<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 3-12C-510 - Acquisition of credited service through transfer of funds--Requirements. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033319Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033319SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033319CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033319Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033319DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033319000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033319SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033319SCL-000002 { 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></head><body><div><p dir="ltr" class="s2033319Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-510"><span class="s2033319SENU">3-12C-510</span></a><span xml:space="preserve" class="s2033319SENU">. </span><span class="s2033319CL">Acquisition of credited service through transfer of funds--Requirements.</span></p><p dir="ltr" class="s2033319Normal-000000"><span xml:space="preserve" class="s2033319DefaultParagraphFont">A contributing member may acquire credited service by utilizing a trustee to trustee transfer of funds, excluding any after tax employee contributions, from a member's individual retirement plan that meets the requirements of sections 403(b) or 457 of the Internal Revenue Code to pay the cost of purchase pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2033319DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="s2033319DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-509"><span class="s2033319DefaultParagraphFont">3-12C-509</span></a><span xml:space="preserve" class="s2033319DefaultParagraphFont">, or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-511"><span class="s2033319DefaultParagraphFont">3-12C-511</span></a><span class="s2033319DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033319Normal"><span xml:space="preserve" class="s2033319000001"> </span></p><p dir="ltr" class="s2033319Normal"><span class="s2033319SCL">Source:</span><span xml:space="preserve" class="s2033319SCL-000002"> SL 2002, ch 22, § 4; SL 2008, ch 20, § 12; SL 2013, ch 20, § 8; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-84.1"><span class="s2033319SCL-000002">3-12-84.1</span></a><span class="s2033319SCL-000002">; SL 2019, ch 22, §§ 18, 45.</span></p></div></body></html>