S.C. Code Ann. § 9-1-1090
This is the official text of S.C. Code Ann. § 9-1-1090, 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 9-1-1090. Discontinuance of accrued liability contribution.
Official statutory text
The accrued liability contribution shall be discontinued as soon as the accumulated reserve in the employer annuity accumulation fund shall equal the present value, as actuarially computed and approved by the Board, of the total liability of such fund less the present value, computed on the basis of the normal contribution rate then in force, of the prospective normal contributions to be received on account of all persons who are at the time members.
Status: in_force · Read it on the official government site
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