S.C. Code Ann. § 9-1-1080
This is the official text of S.C. Code Ann. § 9-1-1080, part of South Carolina’s Code Ann — part of the compiled statutory law of South Carolina, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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SECTION 9-1-1080. Minimum contributions to employer annuity accumulation fund.
Official statutory text
The total amount payable in each year by each employer for credit to the employer annuity accumulation fund shall not be less than the sum of the rate percent known as the normal contribution rate and the accrued liability contribution rate of the total earnable compensation of all members during the preceding year. The aggregate payment by employers shall be sufficient, when combined with the amount in the fund, to provide the employer annuities and other benefits payable out of the fund during the year then current.
Status: in_force · Read it on the official government site
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