South Dakota Codified Laws 58-26-68. Tables used for annuities and pure endowments purchased under groupcontracts prior to July 1, 1978–Interest
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The tables that shall be used for all annuities and pure endowments purchased prior to July 1, 1978, under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under the contracts are: the 1971 Group Annuity Mortality Table or any modification of this table approved by the director, and six percent interest.
Terms Used In South Dakota Codified Laws 58-26-68
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Source: SL 1995, ch 284, § 24.