South Carolina Code 9-1-260. Annual valuation by actuary
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Terms Used In South Carolina Code 9-1-260
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the Board of Directors of the South Carolina Public Employee Benefit Authority which shall act under the provisions of this chapter through its Division of Retirement Systems. See South Carolina Code 9-1-10
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Regular interest: means interest compounded annually at a rate determined by the board in accordance with § 9-1-280. See South Carolina Code 9-1-10
- system: means the South Carolina Retirement System established under § 9-1-20. See South Carolina Code 9-1-10
On the basis of regular interest and tables last adopted by the Board the actuary shall make an annual valuation of the contingent assets and liabilities of the System.