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.
