<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 3-12C-101 - Definitions.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s054a624c2b9f4c7bb7286f1eeb261c2bNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s054a624c2b9f4c7bb7286f1eeb261c2bSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s054a624c2b9f4c7bb7286f1eeb261c2bCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New 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p.s054a624c2b9f4c7bb7286f1eeb261c2bNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s054a624c2b9f4c7bb7286f1eeb261c2bSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 3-12C-101 - Definitions."><meta property="og:description" content="SDLRC Codified Law 3-12C-101 - Definitions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-101"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-101" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bSENU">3-12C-101</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bSENU">. </span><span class="s054a624c2b9f4c7bb7286f1eeb261c2bCL">Definitions.</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(1)    "Actuarial accrued liability," the present value of all benefits less the present value of future normal cost contributions;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(2)    "Actuarial experience analysis," a periodic report that reviews basic experience data and furnishes actuarial analysis that substantiates the assumptions adopted for the purpose of making an actuarial valuation of the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><a id="_pagenumber2" class="s054a624c2b9f4c7bb7286f1eeb261c2b000000" rel="noopener"></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(3)    "Actuarial valuation," a projection of the present value of all benefits and the current funded status of the system, based upon stated assumptions as to rates of interest, mortality, disability, salary progressions, withdrawal, and retirement as established by a periodic actuarial experience analysis that takes into account the census data of all active members, vested terminated members, retired members, and their beneficiaries under the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(4)    "Actuarial value of assets," equal to the fair value of assets;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(5)    "Actuarially determined contribution rate," the fixed, statutory contribution rate, no less than the normal cost rate with expenses assuming the minimum COLA, and no greater than the normal cost rate with expenses assuming the maximum COLA;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(6)    "Air rescue firefighter," an employee of the Department of the Military who is stationed at Joe Foss Field, Sioux Falls, and who is directly involved in firefighting activities on a daily basis;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(7)    "Approved actuary," any actuary who is a member of the American Academy of Actuaries or an associate or a fellow of the Society of Actuaries who meets the qualification standards of the American Academy of Actuaries to issue actuarial opinions regarding the system, or any firm retaining the actuary on the firm's staff, and who is appointed by the board to perform actuarial services;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(8)    "Assumed rate of return," the actuarial assumption adopted by the board pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-227" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-227</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">, as the annual assumed percentage return on trust fund assets, compounded;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(9)    "Beneficiary," the person designated by a member of the system to receive any payments after the death of the member;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(10)    "Benefits," the amounts paid to a member, spouse, child, or beneficiary as a result of the provisions of this chapter;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(11)    "Board," the Board of Trustees of the South Dakota Retirement System;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(12)    "Calendar quarter," a period of three calendar months ending March thirty-first, June thirtieth, September thirtieth, or December thirty-first of any year;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(13)    "Campus security officer," an employee of the Board of Regents whose position is subject to the minimal educational training standards established by the Law Enforcement Officers Standards Commission, pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=23-3" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">23-3</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">, who satisfactorily completes the training required by chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=23-3" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">23-3</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">, within one year of employment, and whose primary duty as a sworn law enforcement officer is to preserve the safety of </span><a id="_pagenumber3" class="s054a624c2b9f4c7bb7286f1eeb261c2b000000" rel="noopener"></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">the students, faculty, staff, visitors, and the property of the university. The employer shall file with the system evidence of the appointment as a sworn law enforcement officer at the time of employment and shall file evidence of satisfactory completion of the training program pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=23-3" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">23-3</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">, within one year of employment;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(14)    "Certified school employee," any employee of a participating unit who is required to have a certificate, as defined in § </span><a href="https://sdlegislature.gov/Statutes?Statute=13-42-1" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">13-42-1</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(15)    "Class A credited service," service credited as a Class A member of the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(16)    "Class A member," any member other than a Class B member or a Class C member and is either a foundation member or a generational member. A member is a Class A member until proof is supplied to the executive director that a member is a Class B member;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(17)    "Class B credited service," service credited as a Class B member of the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(18)    "Class B judicial member," any Class B member who is a justice, judge, or magistrate judge;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(19)    "Class B member," a member who is a justice, judge, state law enforcement officer, magistrate judge, police officer, firefighter, county sheriff, deputy county sheriff, correctional security staff, parole agent, air rescue firefighter, emergency medical services personnel, campus security officer, court services officer, juvenile corrections agent, gaming enforcement agent, conservation officer, or park ranger, and is either a foundation member or a generational member;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(20)    "Class B public safety member," any Class B member other than a justice, judge, or magistrate judge;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(21)    "Class C credited service," service credited as a Class C member of the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(22)    "Class C member," any member of the cement plant retirement plan including any retiree or any vested member;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(23)    "Class D credited service," service credited as a Class D member of the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(24)    "Class D member," any member who was a member of the Department of Labor and Regulation employees' retirement plan as of June 30, 2020;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(25)    "Classified employee," an employee:</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(a)    Of a public school district who is not required by law to be a certified school employee;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(b)    Of a college or university under the control of the Board of Regents who is not a faculty member or an administrator and comes within the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=3-6D" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-6D</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(c)    Of a public corporation;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(d)    Of a chartered governmental unit; or</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(e)    Who participates in the system and is not provided for elsewhere in this chapter;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(26)    "Comparable level position," a member's position of employment that is generally equivalent to the member's prior position of employment in terms of required education, required experience, required training, required work history, geographic location, and compensation and benefits;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(27)    "Conservation officer," an employee of the Department of Game, Fish and Parks and the Division of Wildlife or Division of Custer State Park who is employed </span><a id="_pagenumber4" class="s054a624c2b9f4c7bb7286f1eeb261c2b000000" rel="noopener"></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=41-2-11" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">41-2-11</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont"> and whose position is subject to the requirements as to education and training provided for in chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=23-3" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">23-3</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(28)    "Consumer price index," the consumer price index for urban wage earners and clerical workers calculated by the United States Bureau of Labor Statistics;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(29)    "Contributory service," service to a participating unit during which contributions were made to a South Dakota Retirement System, which may not include years of credited service as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-509" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-509</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-511" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-511</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(30)    "Correctional security staff," the warden, deputy warden, and any other correctional staff holding a security position, as verified by the Department of Corrections and approved by the Bureau of Human Resources and Administration and the Bureau of Finance and Management, and determined by the board as Class B members;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(31)    "Court services officer," an individual appointed pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=26-7A-8" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">26-7A-8</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(32)    "Covered employment," a member's employment as a full-time employee of a participating unit;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(33)    "Deputy county sheriff," an individual who is:</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(a)    An employee of a county that is a participating unit;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(b)    Appointed by the board of county commissioners, pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=7-12-9" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">7-12-9</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=7-12-10" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">7-12-10</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">; and</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(c)    Subject to the minimum educational and training standards established by the Law Enforcement Officers Standards Commission, pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=23-3" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">23-3</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">.</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatute"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">The term does not include jailers or clerks appointed pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=7-12-9" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">7-12-9</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=7-12-10" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">7-12-10</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">, unless the participating unit has requested that the jailer be considered as a deputy county sheriff and the board has approved the request;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(34)    "Disability advisory committee," a committee composed of:</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(a)    The secretary of the Department of Human Services or the secretary's designee;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(b)    An attorney appointed by the executive director; and</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(c)    A physician appointed by the executive director;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(35)    "Effective date of retirement," the first day of the month in which a retirement benefit is payable;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(36)    "Eligible retirement plan," a plan described in section 402(c)(8)(B) of the Internal Revenue Code;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(37)    "Eligible rollover distribution," any distribution to a member of accumulated contributions pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-602" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-602</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">. The term does not include any portion of a distribution that represents contributions made to the system on an after-tax basis nor distributions paid as a result of the member reaching the required beginning date;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(38)     Emergency medical services personnel, an individual who is licensed by the State Board of Medical and Osteopathic Examiners in accordance with chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=36-4B" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">36-4B</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont"> and actively practices emergency medical services;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(39)    "Employer," this state and any department, bureau, board, or commission of this state, any political subdivision of this state, or any public corporation of this state that elects to become a participating unit;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><a id="_pagenumber5" class="s054a624c2b9f4c7bb7286f1eeb261c2b000000" rel="noopener"></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(40)    "Employer contribution," an amount contributed by the employer of a contributing member, excluding any member contribution made by an employer after June 30, 1984, pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-401" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-401</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(41)    "Equivalent public service," any public service other than as a justice, a judge, or a magistrate judge and comparable to Class B service, as defined by this section, if the service is in the employ of a public entity that is not a participating unit;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(42)    "Executive director," the executive director of the South Dakota Retirement System;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(43)    "Fair value of assets," the total assets of the system at fair market value for securities traded on exchanges; for securities not traded on exchanges, a value based on similar securities; and for alternative investments, reported net asset value;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(44)    "Fair value funded ratio," the fair value of assets divided by the actuarial accrued liability;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(45)    "Fiduciary," any person who:</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(a)    Exercises any discretionary authority or control over the management of the system or the management or disposition of the system's assets;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(b)    Renders investment advice for a fee or other compensation, direct or indirect, or has any authority or responsibility to do so; or</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(c)    Has any discretionary authority or responsibility in the administration of the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(46)    "Foundation member," any member of the system whose contributory service began before July 1, 2017;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(47)    "Firefighter," any full-time firefighter who works at least twenty hours a week and at least six months a year. The term does not include any volunteer firefighter;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(48)    "Full-time employee," any employee who is considered full-time by the participating unit and is customarily employed by the participating unit for twenty hours or more a week and at least six months a year, regardless of classification of employment as seasonal, temporary, leased, contract, or any other designation;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(49)    "Fund," public employees' retirement fund or funds established for the administration of this chapter;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(50)    "Gaming enforcement agent," any employee of the South Dakota Commission on Gaming who is appointed pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=42-7B-56" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">42-7B-56</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont"> and who must, as a condition of employment, be law enforcement certified;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(51)    "Generational member," any member of the system whose contributory service began after June 30, 2017;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(52)    "Health care provider," a physician or other health care practitioner licensed, registered, certified, or otherwise authorized by law to provide specified health services;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><a id="_pagenumber6" class="s054a624c2b9f4c7bb7286f1eeb261c2b000000" rel="noopener"></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(53)    "Juvenile corrections agent," a designee of the secretary of corrections charged with the care, custody, and control of juveniles committed to the Department of Corrections until the age of twenty-one, or a person who is charged with the care, custody, and control of juveniles at a juvenile corrections facility under the control of a participating unit;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(54)    "Law enforcement officer," any agent of the Division of Criminal Investigation, officer of the South Dakota Highway Patrol, police officer, county sheriff, or deputy county sheriff;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(55)    "Member," any individual who is contributing or has made contributions to the system and is either a foundation member or generational member. An individual's membership ceases when the individual withdraws the individual's accumulated contributions after termination of employment;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(56)    "Member contribution," any amount contributed by a member, including any member contribution made by an employer after June 30, 1984, pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-401" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-401</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(57)    "Military service," a period of active duty with the United States Army, the United States Navy, the United States Air Force, the United States Marine Corps, or the United States Coast Guard, from which duty the member received an honorable discharge or an honorable release;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(58)    "Municipality," any incorporated municipal government under chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=9-3" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">9-3</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">, or any chartered governmental unit, as provided for in S.D. Const., Art. IX;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(59)    "Noncontributory service," for any foundation member, service delineated in subdivisions </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-502" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-502</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(2), (5), (7), and (8), and for any generational member, service pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-514" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-514</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(60)    "Normal cost," the expected long-term cost of the system benefits and expenses expressed as a percentage of payroll;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(61)    "Normal retirement," the termination of employment and application for benefits by a member with three or more years of contributory service or noncontributory service on or after the member's normal retirement age;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(62)    "Other public benefits," eighty percent of the primary insurance amount or primary social security benefits that would be provided under federal social security;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><a id="_pagenumber7" class="s054a624c2b9f4c7bb7286f1eeb261c2b000000" rel="noopener"></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(63)    "Other public service," service:</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(a)    For the government of the United States, including military service;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(b)    For the government of any state or political subdivision thereof;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(c)    For any agency or instrumentality of the government of the United States or the government of a state or political subdivision; or</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(d)    As an employee of an association of government entities described in this subdivision;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(64)    "Park ranger," an employee of the Department of Game, Fish and Parks within the Division of Parks and Recreation and whose position is subject to the requirements as to education and training provided for in chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=23-3" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">23-3</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">, and whose primary duty is law enforcement in the state park system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(65)    "Parole agent," an employee of the Department of Corrections employed pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=24-15-14" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">24-15-14</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">, who directly supervises parolees on a daily basis;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(66)    "Participating unit," this state, any department, bureau, board, or commission of this state, and any political subdivision or public corporation of this state that has employees who are members of the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(67)    "Plan year," a period extending from July first of one calendar year through June thirtieth of the following calendar year;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(68)    "Police officer," any employee in the police department of any participating municipality, holding the rank of patrol officer or probationary patrol officer, or holding a higher rank, and whose position is subject to the minimum educational and training standards established by the Law Enforcement Officers Standards Commission pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=23-3" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">23-3</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">. The term does not include a civilian employee of a police department nor any individual employed by a municipality whose services as a police officer require less than twenty hours a week and six months a year. If a municipality that is a participating unit operates a city jail, the participating unit may request that any jailer appointed pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=9-29-25" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">9-29-25</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont"> be considered a police officer, subject to the approval of the board;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><a id="_pagenumber8" class="s054a624c2b9f4c7bb7286f1eeb261c2b000000" rel="noopener"></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(69)    "Political subdivision," any municipality, school district, county, chartered governmental unit, public corporation or entity, and special district created for any governmental function;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(70)    "Present value of all benefits," the present value of all benefits expected to be paid to all retired, terminated, and active members and beneficiaries, based on past and future credited service and future compensation increases;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(71)    "Projected compensation," a deceased or disabled member's final average compensation multiplied by the COLA commencing each July first for each complete twelve-month period elapsed between the date of the member's death or disability, whichever occurred earlier, and the date the member would attain normal retirement age or the benefit commences, whichever occurred earlier;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(72)    "Projected service," the credited service plus the service that the member would have been credited with at normal retirement age had the member continued in the system and received credit at the same rate the member was credited during the year covered by the compensation that was used in the calculation of the disability or family benefit;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(73)    "Qualified military service," service in the uniformed services, as defined in § 414(u)(5) of the Internal Revenue Code;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(74)    "Retiree," any foundation or generational member who retires with a lifetime benefit payable from the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(75)    "Retirement," the severance of a member from the employ of a participating unit with a retirement benefit payable from the system;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(76)    "Retirement benefit," the monthly amount payable upon the retirement of a member;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(77)    "Single premium," the lump-sum amount paid by a supplemental pension participant pursuant to a supplemental pension contract in consideration for a supplemental pension benefit;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><a id="_pagenumber9" class="s054a624c2b9f4c7bb7286f1eeb261c2b000000" rel="noopener"></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(78)    "Social investment," investment, divestment, or prohibition of investment of the assets of the system for purposes other than maximum risk-adjusted investment return, which other purposes include ideological purposes, environmental purposes, political purposes, religious purposes, or purposes of local or regional economic development;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(79)    "State employee," an employee of any board, bureau, commission, or department of this state;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(80)    "Supplemental pension benefit," any single-premium immediate pension benefit payable pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1504" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-1504</span></a><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1505" rel="noopener"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">3-12C-1505</span></a><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(81)    "Supplemental pension contract," any agreement between a participant and the system upon which a supplemental pension is based, including the amount of the single premium, the type of pension benefit, and the monthly supplemental pension payment amount;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(82)    "Supplemental pension contract record," the record of:</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(a)    Each supplemental pension participant reflecting relevant participant data;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(b)    A designation of any beneficiary, if any;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(c)    The amount of the participant's funds rolled into the fund;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(d)    The provisions of the participant's supplemental pension contract; and</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber2"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(e)    Any supplemental pension payments made pursuant to the contract;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(83)    "Supplemental pension participant," any member who is a retiree receiving a benefit from the system, or, if the member is deceased, the member's surviving spouse who is receiving a benefit from the system, and who chooses to purchase a supplemental pension benefit pursuant to the provisions of this chapter. For purposes of this chapter, "participant" means the same meaning as "supplemental pension participant";</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(84)    "Supplemental pension spouse," any individual who was married to a supplemental pension participant at the time the participant entered into the supplemental pension contract;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(85)    "System," the South Dakota Retirement System created in this chapter;</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(86)    "Trustee," a member of the Board of Trustees; and</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bStatuteNumber1"><span class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont">(87)    "Unfunded actuarial accrued liability," the actuarial accrued liability less the actuarial value of assets.</span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bNormal"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2b000001"> </span></p><p dir="ltr" class="s054a624c2b9f4c7bb7286f1eeb261c2bNoIndent"><span xml:space="preserve" class="s054a624c2b9f4c7bb7286f1eeb261c2bDefaultParagraphFont-000002">Source: </span><span class="s054a624c2b9f4c7bb7286f1eeb261c2bSCL">SL 1967, ch 303, § 2; SDCL § 3-12-2; SL 1968, ch 216, § 1; SL 1970, ch 25, § 1; SL 1973, ch 24, §§ 1, 2; SL 1974, ch 35, § 2; SL 1975, ch 38, § 6; SL 1975, ch 39, §§ 2, 3; SL 1976, ch 40, § 1; SL 1977, ch 28, §§ 1 to 3; SL 1977, ch 29; SL 1977, ch 31, §§ 1 to 3; SL 1978, ch 31; SL 1978, ch 32, § 5; SL 1979, ch 26, § 1; SL 1980, ch 31, § 1; SL 1982, ch 32, § 1; SL 1982, ch 33; SL 1982, ch 34, § 1; SL 1982, ch 35; SL 1983, ch 17; SL 1983, ch 18; SL 1983, ch 19, §§ 1, 2; SL 1983, ch 22, § 2; SL 1984, ch 23, § 1; SL 1985, ch 24, §§ 1, 2; SL 1986, ch 37, §§ 1-3, 11; SL 1987, ch 35; SL 1987, ch 36, §§ 1, 2; SL 1988, ch 30, §§ 1 to 3; SL 1988, ch 31; SL 1989, ch 21, § 40; SL 1989, ch 38, §§ 5, 9; SL 1989, ch 238, § 3; SL 1990, ch 36; SL 1991, ch 29, §§ 1, 2; SL 1991, ch 30; SL 1992, ch 30, § 1; SL 1992, ch 34, §§ 1, 2; SL 1993, ch 38, §§ 1, 2; SL 1993, ch 39, § 1; SL 1993, ch 40; SL 1993, ch 41; SL 1993, ch 42, §§ 1-3; SL 1993, ch 44, §§ 2, 3; SL 1994, ch 32, §§ 1, 2; SL 1994, ch 34, §§ 1, 2; SL 1995, ch 18, §§ 1, 2, 4; SL 1995, ch 23, § 1; SL 1995, ch 24, §§ 1, 11, 15; SL 1996, ch 29, § 1; SL 1996, ch 30, §§ 1, 5; SL 1997, ch 25, § 1; SL 1997, ch 26, § 1; SL 1997, ch 27, § 1; SL 1998, ch 15, §§ 1, 2, 3, 4, 5; SL 1998, ch 16, § 1; SL 1998, ch 17, § 1; SL 1998, ch 17, § 2; SL 1998, ch 18, § 1; SL 1998, ch 19, § 1; SL 1998, ch 110, § 2; SL 1999, ch 14, §§ 1, 2; SL 1999, ch 15, § 1; SL 2000, ch 24, §§ 1, 2; SL 2002, ch 22, §§ 1, 2; SL 2004, ch 35, § 1; SL 2004, ch 36, §§ 1, 2; SL 2004, ch 37, §§ 1, 2; SL 2004, ch 38, § 7; SL 2004, ch 40, §§ 5 to 7; SL 2004, ch 42, §§ 3 to 11; SL 2005, ch 24, §§ 1, 2; SL 2006, ch 17, § 1; SL 2008, ch 20, §§ 1 to 6; SL 2008, ch 21, § 1; SL 2008, ch 24, § 2; SL 2009, ch 138, § 3; SL 2010, ch 20, §§ 1 to 6; SL 2010, ch 21, § 2; SL 2010, ch 23, §§ 3, 4, eff. Apr. 1, 2010; SL 2010, ch 77, § 2; SL 2011, ch 1 (Ex. Ord. 11-1), § 18, eff. Apr. 12, 2011; SL 2011, ch 20, § 1; SL 2012, ch 26, §§ 1 to 6; SL 2013, ch 20, §§ 2 to 5; SL 2014, ch 18, § 1; SL 2014, ch 20, §§ 19 to 22; SL 2014, ch 21, §§ 8, 9 eff. Apr. 1, 2014; SL 2015, ch 25, §§ 1 to 3; SL 2016, ch 32, § 56; SL 2017, ch 27, § 4; SL 2017, ch 28, § 6; SL 2018, ch 32, §§ 1 to 4; SL 2018, ch 33, §§ 1 to 6; SDCL § 3-12-47; SL 2019, ch 22, §§ 2, 45; SL 2019, ch 23, § 1; SL 2019, ch 24, § 1; SL 2020, ch 12, § 1; SL 2020, ch 13, § 3; SL 2021, ch 29, § 8, eff. Apr. 1, 2021; SL 2022, ch 14, § 1; SL 2022, ch 15, § 1; SL 2023, ch 14, § 1; SL 2023, ch 15, § 1; SL 2023, ch 16, § 1; SL 2024, ch 1 (Ex. Ord. 24-1), § 35, eff. Apr. 8, 2024; SL 2025, ch 27, § 1.</span></p></div></body></html>