<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-1608 - Board of Regents employees--Definition of balances.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083180Normal { 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.s2083180SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083180CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083180Statute { 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; 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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-1608 - Board of Regents employees--Definition of balances."><meta property="og:description" content="SDLRC Codified Law 3-12C-1608 - Board of Regents employees--Definition of balances."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1608"><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="s2083180Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1608" rel="noopener"><span class="s2083180SENU">3-12C-1608</span></a><span xml:space="preserve" class="s2083180SENU">. </span><span xml:space="preserve" class="s2083180CL">Board of Regents employees--Definition of balances. </span></p><p dir="ltr" class="s2083180Statute"><span xml:space="preserve" class="s2083180DefaultParagraphFont">Terms as used in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1608" rel="noopener"><span class="s2083180DefaultParagraphFont">3-12C-1608</span></a><span xml:space="preserve" class="s2083180DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1612" rel="noopener"><span class="s2083180DefaultParagraphFont">3-12C-1612</span></a><span class="s2083180DefaultParagraphFont">, inclusive, unless the context otherwise requires, shall mean:</span></p><p dir="ltr" class="s2083180StatuteNumber1"><span class="s2083180DefaultParagraphFont">(1)    "Board of Regents' balance," the contributions from April 1, 1964, to June 30, 1975, plus accumulated interest, made by the Board of Regents and deposited on behalf of an employee in any pension fund that is established by contract with an insurance company;</span></p><p dir="ltr" class="s2083180StatuteNumber1"><span xml:space="preserve" class="s2083180DefaultParagraphFont">(2)    "Excess balance," the contributions in addition to those accumulated in the individual balance and made from April 1, 1964, to June 30, 1975, with accumulated interest, by a Board of Regents employee included in the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1608" rel="noopener"><span class="s2083180DefaultParagraphFont">3-12C-1608</span></a><span xml:space="preserve" class="s2083180DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1612" rel="noopener"><span class="s2083180DefaultParagraphFont">3-12C-1612</span></a><span class="s2083180DefaultParagraphFont">, inclusive, and deposited in any pension fund that is established by contract with an insurance company;</span></p><p dir="ltr" class="s2083180StatuteNumber1"><span xml:space="preserve" class="s2083180DefaultParagraphFont">(3)    "Individual balance," the contributions from April 1, 1964, to June 30, 1975, with accumulated interest made on a matching basis by the Board of Regents' employees included in the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1608" rel="noopener"><span class="s2083180DefaultParagraphFont">3-12C-1608</span></a><span xml:space="preserve" class="s2083180DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1612" rel="noopener"><span class="s2083180DefaultParagraphFont">3-12C-1612</span></a><span class="s2083180DefaultParagraphFont">, inclusive, and the Board of Regents and deposited on behalf of the employee in any pension fund that is established by contract with an insurance company.</span></p><p dir="ltr" class="s2083180Normal"><span xml:space="preserve" class="s2083180000000"> </span></p><p dir="ltr" class="s2083180NoIndent"><span xml:space="preserve" class="s2083180DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083180SCL">SL 1975, ch 38, § 1; SL 1979, ch 29, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-69.1" rel="noopener"><span class="s2083180SCL">3-12-69.1</span></a><span class="s2083180SCL">; SL 2019, ch 22, § 1; SL 2021, ch 27, § 6.</span></p></div></body></html>