County Employees Retirement Law of 1937 (CERL) - sdcera

§31472. “Regular interest’ defined
“Regular interest” means interest at 2 1/2 percent a year until otherwise determined by
the board compounded semiannually on June 30th and December 31st.
(Amended by Stats. 1949, Ch. 1228, Sec. 2)
§31472.1. “Regular interest” or “interest” defined; deposits as including redeposits
“Regular interest” or “interest” when used for purposes of computing deposits under
this chapter, except as otherwise specifically provided, shall mean that amount of interest
which would have been credited to the account of the member on the amount to be deposited
at the interest rates established for the system if the contributions required to be deposited
had been made in the amounts and at the time required if the member had been making such
deposits during the time service was rendered until the amount required to be deposited has
been paid. For purposes of this section “deposits” includes “redeposits”.
(Added by Stats. 1970, Ch. 369, Sec. 1)
§31473. “Retirement allowance” defined
“Retirement allowance” means the pension plus the annuity.
(Added by Stats. 1947, Ch. 424, Sec. 1)
§31474. “Retirement association” defined
“Retirement association” means an association of all persons who may qualify as
annuitants or beneficiaries pursuant to this chapter.
(Added by Stats. 1947, Ch. 424, Sec. 1)
§31475. “Retirement fund” defined
“Retirement fund” means the Employees Retirement Fund.
(Added by Stats. 1947, Ch. 424, Sec. 1)
§31476. “Retirement system” defined; system created by Stats. 1937, Ch. 677 as amended,
continued
“Retirement system” means each of the systems created and established pursuant to this
chapter or its predecessor.
The retirement system for county employees created by Chapter 677 of the Statutes of
1937, as amended, is continued in existence under this chapter.
(Added by Stats. 1947, Ch. 424, Sec. 1)
§31477. “Salary fund” defined
“Salary fund” means the fund from which salaries are ordinarily paid.
(Added by Stats. 1947, Ch. 424, Sec. 1)
§31478. “Public agency” defined
“Public agency” means the United States of America, this state, or any department
or agency of either, or any county, or any city, which city or county is within this state, or
any public corporation, municipal corporation, or public district, which public corporation,
municipal corporation, or public district is situated in whole or in part within the county, and
any local agency formation commission.
Section 31468 does not apply to this section.
(Amended by Stats. 1968, Ch. 1261, Sec. 3)
Article 1, §31472. - §31478. 26