47:10:01:01. Definitions. Terms used in this article are defined as follows:
(1) "Actuarial valuation," the calculation to determine the normal cost, the entry age normal level contribution requirements accumulated to date according to entry age normal cost method, and the present value of the benefits earned to date of a benefit plan, based upon stated assumptions as to rates of interest, mortality, disability, salary progressions, withdrawal, and retirement as established by a periodic actuarial survey which takes into account census data of all active members, vested terminated members, and retired members and their beneficiaries under the plan;
(2) "Approved actuary," an actuary who is a fellow of the Society of Actuaries or who has at least 15 years of service to public employees' funds; any firm retaining such an actuary on its staff;
(3) "Beneficiary," the person designated by a member of the retirement plan to receive payments after the death of a member;
(4) "Benefits," the amounts paid to a member or to the spouse and family or beneficiary;
(5) "Board," the South Dakota Department of Labor and Regulation employees' retirement board;
(6) "Department," the South Dakota Department of Labor and Regulation;
(7) "Fund," the South Dakota Department of Labor and Regulation employees' retirement fund or funds established for the purposes of administration of the retirement plan established in SDCL 61-2-15;
(8) "Member," a person who is participating in and who has made contributions to the retirement plan, but not a person who withdraws his contributions at termination of employment;
(9) "Retirement plan" or "plan," South Dakota Department of Labor and Regulation, job service, unemployment division, and office of administrative services retirement plans A and B, entered into by the department prior to September 25, 1989, with subsequent amendments.
Source: 16 SDR 54, effective September 25, 1989; 39 SDR 127, effective January 23, 2013.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
47:10:01:02. Exceptions. If a definition contained in this article conflicts with a definition in the retirement plan, the definition contained in the retirement plan controls.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
CHAPTER 47:10:02
GRIEVANCE PROCEDURE AND APPEALS
Section
47:10:02:01 Grievance procedure -- Informal consultation.
47:10:02:02 Request for formal hearing.
47:10:02:03 Time and place of hearing -- Notice.
47:10:02:04 Adjournment of hearing.
47:10:02:05 Burden of proof.
47:10:02:01. Grievance procedure -- Informal consultation. A member may request in writing that the board modify or change his benefits. The board may consult informally with the member in an attempt to resolve the request. The board may delegate the informal consultation and receive and act upon a report from the delegate.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
47:10:02:02. Request for formal hearing. If the request is not resolved or if a member is aggrieved by an action of the board taken without a hearing, the member may, within 30 days after the date of the board action, petition the board for a hearing. The hearing is a contested case pursuant to SDCL 1-26.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
47:10:02:03. Time and place of hearing -- Notice. The chairman of the board shall select a time and place for the hearing that is convenient for the board and the petitioning member. The hearing may be held telephonically at the chairman's discretion with the member's consent. The board must mail notice of hearing to the member and other interested parties at least seven days before the date of hearing.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
47:10:02:04. Adjournment of hearing. The board may adjourn a hearing to secure evidence necessary for a decision.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
47:10:02:05. Burden of proof. The member has the burden of proof.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
CHAPTER 47:10:03
ADMINISTRATION OF RETIREMENT PLAN
Section
47:10:03:01 Amendment and notice.
47:10:03:02 Business name of retirement plan.
47:10:03:03 Fund -- Disbursements for expenses.
47:10:03:04 Use of fund restricted.
47:10:03:05 Annual actuarial valuation of plan.
47:10:03:01. Amendment and notice. The board must notify the members of proposed modifications to the plan. The notice must be in writing and mailed at least 20 days before adoption of the proposal. The board may amend the plan as necessary.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.2, 61-2-15.4, 61-2-15.5.
47:10:03:02. Business name of retirement plan. The board must transact all business and hold all cash in the name of the South Dakota Department of Labor and Regulation employees' retirement plan.
Source: 16 SDR 54, effective September 25, 1989; 39 SDR 127, effective January 23, 2013.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.4.
47:10:03:03. Fund -- Disbursements for expenses. Expenditures from the fund must be disbursed on warrants supported by vouchers approved by the board.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
47:10:03:04. Use of fund restricted. No part of the fund created by SDCL 61-2-15 and this article may be used other than for the benefit of members and their beneficiaries pursuant to the retirement plan and for payment of the necessary expenses to administer the plan.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.5.
47:10:03:05. Annual actuarial valuation of plan. An actuarial valuation of the plan must be made by an approved actuary every plan year.
Source: 16 SDR 54, effective September 25, 1989.
General Authority: SDCL 61-2-15.5.
Law Implemented: SDCL 61-2-15, 61-2-15.4, 61-2-15.5.
CHAPTER 47:10:04
DECLARATORY RULINGS
(Repealed. SL 1993, ch 375, § 47, effective July 1, 1993)
