<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 9-16-5.1 - Contributions to system--Amount required. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2036408Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2036408SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2036408CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2036408Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2036408DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2036408Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2036408000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2036408SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2036408SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2036408Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-16-5.1"><span class="s2036408SENU">9-16-5.1</span></a><span xml:space="preserve" class="s2036408SENU">. </span><span class="s2036408CL">Contributions to system--Amount required.</span></p><p dir="ltr" class="s2036408Normal-000000"><span class="s2036408DefaultParagraphFont">Total contributions in each year to a retirement system subject to this chapter shall be sufficient to fund the following:</span></p><p dir="ltr" class="s2036408Normal-000001"><span class="s2036408DefaultParagraphFont">(1)    The administrative cost of the plan during the year;</span></p><p dir="ltr" class="s2036408Normal-000001"><span class="s2036408DefaultParagraphFont">(2)    The actuarially determined cost of future benefits accruing to members during the year; and</span></p><p dir="ltr" class="s2036408Normal-000001"><span class="s2036408DefaultParagraphFont">(3)    An amount sufficient to amortize any unfunded liability of the system over a period not to exceed forty years on the basis of reasonable and generally accepted actuarial assumptions.</span></p><p dir="ltr" class="s2036408Normal"><span xml:space="preserve" class="s2036408000002"> </span></p><p dir="ltr" class="s2036408Normal"><span class="s2036408SCL">Source:</span><span xml:space="preserve" class="s2036408SCL-000003"> SL 1984, ch 56, § 6.</span></p></div></body></html>