3-12C-305Newly established retirement plans of political subdivisions and public corporations to participate in consolidated system.

No political subdivision or public corporation, including municipalities, counties, and chartered governmental units, may establish any retirement plan unless such political subdivision or public corporation becomes a participating unit of the system created in this chapter.

Source: SL 1974, ch 35, § 24; SDCL § 3-12-66; SL 2019, ch 22, § 1.