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Sioux Falls Overview
Code of Ordinances of Sioux Falls, SD
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§ 39.362 MANNER OF ACTION.
   Each member of the retirement board shall be entitled to one vote on each question coming before the board. At least three concurring votes shall be necessary for a decision by the board.
(1957 Rev. Ords., § 2.1105; 1992 Code, § 35-132)
§ 39.363 RECORD OF PROCEEDINGS.
   Records shall be kept of all proceedings before the retirement board.
(1957 Rev. Ords., § 2.1105; 1992 Code, § 35-133)
§ 39.364 ADMINISTRATIVE RECORDS.
   The administrative officer of the retirement board shall keep, or cause to be kept, the data as shall be necessary for an actuarial valuation of the assets and liabilities of the Firefighters' Pension Fund.
(1957 Rev. Ords., § 2.1107; 1992 Code, § 35-134) (Ord. 36-95, passed 3-6-1995; Ord. 118-16, passed 12-20-2016)
§ 39.365 ANNUAL REPORTS.
   (a)   The city human resources director or their designee shall present a report to the board of trustees at the time of the annual actuarial valuation report each year showing the fiscal transactions of the Firefighters' Pension Fund for the year ended the preceding December 31, and the last balance sheet showing the financial condition of the pension fund by means of an actuarial valuation of its assets and liabilities.
   (b)   The board of trustees shall publish an annual report containing financial statements and an actuarial valuation of the pension fund. The report shall be filed with the retirement laws committee created by SDCL 2-6-8 and shall be available to each member of the pension fund. The financial statements contained in the report shall be audited by an independent certified public accountant. The actuarial valuation required in the report shall include the information required under the provisions of SDCL 3-12-47(5) and shall be performed by an approved actuary as defined by SDCL 3-12-47(7).
(1957 Rev. Ords., § 2.1107; 1992 Code, § 35-135) (Ord. 108-85, passed 12-2-1985; Ord. 36-95, passed 3-6-1995; Ord. 118-16, passed 12-20-2016)
§ 39.366 MORTALITY AND OTHER TABLES.
   The retirement board shall adopt the mortality and other tables of experience, and regular interest, as are required in the operation of the Firefighters' Pension Fund on an actuarial basis.
(1957 Rev. Ords., § 2.1108; 1992 Code, § 35-136; Ord. 118-16, passed 12-20-2016)
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