62:04:03:01.  Direct rollovers. Pursuant to SDCL 3-13A-20, a participant or a participant's surviving spouse may elect, at the time and in the manner prescribed by the third-party administrator, to have any portion of an eligible rollover distribution paid in a direct rollover to an eligible retirement plan specified by the participant or the surviving spouse if the plan is an eligible plan under § 401, 403(b), 408, 408A, or 457 of the code. A participant's beneficiary who is not the participant's surviving spouse may elect, at the time and in the manner prescribed by the third-party administrator, to have any portion of an eligible rollover distribution paid in a direct rollover to a plan specified by the beneficiary if the plan is an eligible plan under § 408 or 408A of the code.

          Source: 31 SDR 191, effective May 22, 2005; 33 SDR 212, effective June 4, 2007; 35 SDR 82, effective October 22, 2008.

          General Authority: SDCL 3-13A-4.

          Law Implemented: SDCL 3-13A-20.