defined--Foundation members.
For any foundation member, "accumulated contributions" means the sum of:
(1) All contributions made by the member and any member contributions made by an employer after June 30, 1984, pursuant to § 3-12C-401;
(2) For a member whose contributory service concluded after June 30, 2010, eighty-five percent of the employer contributions or noncontributory service, if the member had three years or more of contributory service, and fifty percent of the employer contributions, if the member had less than three years of service; or for a member whose contributory service concluded before July 1, 2010, one hundred percent of the employer contributions or noncontributory service, if the member had three years or more of contributory service, and seventy-five percent of the employer contributions, if the member had less than three years of service;
(3) Member redeposits and member-credited service purchases pursuant to §§ 3-12C-504, 3-12C-509, and 3-12C-511; and
(4) The effective rate of interest earned on the sum of subdivisions (1), (2), and (3) of this section.
Source: SL 2016, ch 32, § 24; SDCL § 3-12-89.2; SL 2019, ch 22, §§ 19, 45; SL 2025, ch 27, § 32.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 3-12C-407
What does South Dakota Codified Laws § 3-12C-407 cover?
Section 3-12C-407 ("Accumulated contributions defined--Foundation members.") 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-407?
A common citation format is "South Dakota Codified Laws § 3-12C-407" (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-407 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.