<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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s4dbab1564fcc4e9fa390c725d1b16868Normal { text-align: center; 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.s4dbab1564fcc4e9fa390c725d1b16868HG4 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s4dbab1564fcc4e9fa390c725d1b16868HG4C { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4dbab1564fcc4e9fa390c725d1b16868Normal-000000 { 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.s4dbab1564fcc4e9fa390c725d1b16868000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4dbab1564fcc4e9fa390c725d1b16868B { margin-left: 1.38in; text-indent: -1.38in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; letter-spacing: 0; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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 - SOUTH DAKOTA RETIREMENT SYSTEM"><meta property="og:description" content="SDLRC Codified Law 3-12C - SOUTH DAKOTA RETIREMENT SYSTEM"><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C"><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="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868HG4">CHAPTER </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C</span></a></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4C">SOUTH DAKOTA RETIREMENT SYSTEM</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 1. DEFINITIONS</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-101" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-101</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Definitions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-102" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-102</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Actuarial equivalent defined--Calculation--Assumptions public record.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-103" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-103</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Child defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-104" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-104</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    COLA or cost of living adjustment defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-105" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-105</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Compensation defined--Exclusions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-106" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-106</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contributing member defined--Report.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-106.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-106.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Establishing active membership--Termination--Quarterly contribution credited--Exception.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-107" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-107</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Disability defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-108" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-108</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Effective rate of interest defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-109" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-109</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Minimum actuarial requirement to support benefits defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-110" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-110</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Spouse defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-111" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-111</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Terminated defined--Exceptions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-112" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-112</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Vested defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-113" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-113</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Internal Revenue Code references.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-114" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-114</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Member information defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 2. ADMINISTRATION</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-201" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-201</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Citation of chapter.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-202" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-202</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    System managed by board--Standard of conduct--Legal advice.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-203" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-203</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Trustees--Board created--Composition.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-204" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-204</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Election of trustees--Terms of office.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-205" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-205</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Resignation of trustee due to loss of qualifying status--Filling of vacancy.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-205.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-205.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Trustees--Filling a vacancy--Represented group defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-206" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-206</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Trustees--Oath of office.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-207" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-207</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Trustees--Compensation and expense reimbursement.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-208" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-208</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Meetings of board--Chair and vice chair--Votes required for decision.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-209" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-209</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    </span><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont-000002">Executive director--Appointment--Compensation--Retirement Laws Committee approval--Employment of personnel--Bond--Board secretary</span><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-210" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-210</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Expense fund continued--Transfer from retirement system fund--Report of budget--Appropriation and disbursement for expenses.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-211" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-211</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Rules for administration.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-212" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-212</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Membership, refund, or benefit applications.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-213" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-213</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Grievance procedure--Hearing request--Deadline--Contested case.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-214" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-214</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Correction of records--Adjustment for underpayment or overpayment--Promulgation of rules--Limitation--Member access to own records.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-214.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-214.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    </span><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont-000002">Member repayment of overpayments--Options--Interest--Delayed repayment--Failure to select an option--Required notice and presumption.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-214.2" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-214.2</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Repayment of overpayments by person other than member--Options--Interest--Delayed repayment--Failure to select an option--Required notice and presumption.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-215" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-215</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Member information confidential--Permitted disclosure.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-216" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-216</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Exemption of contributions and benefits from taxation and process.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-217" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-217</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Domestic relations orders--Determination as to whether qualified--Restrictions on provisions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-217.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-217.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Domestic relations order--Beneficiary designated.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-217.2" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-217.2</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Domestic relations orders--Prospective provisions--Errors.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-217.3" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-217.3</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Domestic relations order--Independent surviving spouse benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-218" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-218</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Business name of system--Treasurer.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-219" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-219</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Use of fund restricted.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-220" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-220</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Diversion of funds prohibited--Legislative policy.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-221" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-221</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Rights of members on termination of system or discontinuance of contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-222" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-222</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Application of forfeitures.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-223" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-223</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Investment of assets by investment council--Pooling of funds--Standards for investment--Compliance with federal divestiture enactments.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-224" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-224</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Quadrennial independent report on investment performance.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-225" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-225</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Review of investment policy when return lower than average--Report to Governor and Legislature.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-226" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-226</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    System annual actuarial valuation--Scope--Actuarial value funded ratio defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-227" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-227</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    System annual actuarial valuation--Basis--Report of change.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-228" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-228</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Funding of system--Review--Report--Corrective action.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-229" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-229</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Annual report of funded status of system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-230" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-230</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Record of board proceedings--Annual report.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 3. MEMBERSHIP</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-301" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-301</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Members of system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-302" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-302</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Membership in system--Exclusions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-303" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-303</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Newly elected officials permitted to join system--Requirements--Credited service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-304" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-304</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Continuation of previously established retirement plan--Vote of employees required to participate in consolidated system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-305" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-305</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Newly established retirement plans of political subdivisions and public corporations to participate in consolidated system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-306" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-306</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Election by political subdivision or public corporation to participate in consolidated system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-307" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-307</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Coverage of joint employees of participating and nonparticipating political subdivisions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-308" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-308</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Political subdivision or public corporation joining system--Accrued benefit deposit required--Participation by employees--Deferred payment of deposit--Present value of benefits earned to date defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-309" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-309</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Effective date of participation of employees of participating unit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-310" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-310</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Privatization of governmental function.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-311" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-311</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Privatization of governmental function--Member s acquisition of service credit--Retirement while continuing private employment.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-312" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-312</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Participating unit liaison.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 4. CONTRIBUTIONS</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-401" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-401</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Rate of contributions--Deduction from pay--Employer to make members' contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-402" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-402</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Additional contribution for foundation members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-403" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-403</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Monthly transmission of contributions--Deposit in fund--Late penalty.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-403.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-403.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Monthly transmission of contributions--Reports--Date--Transmittal.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-404" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-404</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Deduction of delinquent contributions from payments due from state--Penalty and interest.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-405" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-405</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Service records and employee information furnished by employers.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-406" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-406</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Knowing transmission of report with excluded compensation as misdemeanor.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-407" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-407</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Accumulated contributions defined--Foundation members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-408" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-408</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Accumulated contributions defined for generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-409" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-409</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Refund of unpaid accumulated contributions upon termination--Reversion of unclaimed payments to system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-410" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-410</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Lump-sum payments where designated beneficiary does not survive member--Reversion to system of unclaimed payments.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 5. SERVICE CREDIT</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-501" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-501</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Uniform application of service credit rules.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-502" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-502</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Credited service defined--Foundation members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-503" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-503</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Credited service defined--Generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-504" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Purchase of prior service credit--Calculation of amount due.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-505" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-505</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Prospective increase for credited service related to years of noncontributory service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-506" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-506</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Refund for purchase cost of noncontributing service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-507" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-507</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Repealed.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-508" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-508</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Repealed.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-509" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-509</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Purchase of prior service credit for public service not covered by retirement plan.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-510" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-510</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Acquisition of credited service through transfer of funds--Requirements.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-511" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-511</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Purchase of nonqualified permissive service credit allowed.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-512" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-512</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Acquisition of credited service for members mobilized into certain federal military service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-513" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-513</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Service credit for leave of absence--Contributions to cover period of absence.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-514" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-514</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Service credit for leave of absence--Qualified military service--Return to employment after discharge.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-515" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-515</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Death or disability of member on leave of absence due to qualified military service--Return to service date and benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-516" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-516</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Members receiving differential wage payments.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-517" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-517</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Valuation of purchased prior service credit--Installment payments--Death of member--Adjustment when installments not paid.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-518" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-518</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Class B public safety member--Conversion of credited service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-519" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-519</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Class B public safety member--Purchase of equivalent public service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-520" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-520</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Prior service credit on return of nonvested member to employment.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 6. TERMINATION AND REEMPLOYMENT BEFORE RETIREMENT</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-601" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-601</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Retirement benefit to terminated member with vested right--Calculation.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-602" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-602</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Withdrawal of accumulated contributions on leaving covered employment--Spouse signature required--Effect--Limitation.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-603" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-603</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Distribution by direct rollover--Promulgation of rules.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-604" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-604</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contributions left in system on termination of employment without vested right--Maximum period--Forfeiture.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-605" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-605</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Uncollected payments from system--Reversion.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-606" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-606</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reinstatement of terminated rights.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-607" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-607</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Early withdrawal precludes additional refund.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-608" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-608</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Eligibility for benefits upon becoming full-time employee within twelve months after withdrawal.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 7. BENEFITS GENERALLY</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-701" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-701</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Benefits only payable monthly--Lump-sum payments prohibited unless specified.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-702" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-702</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Individual s birthday for purposes of eligibility.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-703" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    COLA applied to benefits--COLA elimination.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-704" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-704</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Determination of COLA payable.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-705" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-705</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Date of application of prorated payment of COLA.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-706" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-706</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Modified monthly benefit permitted.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-707" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-707</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Highest annual compensation.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-708" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-708</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Time of termination of benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-709" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-709</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Duplicate benefits prohibited unless from another member's contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-710" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-710</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Member who leaves employment--Spouse and minor children.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-711" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-711</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Maximum annual benefit--Promulgation of rules--Tax qualification--Limitation year defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-711.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-711.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Maximum annual benefit--Applicability of limits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-712" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-712</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Compensation limits in Internal Revenue Code § 401(a)(17).</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-713" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-713</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contribution credit defined--Payment of contribution credit and credited investment return.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 8. DISABILITY BENEFITS</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-801" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-801</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Criteria for determining disability--Uniform application.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-802" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-802</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Disability documentation inadmissible for proceedings relative to workers' compensation.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-803" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-803</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Disability benefits eligibility--Applications before July 1, 2015--Required information--Filing deadline.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-804" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-804</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Employer certification--Unable to accommodate.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-805" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-805</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Amount of monthly disability benefit--Applications before July 1, 2015.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-806" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-806</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Elimination or addition of disability benefit pertaining to children--Applications before July 1, 2015.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-807" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-807</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Deduction of other public benefits from disability benefit--Reduction when children become ineligible--Applications before July 1, 2015.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-808" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-808</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Conversion of disability benefit to retirement benefit--Credited service--Applications before July 1, 2015.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-809" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-809</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Termination of disability benefit--Conversion to retirement benefit--Applications before July 1, 2015.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-810" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-810</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Maximum amount of disability benefit--Reporting earned income--Applications before July 1, 2015.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-811" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-811</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Disability benefits for applications received after June 30, 2015.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-812" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-812</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Disability benefits eligibility.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-813" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-813</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Application for disability benefits--Required information--Filing deadline.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-814" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-814</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Employer information--Employment history and accommodations.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-815" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-815</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Health care provider information--Disability--Other medical documentation.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-816" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-816</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Benefit determination by executive director--Advice of disability advisory committee--Independent examination or assessment--Order.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-817" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-817</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Commencement of benefits--Application expiration.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-818" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-818</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Calculation of disability benefits--Foundation members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-819" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-819</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Disability benefits for generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-820" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-820</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    No credited service for disability benefit period.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-821" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-821</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contributions for period of employment while receiving disability benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-822" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-822</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Termination of disability benefits--Health care provider certification--Determination by executive director--Effective date.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-823" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-823</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contributions upon return to covered employment.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-824" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-824</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Retirement benefit of member who received disability benefits and returned to covered employment.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-825" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-825</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Retirement benefit of member whose disability benefits were terminated but who did not return to covered employment.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-826" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-826</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Family benefit--Member dies before normal retirement age while receiving disability benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-827" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-827</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Surviving spouse benefit where member received disability benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-828" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-828</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Surviving spouse benefit where member dies after normal retirement age while receiving disability benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 9. BENEFITS PAYABLE AFTER THE DEATH OF A CONTRIBUTING MEMBER</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-901" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-901</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Family and surviving spouse benefits--Death of contributing member before retirement or death of member receiving disability--Application before July 1, 2015--Benefit amount--Effective date--Care of children defined.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-902" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-902</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Payment or delivery to minors.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-903" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-903</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Benefits payable directly to child at age eighteen--Elimination upon ineligibility.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-904" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-904</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Elimination of family benefit as children become ineligible.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-905" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-905</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Deductions of member's primary social security from benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-906" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-906</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Family benefits in lieu of other death benefits--Election by designated beneficiary to withdraw accumulated contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-907" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-907</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Family benefit--Deceased member who was working--Total benefit--Effective date.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 10. ADDITIONAL SURVIVOR PROTECTION</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1001" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1001</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Election of additional survivor protection--Commencement and termination--Additional terms.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1002" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1002</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Extension of survivor protection option to current contributing members--Limitation on future extensions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1003" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1003</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    New enrollments in additional survivor protection prohibited.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1004" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1004</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Amount of additional survivor protection benefits--Termination.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 11. FOUNDATION MEMBER BENEFITS</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1101" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1101</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Final average compensation for foundation members whose contributory service concluded before July 1, 2021.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1102" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1102</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Limitations on final average compensation for foundation members whose contributory service concluded before July 1, 2020.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1103" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1103</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Final average compensation for foundation members whose contributory service concludes after June 30, 2021.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1104" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1104</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Limitations on final average compensation for foundation members whose contributory service concludes after June 30, 2020.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1105" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1105</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement age for foundation members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1106" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement benefit for foundation members for Class A credited service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1107" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1107</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement benefit for foundation members for Class B credited service other than justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1108" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1108</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement benefit for foundation members for Class B credited service as justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1109" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1109</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Adjustments in benefit for certain retirees based on time and circumstances of retirement.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1110" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1110</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reduction age defined for foundation members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1111" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1111</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Early retirement benefits for foundation members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1112" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1112</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Adjustment of early retirement benefits for foundation members who retire before eligible for social security.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1112.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1112.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Adjustment of early retirement benefits--Rescind election of annuity payment option--Overpayments.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1113" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1113</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Effective date of retirement benefit of foundation member--Last payment--Retroactive retirement benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1114" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1114</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Surviving spouse benefit--Retired foundation member--Effective dates.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1115" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1115</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Surviving spouse benefit--Foundation member--Calculation of benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1116" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1116</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Early surviving spouse benefit for foundation member's spouse.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 12. GENERATIONAL MEMBER BENEFITS</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1201" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1201</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Final average compensation defined for generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1202" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1202</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Limitations on final average compensation for generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1203" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1203</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement age for generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1204" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1204</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement benefit for generational members for Class A credited service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1205" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1205</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement benefit for generational members for Class B credited service other than justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1206" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1206</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement benefit for generational members for Class B credited service as justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1207" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1207</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Early retirement benefits for generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1208" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1208</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Application for retirement benefit--Spouse signature required--Exceptions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1209" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1209</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Monthly benefit options for generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1210" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1210</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Irrevocable benefit election by generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1211" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1211</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Effective date of retirement benefit of generational member--Last payment.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1212" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1212</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Retroactive retirement benefits for generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1213" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1213</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Surviving spouse benefit--Retired generational member--Amount of benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1214" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1214</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Surviving spouse benefit--Generational member dying after normal retirement age but before start of benefit--Amount of benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1215" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1215</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Amount of surviving spouse benefit for generational member.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1216" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1216</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Early surviving spouse benefit for generational member's spouse.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 13. VARIABLE RETIREMENT ACCOUNTS</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1301" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1301</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Variable retirement accounts of generational members--Contributions and credited investment return.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1302" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1302</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Variable retirement contributions of generational members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1303" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1303</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Distributions from generational member's variable retirement account.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 14. REEMPLOYMENT AFTER RETIREMENT</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1400" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1400</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Three consecutive calendar months of separation described.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1401" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1401</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reemployment of retired member--Separation of service required--Hiring procedures.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1401.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1401.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reemployment of retired member--Limited exception to separation of service requirement.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1401.2" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1401.2</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Certification when retired member becomes reemployed--Perjury.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1402" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1402</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reduction of retirement benefit during reemployment before July 1, 2004--Recalculation of additional benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1403" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1403</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Retirement benefits--Members who reentered covered employment after June 30, 2004 and before April 1, 2010.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1404" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1404</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reduction of retirement benefit during reemployment for members who reentered employment between July 1, 2004 and April 1, 2010--Benefit upon subsequent retirement.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1405" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1405</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Retired members--Reentrance to covered employment--Benefits and membership.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1405.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1405.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reemployment of retired member--Limited exception to benefit and membership provisions for part-time employment.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1405.2" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1405.2</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reemployment of retired member--Employer tracking.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1406" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1406</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Invalid retirement--Repayment of retirement benefit payments.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 15. SUPPLEMENTAL PENSION BENEFIT</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1501" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1501</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Supplemental pension benefit created.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1502" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1502</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Interest rate assumption--Suspension of new supplemental pension contracts--No right to particular price.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1502.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1502.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Basis for supplemental pension benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1503" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1503</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Rollover of funds--Single premium--Contract effective upon signing--Payment of benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1504" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1504</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Types of supplemental pension benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1504.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1504.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Payment of supplemental pension benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1504.2" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1504.2</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Proof of marital status.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1505" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1505</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    COLA applicable to supplemental pension benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1505.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1505.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Increase in supplemental pension spouse s benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1505.2" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1505.2</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    No value increase for single premium.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1506" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1506</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Death of participant or spouse--Lump sum distribution to beneficiaries--Time for making claim.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1507" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1507</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contract purchases and benefit payments deemed qualified plan distributed annuity contracts.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1507.1" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1507.1</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Distributions deemed reasonable and made in good faith under federal law.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1508" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1508</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Minimum distribution rules--Annual benefit limitations.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1509" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1509</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Applicability of certain retirement system provisions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1510" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1510</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Exemption from Title 58 and from securities and agent registration.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1511" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1511</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Participant s status as retiree.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 16. MEMBERSHIP BY CONSOLIDATION AND ELECTION</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1601" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1601</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Previous retirement systems consolidated--Purpose.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1602" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1602</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Intent to provide increased benefits to previously retired members of systems.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1603" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1603</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Increase in benefits for previously retired members of systems.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1604" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1604</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Adjustment of increase for retired members electing optional payment or early retirement.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1605" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1605</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Previously retired members paid from consolidated fund.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1606" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1606</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Members of consolidated systems--Entitled to prior benefits--Retention of Code.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1607" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1607</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Amount of benefits for justice or judge mandatorily retired.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1608" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1608</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Board of Regents employees--Definition of balances.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1609" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1609</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Existing regents' contracts preserved--Expansion of retirement plan--Transition.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1610" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1610</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contract for purchase of service for Board of Regents.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1611" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1611</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contributory service credited to Board of Regents employees--Eligibility of nonparticipating employees--Qualification for prior credited service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1612" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1612</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Normal retirement allowance reduced by actuarial equivalent--Deposit of individual balance--Member contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1613" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1613</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Allowance to surviving spouse of law enforcement officer retired for disability.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1614" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1614</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Repealed.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1615" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1615</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Rapid City firefighter membership in system--Benefits and credited service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1616" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1616</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Rapid City firefighter retirement benefits--Normal retirement age.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1617" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1617</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Payments from public employees retirement fund to Rapid City firefighters.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1618" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1618</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Payments by Rapid City.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1619" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1619</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Crediting of transfers from Rapid City pension fund.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1620" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1620</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Retirement benefits for certain city of Aberdeen employees.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1621" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1621</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Aberdeen firefighters to participate in system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1622" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1622</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Eligible benefits for Aberdeen firefighters.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1623" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1623</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Amount to be paid by municipality of Aberdeen.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1624" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1624</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Moneys from Aberdeen firemen s fund--Considered member contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1625" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1625</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Watertown firefighters pension fund members--Credited service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1626" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1626</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Watertown firefighters benefits paid from the system--Minimum benefit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1627" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1627</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Payments by Watertown.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1628" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1628</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Moneys from Watertown firemen s fund--Considered member contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1629" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1629</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Mitchell firefighters as members of system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1630" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1630</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Benefits for Mitchell firefighters.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1631" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1631</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Calculation of Mitchell firefighter benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1632" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1632</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Amount of payment to system by city of Mitchell.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1633" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1633</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Moneys from Mitchell firemen's fund--Considered member contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1634" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1634</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Information required of city of Mitchell.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1635" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1635</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Huron firefighters as members of system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1636" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1636</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Benefits for Huron firefighters.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1637" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1637</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Calculation of Huron firefighter benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1638" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1638</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Amount of payment to system by City of Huron.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1639" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1639</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Moneys from Huron firemen's fund--Considered member contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1640" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1640</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Information required of city of Huron.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1641" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1641</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Election by municipality of Sioux Falls to be participating unit.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1642" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1642</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Transfer of funds in cement plan retirement fund.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1643" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1643</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Members of cement plant retirement plan to be Class C members of system.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1644" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1644</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Class C members to receive benefits as provided under cement plant retirement plan.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1645" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1645</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Moneys from cement plant retirement fund--Considered member contributions.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1646" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1646</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Payment of benefits and operational expenses related to Class C members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1647" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1647</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Promulgation of rules to administer retirement benefits for Class C members.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1648" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1648</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Member election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1649" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1649</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Surviving spouse election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1650" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1650</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Department of Labor and Regulation employees' retirement plan--Membership with system--Class D.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1651" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1651</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Class D membership--Benefits received.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 17. RECLASSIFICATION</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1701" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1701</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Correctional security staff benefits.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1702" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1702</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Calculation of benefits for sheriffs and deputies--Prior elective rights preserved.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1703" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1703</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Calculation of benefits of parole agent.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1704" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1704</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Calculating benefits of air rescue firefighter.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1705" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1705</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Foundation member conservation officers.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1706" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1706</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Benefits of conservation officers employed by Department of Game, Fish and Parks, Division of Custer State Park, and park rangers--Credited service.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal"><span class="s4dbab1564fcc4e9fa390c725d1b16868HG4">PART 18. QUALIFIED BENEFIT PRESERVATION ARRANGEMENT</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868Normal-000000"><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868000001"> </span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1801" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1801</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Participant--Definition in this part.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1802" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1802</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Definition of qualified benefit preservation arrangement.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1803" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1803</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Qualified benefit preservations arrangement--Establishment--Purpose.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1804" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1804</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Eligibility to participate.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Benefit payable.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1806" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1806</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Cost of living adjustment after benefit begins--Change in benefit payable.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1807" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1807</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Qualified benefit preservation arrangement--Funding.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1808" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1808</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Contributions--Accounting.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1809" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1809</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Qualified benefit preservation arrangement trust fund--Establishment--Purpose.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1810" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1810</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Income.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1811" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1811</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Qualified benefit preservation arrangement--Administration.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1812" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1812</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Qualified benefit preservation arrangement--No assignment.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1813" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1813</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Conflicts.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1814" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1814</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Limitation of rights.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1815" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1815</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Erroneous payments--Corrections.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1816" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1816</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Administration of benefit--Release and receipt.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1817" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1817</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reservation of power to change.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1901" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1901</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    General rule.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1902" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1902</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Member's death after distributions begun.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1903" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1903</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Member's death before required distributions begun.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1904" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1904</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Incidental benefit rule.</span></p><p dir="ltr" class="s4dbab1564fcc4e9fa390c725d1b16868B"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1905" rel="noopener"><span class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">3-12C-1905</span></a><span xml:space="preserve" class="s4dbab1564fcc4e9fa390c725d1b16868DefaultParagraphFont">    Reasonable and made in good faith.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</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; 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font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s054a624c2b9f4c7bb7286f1eeb261c2bStatute { margin-left: 0.75in; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s054a624c2b9f4c7bb7286f1eeb261c2b000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } 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; } </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><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sc8fb2440ac8543ad99436f895a6f6ec7Normal { 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.sc8fb2440ac8543ad99436f895a6f6ec7SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc8fb2440ac8543ad99436f895a6f6ec7CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sc8fb2440ac8543ad99436f895a6f6ec7Statute { 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.sc8fb2440ac8543ad99436f895a6f6ec7DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sc8fb2440ac8543ad99436f895a6f6ec7000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc8fb2440ac8543ad99436f895a6f6ec7NoIndent { 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.sc8fb2440ac8543ad99436f895a6f6ec7DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc8fb2440ac8543ad99436f895a6f6ec7SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-102 - Actuarial equivalent defined--Calculation--Assumptions public record."><meta property="og:description" content="SDLRC Codified Law 3-12C-102 - Actuarial equivalent defined--Calculation--Assumptions public record."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-102"><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="sc8fb2440ac8543ad99436f895a6f6ec7Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-102" rel="noopener"><span class="sc8fb2440ac8543ad99436f895a6f6ec7SENU">3-12C-102</span></a><span xml:space="preserve" class="sc8fb2440ac8543ad99436f895a6f6ec7SENU">. </span><span class="sc8fb2440ac8543ad99436f895a6f6ec7CL">Actuarial equivalent defined--Calculation--Assumptions public record.</span></p><p dir="ltr" class="sc8fb2440ac8543ad99436f895a6f6ec7Statute"><span class="sc8fb2440ac8543ad99436f895a6f6ec7DefaultParagraphFont">For purposes of this chapter, "actuarial equivalent" means a benefit of equal value, computed on the basis of the interest rate, mortality, and baseline COLA assumptions adopted by the board for purposes of the actuarial valuation. If the board adopts a select and ultimate rate of interest, the interest rate is the ultimate rate. Mortality is based on a unisex rate that is fifty percent male and fifty percent female for employees and beneficiaries, based on the mortality rates for retired employees and beneficiaries, including, if the board adopts a generational mortality table, a generational projection of mortality improvement with the member's and beneficiary's ages as of the date of the calculation assumed to be in the calendar year in which the plan year containing the date of the calculation begins. If the board adopts distinct mortality tables for the different categories of retired members or beneficiaries, the mortality rates must be based on a weighted blend of the tables with the weighting based on the percentage of accrued benefits for each category of members as the actuarial valuation immediately preceding the date of adoption of the mortality tables. The system must make the interest rate, mortality, and baseline COLA assumptions public.</span></p><p dir="ltr" class="sc8fb2440ac8543ad99436f895a6f6ec7Normal"><span xml:space="preserve" class="sc8fb2440ac8543ad99436f895a6f6ec7000000"> </span></p><p dir="ltr" class="sc8fb2440ac8543ad99436f895a6f6ec7NoIndent"><span xml:space="preserve" class="sc8fb2440ac8543ad99436f895a6f6ec7DefaultParagraphFont-000001">Source: </span><span class="sc8fb2440ac8543ad99436f895a6f6ec7SCL">SL 2016, ch 32, § 51; SL 2017, ch 27, § 6; SDCL § 3-12-47.5; SL 2019, ch 22, § 1; SL 2023, ch 16, § 2; SL 2025, ch 27, § 2.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033249Normal { 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.s2033249SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033249CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033249Normal-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.s2033249DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033249Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033249000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033249SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033249SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033249Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-103"><span class="s2033249SENU">3-12C-103</span></a><span xml:space="preserve" class="s2033249SENU">. </span><span class="s2033249CL">Child defined.</span></p><p dir="ltr" class="s2033249Normal-000000"><span class="s2033249DefaultParagraphFont">For purposes of administering benefits pursuant to this chapter, the term, child, means an unmarried dependent child of the member, who has not passed the child's nineteenth birthday and each unmarried dependent child, who is totally and permanently disabled, either physically or mentally, regardless of the child's age, if the disability occurred before age nineteen. It includes a stepchild or a foster child who depends on the member for support and lives in the household of the member in a regular parent-child relationship. It also includes any child of the member conceived during the member's lifetime and born after the member's death.</span></p><p dir="ltr" class="s2033249Normal-000001"><span class="s2033249DefaultParagraphFont">For purposes of making beneficiary-type payments pursuant to this chapter, the term, child, means a person entitled to take as a child via intestate succession pursuant to the provisions of title 29A.</span></p><p dir="ltr" class="s2033249Normal"><span xml:space="preserve" class="s2033249000002"> </span></p><p dir="ltr" class="s2033249Normal"><span class="s2033249SCL">Source:</span><span xml:space="preserve" class="s2033249SCL-000003"> SL 2019, ch 22, § 3.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s4b1672bf4e8a4e50a311ab321f8edb63Normal { 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.s4b1672bf4e8a4e50a311ab321f8edb63SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4b1672bf4e8a4e50a311ab321f8edb63CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s4b1672bf4e8a4e50a311ab321f8edb63Statute { 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.s4b1672bf4e8a4e50a311ab321f8edb63DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s4b1672bf4e8a4e50a311ab321f8edb63000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4b1672bf4e8a4e50a311ab321f8edb63NoIndent { 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.s4b1672bf4e8a4e50a311ab321f8edb63DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4b1672bf4e8a4e50a311ab321f8edb63SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-104 - COLA or cost of living adjustment defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-104 - COLA or cost of living adjustment defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-104"><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="s4b1672bf4e8a4e50a311ab321f8edb63Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-104" rel="noopener"><span class="s4b1672bf4e8a4e50a311ab321f8edb63SENU">3-12C-104</span></a><span xml:space="preserve" class="s4b1672bf4e8a4e50a311ab321f8edb63SENU">. </span><span class="s4b1672bf4e8a4e50a311ab321f8edb63CL">COLA or cost of living adjustment defined.</span></p><p dir="ltr" class="s4b1672bf4e8a4e50a311ab321f8edb63Statute"><span xml:space="preserve" class="s4b1672bf4e8a4e50a311ab321f8edb63DefaultParagraphFont">For purposes of this chapter, "COLA" or "cost of living adjustment" means the annual increase, if any, as determined by § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-704" rel="noopener"><span class="s4b1672bf4e8a4e50a311ab321f8edb63DefaultParagraphFont">3-12C-704</span></a><span class="s4b1672bf4e8a4e50a311ab321f8edb63DefaultParagraphFont">, in the amount of the benefit provided on July first, compounded annually. No COLA may be provided unless the member has received benefit payments for at least the consecutive, twelve-month period before July first.</span></p><p dir="ltr" class="s4b1672bf4e8a4e50a311ab321f8edb63Normal"><span xml:space="preserve" class="s4b1672bf4e8a4e50a311ab321f8edb63000000"> </span></p><p dir="ltr" class="s4b1672bf4e8a4e50a311ab321f8edb63NoIndent"><span xml:space="preserve" class="s4b1672bf4e8a4e50a311ab321f8edb63DefaultParagraphFont-000001">Source: </span><span class="s4b1672bf4e8a4e50a311ab321f8edb63SCL">SL 2017, ch 27, § 1; SDCL § 3-12-47.10; SL 2019, ch 22, §§ 4, 45; SL 2021, ch 26, § 1; SL 2025, ch 27, § 3.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s333c7fbfdced43a0a765550ef2ef6f59Normal { 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.s333c7fbfdced43a0a765550ef2ef6f59SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s333c7fbfdced43a0a765550ef2ef6f59CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s333c7fbfdced43a0a765550ef2ef6f59Statute { 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.s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s333c7fbfdced43a0a765550ef2ef6f59StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } a.s333c7fbfdced43a0a765550ef2ef6f59000000 { text-decoration: none; } span.s333c7fbfdced43a0a765550ef2ef6f59000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s333c7fbfdced43a0a765550ef2ef6f59NoIndent { 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.s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s333c7fbfdced43a0a765550ef2ef6f59SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-105 - Compensation defined--Exclusions."><meta property="og:description" content="SDLRC Codified Law 3-12C-105 - Compensation defined--Exclusions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-105"><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="s333c7fbfdced43a0a765550ef2ef6f59Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-105" rel="noopener"><span class="s333c7fbfdced43a0a765550ef2ef6f59SENU">3-12C-105</span></a><span xml:space="preserve" class="s333c7fbfdced43a0a765550ef2ef6f59SENU">. </span><span class="s333c7fbfdced43a0a765550ef2ef6f59CL">Compensation defined--Exclusions.</span></p><p dir="ltr" class="s333c7fbfdced43a0a765550ef2ef6f59Statute"><span class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont">For purposes of this chapter, "compensation" means gross wages paid to a member by the employer for credited service rendered during the period for which the payment was earned. Compensation includes:</span></p><p dir="ltr" class="s333c7fbfdced43a0a765550ef2ef6f59StatuteNumber2"><span class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont">(a)    Any amount reported as wages, tips, and other compensation on the member's federal form W-2 wage and tax statement;</span></p><p dir="ltr" class="s333c7fbfdced43a0a765550ef2ef6f59StatuteNumber2"><span xml:space="preserve" class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont">(b)    Any amount of contributions made on behalf of a member by an employer after June 30, 1984, pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-401" rel="noopener"><span class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont">3-12C-401</span></a><span class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont">; and</span></p><p dir="ltr" class="s333c7fbfdced43a0a765550ef2ef6f59StatuteNumber2"><span class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont">(c)    Any amount contributed by a member to a plan that meets the requirements of § 125, 401, 403, 408, or 457 of the Internal Revenue Code.</span></p><p dir="ltr" class="s333c7fbfdced43a0a765550ef2ef6f59Statute"><span xml:space="preserve" class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont">Compensation does not include any allowance, payment, or reimbursement for travel, meals, lodging, moving, uniforms, or any other expense that is incidental to employment and paid or reimbursed by the employer; any lump sum payment for sick leave; any lump sum payment for annual leave; any payment for, or in lieu of, insurance coverage of any kind or any other employee benefit paid by an employer directly to a member or directly to a third party on behalf of a member or a member and any dependent; any allowance or payment for housing or vehicles; any temporary payment paid as a lump sum or over a period of time that is not due to additional duties; any amount paid in a one-time lump sum payment or over a period of time and based on or attributable to retirement or an agreement to retire in the future or results in an incentive to retire; any payment made </span><a id="_pagenumber14" class="s333c7fbfdced43a0a765550ef2ef6f59000000" rel="noopener"></a><span class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont">upon dismissal or severance; any worker's compensation payment; and any payment contingent on a member terminating employment at a specified time in the future paid or payable in a lump sum or over a period of time.</span></p><p dir="ltr" class="s333c7fbfdced43a0a765550ef2ef6f59Normal"><span xml:space="preserve" class="s333c7fbfdced43a0a765550ef2ef6f59000001"> </span></p><p dir="ltr" class="s333c7fbfdced43a0a765550ef2ef6f59NoIndent"><span xml:space="preserve" class="s333c7fbfdced43a0a765550ef2ef6f59DefaultParagraphFont-000002">Source: </span><span class="s333c7fbfdced43a0a765550ef2ef6f59SCL">SL 2016, ch 32, § 52; SL 2017, ch 28, § 1; SL 2017, ch 28, § 2, eff. Jan. 1, 2018; SDCL § 3-12-47.6; SL 2019, ch 22, § 1; SL 2020, ch 12, § 11; SL 2025, ch 27, § 4.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sad71c41104c14ca0a1d86b31abdef8feNormal { 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.sad71c41104c14ca0a1d86b31abdef8feSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sad71c41104c14ca0a1d86b31abdef8feCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sad71c41104c14ca0a1d86b31abdef8feStatute { 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.sad71c41104c14ca0a1d86b31abdef8feDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sad71c41104c14ca0a1d86b31abdef8fe000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sad71c41104c14ca0a1d86b31abdef8feNoIndent { 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.sad71c41104c14ca0a1d86b31abdef8feDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sad71c41104c14ca0a1d86b31abdef8feSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-106 - Contributing member defined--Report."><meta property="og:description" content="SDLRC Codified Law 3-12C-106 - Contributing member defined--Report."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-106"><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="sad71c41104c14ca0a1d86b31abdef8feNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-106" rel="noopener"><span class="sad71c41104c14ca0a1d86b31abdef8feSENU">3-12C-106</span></a><span xml:space="preserve" class="sad71c41104c14ca0a1d86b31abdef8feSENU">. </span><span class="sad71c41104c14ca0a1d86b31abdef8feCL">Contributing member defined--Report.</span></p><p dir="ltr" class="sad71c41104c14ca0a1d86b31abdef8feStatute"><span class="sad71c41104c14ca0a1d86b31abdef8feDefaultParagraphFont">For purposes of this chapter, "contributing member" means any member for whom the system receives an employer contribution report. The employer contribution report must state any contributions made for the member by the employer and employee.</span></p><p dir="ltr" class="sad71c41104c14ca0a1d86b31abdef8feNormal"><span xml:space="preserve" class="sad71c41104c14ca0a1d86b31abdef8fe000000"> </span></p><p dir="ltr" class="sad71c41104c14ca0a1d86b31abdef8feNoIndent"><span xml:space="preserve" class="sad71c41104c14ca0a1d86b31abdef8feDefaultParagraphFont-000001">Source: </span><span class="sad71c41104c14ca0a1d86b31abdef8feSCL">SL 2016, ch 32, § 53; SDCL § 3-12-47.7; SL 2019, ch 22, § 1; SL 2025, ch 27, § 5.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s7f06559ddc36419494fd8178f5ac3ab3Normal { 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.s7f06559ddc36419494fd8178f5ac3ab3SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s7f06559ddc36419494fd8178f5ac3ab3CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s7f06559ddc36419494fd8178f5ac3ab3Statute { 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.s7f06559ddc36419494fd8178f5ac3ab3DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s7f06559ddc36419494fd8178f5ac3ab3000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s7f06559ddc36419494fd8178f5ac3ab3NoIndent { 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.s7f06559ddc36419494fd8178f5ac3ab3DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s7f06559ddc36419494fd8178f5ac3ab3SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-106.1 - Establishing active membership--Termination--Quarterly contribution credited--Exception."><meta property="og:description" content="SDLRC Codified Law 3-12C-106.1 - Establishing active membership--Termination--Quarterly contribution credited--Exception."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-106.1"><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="s7f06559ddc36419494fd8178f5ac3ab3Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-106.1" rel="noopener"><span class="s7f06559ddc36419494fd8178f5ac3ab3SENU">3-12C-106.1</span></a><span xml:space="preserve" class="s7f06559ddc36419494fd8178f5ac3ab3SENU">. </span><span class="s7f06559ddc36419494fd8178f5ac3ab3CL">Establishing active membership--Termination--Quarterly contribution credited--Exception.</span></p><p dir="ltr" class="s7f06559ddc36419494fd8178f5ac3ab3Statute"><span class="s7f06559ddc36419494fd8178f5ac3ab3DefaultParagraphFont">A member's period of active membership in the system is established by the date of the employer contribution report to the system, which must include the member's initial employee and employer contributions. A member's active membership is terminated when the system receives notice of termination from an employer, accompanied by the member's final employee and employer contributions.</span></p><p dir="ltr" class="s7f06559ddc36419494fd8178f5ac3ab3Statute"><span class="s7f06559ddc36419494fd8178f5ac3ab3DefaultParagraphFont">If the system receives any employee and employer contributions on behalf of a member during a calendar quarter, the member must be credited with a full calendar quarter of contributory service toward calculating the member's benefits or determining the member's eligibility for benefits, but not for determining whether a member's death was active status or inactive status.</span></p><p dir="ltr" class="s7f06559ddc36419494fd8178f5ac3ab3Normal"><span xml:space="preserve" class="s7f06559ddc36419494fd8178f5ac3ab3000000"> </span></p><p dir="ltr" class="s7f06559ddc36419494fd8178f5ac3ab3NoIndent"><span xml:space="preserve" class="s7f06559ddc36419494fd8178f5ac3ab3DefaultParagraphFont-000001">Source: </span><span class="s7f06559ddc36419494fd8178f5ac3ab3SCL">SL 2025, ch 27, § 6.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.se120ab9c72a3410fb774065cf2b0d23dNormal { 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.se120ab9c72a3410fb774065cf2b0d23dSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se120ab9c72a3410fb774065cf2b0d23dCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.se120ab9c72a3410fb774065cf2b0d23dStatute { 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.se120ab9c72a3410fb774065cf2b0d23dDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.se120ab9c72a3410fb774065cf2b0d23d000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se120ab9c72a3410fb774065cf2b0d23dNoIndent { 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.se120ab9c72a3410fb774065cf2b0d23dDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se120ab9c72a3410fb774065cf2b0d23dSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-107 - Disability defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-107 - Disability defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-107"><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="se120ab9c72a3410fb774065cf2b0d23dNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-107" rel="noopener"><span class="se120ab9c72a3410fb774065cf2b0d23dSENU">3-12C-107</span></a><span xml:space="preserve" class="se120ab9c72a3410fb774065cf2b0d23dSENU">. </span><span class="se120ab9c72a3410fb774065cf2b0d23dCL">Disability defined.</span></p><p dir="ltr" class="se120ab9c72a3410fb774065cf2b0d23dStatute"><span class="se120ab9c72a3410fb774065cf2b0d23dDefaultParagraphFont">For purposes of this chapter, "disability" or "disabled" means any medically determinable physical or mental impairment that prevents a member from performing the member's usual duties for the member's employer, even with accommodations, or performing the duties of a comparable level position for the member's employer. The term excludes any condition resulting from a willful, self-inflicted injury.</span></p><p dir="ltr" class="se120ab9c72a3410fb774065cf2b0d23dNormal"><span xml:space="preserve" class="se120ab9c72a3410fb774065cf2b0d23d000000"> </span></p><p dir="ltr" class="se120ab9c72a3410fb774065cf2b0d23dNoIndent"><span xml:space="preserve" class="se120ab9c72a3410fb774065cf2b0d23dDefaultParagraphFont-000001">Source: </span><span class="se120ab9c72a3410fb774065cf2b0d23dSCL">SL 2019, ch 22, § 5; SL 2025, ch 27, § 7.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s9a2aebbdc44b460f8260b79158966dc6Normal { 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.s9a2aebbdc44b460f8260b79158966dc6SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9a2aebbdc44b460f8260b79158966dc6CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s9a2aebbdc44b460f8260b79158966dc6Statute { 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.s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s9a2aebbdc44b460f8260b79158966dc6000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s9a2aebbdc44b460f8260b79158966dc6NoIndent { 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.s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9a2aebbdc44b460f8260b79158966dc6SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-108 - Effective rate of interest defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-108 - Effective rate of interest defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-108"><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="s9a2aebbdc44b460f8260b79158966dc6Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-108" rel="noopener"><span class="s9a2aebbdc44b460f8260b79158966dc6SENU">3-12C-108</span></a><span xml:space="preserve" class="s9a2aebbdc44b460f8260b79158966dc6SENU">. </span><span class="s9a2aebbdc44b460f8260b79158966dc6CL">Effective rate of interest defined.</span></p><p dir="ltr" class="s9a2aebbdc44b460f8260b79158966dc6Statute"><span xml:space="preserve" class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont">For purposes of this chapter, "effective rate of interest" means the interest at an annually compounded rate to be established by the board for each fiscal year. The rate may be no greater than ninety percent of the average ninety-one day United States treasury bill rate for the immediately preceding calendar year and in no event may the rate be more than the rate established by the board pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-227" rel="noopener"><span class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont">3-12C-227</span></a><span xml:space="preserve" class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont">, for investment return for purposes of the actuarial valuation. If a member withdraws contributions pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-602" rel="noopener"><span class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont">3-12C-602</span></a><span xml:space="preserve" class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-604" rel="noopener"><span class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont">3-12C-604</span></a><span xml:space="preserve" class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont">, or if benefits are payable under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-409" rel="noopener"><span class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont">3-12C-409</span></a><span class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont">, the interest must be as annually compounded on the preceding June thirtieth.</span></p><p dir="ltr" class="s9a2aebbdc44b460f8260b79158966dc6Normal"><span xml:space="preserve" class="s9a2aebbdc44b460f8260b79158966dc6000000"> </span></p><p dir="ltr" class="s9a2aebbdc44b460f8260b79158966dc6NoIndent"><span xml:space="preserve" class="s9a2aebbdc44b460f8260b79158966dc6DefaultParagraphFont-000001">Source: </span><span class="s9a2aebbdc44b460f8260b79158966dc6SCL">SL 2016, ch 32, § 54; SDCL § 3-12-47.8; SL 2019, ch 22, § 1; SL 2025, ch 27, § 8.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s1904e4cb41f14bbb95122c89fc5291a5Normal { 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.s1904e4cb41f14bbb95122c89fc5291a5SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1904e4cb41f14bbb95122c89fc5291a5CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s1904e4cb41f14bbb95122c89fc5291a5Statute { 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.s1904e4cb41f14bbb95122c89fc5291a5DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s1904e4cb41f14bbb95122c89fc5291a5000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s1904e4cb41f14bbb95122c89fc5291a5NoIndent { 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.s1904e4cb41f14bbb95122c89fc5291a5DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1904e4cb41f14bbb95122c89fc5291a5SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-109 - Minimum actuarial requirement to support benefits defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-109 - Minimum actuarial requirement to support benefits defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-109"><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="s1904e4cb41f14bbb95122c89fc5291a5Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-109" rel="noopener"><span class="s1904e4cb41f14bbb95122c89fc5291a5SENU">3-12C-109</span></a><span xml:space="preserve" class="s1904e4cb41f14bbb95122c89fc5291a5SENU">. </span><span class="s1904e4cb41f14bbb95122c89fc5291a5CL">Minimum actuarial requirement to support benefits defined.</span></p><p dir="ltr" class="s1904e4cb41f14bbb95122c89fc5291a5Statute"><span class="s1904e4cb41f14bbb95122c89fc5291a5DefaultParagraphFont">For purposes of this chapter, "minimum actuarial requirement to support benefits" means the normal cost and the interest on and amortization of the unfunded actuarial accrued liability over a period not to exceed twenty years, all expressed in terms of a percentage of covered payroll and based on the baseline COLA or the restricted COLA, as applicable. If the actuarial value of assets exceeds the actuarial accrued liability, the minimum actuarial requirement to support benefits includes recognition of the amount by which the actuarial value of assets exceeds the actuarial accrued liability. In no event may the recognition reduce the minimum actuarial requirement to support benefits to a percentage less than the contribution rate.</span></p><p dir="ltr" class="s1904e4cb41f14bbb95122c89fc5291a5Normal"><span xml:space="preserve" class="s1904e4cb41f14bbb95122c89fc5291a5000000"> </span></p><p dir="ltr" class="s1904e4cb41f14bbb95122c89fc5291a5NoIndent"><span xml:space="preserve" class="s1904e4cb41f14bbb95122c89fc5291a5DefaultParagraphFont-000001">Source: </span><span class="s1904e4cb41f14bbb95122c89fc5291a5SCL">SL 2018, ch 33, § 13; SDCL § 3-12-120.4; SL 2019, ch 22, § 1; SL 2023, ch 16, § 3; SL 2025, ch 27, § 9.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sfd423a0da7964cddb2da60361f9dca1aNormal { 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.sfd423a0da7964cddb2da60361f9dca1aSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sfd423a0da7964cddb2da60361f9dca1aCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sfd423a0da7964cddb2da60361f9dca1aStatute { 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.sfd423a0da7964cddb2da60361f9dca1aDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sfd423a0da7964cddb2da60361f9dca1a000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sfd423a0da7964cddb2da60361f9dca1aNoIndent { 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.sfd423a0da7964cddb2da60361f9dca1aDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sfd423a0da7964cddb2da60361f9dca1aSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-110 - Spouse defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-110 - Spouse defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-110"><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="sfd423a0da7964cddb2da60361f9dca1aNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-110" rel="noopener"><span class="sfd423a0da7964cddb2da60361f9dca1aSENU">3-12C-110</span></a><span xml:space="preserve" class="sfd423a0da7964cddb2da60361f9dca1aSENU">. </span><span class="sfd423a0da7964cddb2da60361f9dca1aCL">Spouse defined.</span></p><p dir="ltr" class="sfd423a0da7964cddb2da60361f9dca1aStatute"><span class="sfd423a0da7964cddb2da60361f9dca1aDefaultParagraphFont">For purposes of this chapter, "spouse" means an individual who was married to the member at the time of the death of the member and whose marriage was both before the member's retirement and more than twelve months before the death of the member.</span></p><p dir="ltr" class="sfd423a0da7964cddb2da60361f9dca1aNormal"><span xml:space="preserve" class="sfd423a0da7964cddb2da60361f9dca1a000000"> </span></p><p dir="ltr" class="sfd423a0da7964cddb2da60361f9dca1aNoIndent"><span xml:space="preserve" class="sfd423a0da7964cddb2da60361f9dca1aDefaultParagraphFont-000001">Source: </span><span class="sfd423a0da7964cddb2da60361f9dca1aSCL">SL 2019, ch 22, § 6; SL 2025, ch 27, § 10.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s94135c3512ea49cfbc94373c944d3fd7Normal { 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.s94135c3512ea49cfbc94373c944d3fd7SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s94135c3512ea49cfbc94373c944d3fd7CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s94135c3512ea49cfbc94373c944d3fd7Statute { 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.s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s94135c3512ea49cfbc94373c944d3fd7StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s94135c3512ea49cfbc94373c944d3fd7000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s94135c3512ea49cfbc94373c944d3fd7NoIndent { 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.s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s94135c3512ea49cfbc94373c944d3fd7SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-111 - Terminated defined--Exceptions."><meta property="og:description" content="SDLRC Codified Law 3-12C-111 - Terminated defined--Exceptions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-111"><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="s94135c3512ea49cfbc94373c944d3fd7Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-111" rel="noopener"><span class="s94135c3512ea49cfbc94373c944d3fd7SENU">3-12C-111</span></a><span xml:space="preserve" class="s94135c3512ea49cfbc94373c944d3fd7SENU">. </span><span class="s94135c3512ea49cfbc94373c944d3fd7CL">Terminated defined--Exceptions.</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7Statute"><span class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont">For purposes of this chapter, "terminated" means a complete severance of employment from public service of any member by resignation or discharge and involves the following termination proceedings routinely followed by the member's participating unit:</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7StatuteNumber2"><span class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont">(a)    Payment to the member for unused vacation leave;</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7StatuteNumber2"><span class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont">(b)    Payment to the member for unused sick leave;</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7StatuteNumber2"><span class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont">(c)    Payment to the member for severance of an employment contract;</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7StatuteNumber2"><span class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont">(d)    Severance of employer-provided health insurance coverage;</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7StatuteNumber2"><span class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont">(e)    Severance of employer-provided life insurance coverage; or</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7StatuteNumber2"><span class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont">(f)    Severance of any other employer-provided perquisite of employment granted by the member's participating unit to an active employee.</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7Statute"><span class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont">The term does not mean a leave of absence, layoff, vacation leave, sick leave, or jury duty.</span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7Normal"><span xml:space="preserve" class="s94135c3512ea49cfbc94373c944d3fd7000000"> </span></p><p dir="ltr" class="s94135c3512ea49cfbc94373c944d3fd7NoIndent"><span xml:space="preserve" class="s94135c3512ea49cfbc94373c944d3fd7DefaultParagraphFont-000001">Source: </span><span class="s94135c3512ea49cfbc94373c944d3fd7SCL">SL 2019, ch 22, § 7; SL 2025, ch 27, § 11.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.se650f24c0d764cd1bb92cc88b70005b9Normal { 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.se650f24c0d764cd1bb92cc88b70005b9SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se650f24c0d764cd1bb92cc88b70005b9CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.se650f24c0d764cd1bb92cc88b70005b9Statute { 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.se650f24c0d764cd1bb92cc88b70005b9DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.se650f24c0d764cd1bb92cc88b70005b9000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se650f24c0d764cd1bb92cc88b70005b9NoIndent { 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.se650f24c0d764cd1bb92cc88b70005b9DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se650f24c0d764cd1bb92cc88b70005b9SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-112 - Vested defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-112 - Vested defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-112"><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="se650f24c0d764cd1bb92cc88b70005b9Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-112" rel="noopener"><span class="se650f24c0d764cd1bb92cc88b70005b9SENU">3-12C-112</span></a><span xml:space="preserve" class="se650f24c0d764cd1bb92cc88b70005b9SENU">. </span><span class="se650f24c0d764cd1bb92cc88b70005b9CL">Vested defined.</span></p><p dir="ltr" class="se650f24c0d764cd1bb92cc88b70005b9Statute"><span class="se650f24c0d764cd1bb92cc88b70005b9DefaultParagraphFont">For purposes of this chapter, "vested" means the right to a retirement benefit from the system, as provided for in this chapter, after three years of contributory service or noncontributory service, even if the member leaves the employment of a participating unit, provided the member does not withdraw accumulated contributions.</span></p><p dir="ltr" class="se650f24c0d764cd1bb92cc88b70005b9Normal"><span xml:space="preserve" class="se650f24c0d764cd1bb92cc88b70005b9000000"> </span></p><p dir="ltr" class="se650f24c0d764cd1bb92cc88b70005b9NoIndent"><span xml:space="preserve" class="se650f24c0d764cd1bb92cc88b70005b9DefaultParagraphFont-000001">Source: </span><span class="se650f24c0d764cd1bb92cc88b70005b9SCL">SL 2019, ch 22, § 8; SL 2025, ch 27, § 12.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sc39659ce7e4b495a81820bb151d8d5cfNormal { 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.sc39659ce7e4b495a81820bb151d8d5cfSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc39659ce7e4b495a81820bb151d8d5cfCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sc39659ce7e4b495a81820bb151d8d5cfStatute { 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.sc39659ce7e4b495a81820bb151d8d5cfDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sc39659ce7e4b495a81820bb151d8d5cf000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc39659ce7e4b495a81820bb151d8d5cfNoIndent { 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.sc39659ce7e4b495a81820bb151d8d5cfDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc39659ce7e4b495a81820bb151d8d5cfSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-113 - Internal Revenue Code references."><meta property="og:description" content="SDLRC Codified Law 3-12C-113 - Internal Revenue Code references."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-113"><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="sc39659ce7e4b495a81820bb151d8d5cfNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-113" rel="noopener"><span class="sc39659ce7e4b495a81820bb151d8d5cfSENU">3-12C-113</span></a><span xml:space="preserve" class="sc39659ce7e4b495a81820bb151d8d5cfSENU">. </span><span class="sc39659ce7e4b495a81820bb151d8d5cfCL">Internal Revenue Code references.</span></p><p dir="ltr" class="sc39659ce7e4b495a81820bb151d8d5cfStatute"><span class="sc39659ce7e4b495a81820bb151d8d5cfDefaultParagraphFont">For purposes of this chapter, "Internal Revenue Code" or "code" means the United States Internal Revenue Code (January 1, 2026).</span></p><p dir="ltr" class="sc39659ce7e4b495a81820bb151d8d5cfNormal"><span xml:space="preserve" class="sc39659ce7e4b495a81820bb151d8d5cf000000"> </span></p><p dir="ltr" class="sc39659ce7e4b495a81820bb151d8d5cfNoIndent"><span xml:space="preserve" class="sc39659ce7e4b495a81820bb151d8d5cfDefaultParagraphFont-000001">Source: </span><span class="sc39659ce7e4b495a81820bb151d8d5cfSCL">SL 2023, ch 14, § 2; SL 2024, ch 21, § 1; SL 2025, ch 28, § 1; SL 2026, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sb3100cb11a35447c8e9fe3aa18461c61Normal { 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.sb3100cb11a35447c8e9fe3aa18461c61SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb3100cb11a35447c8e9fe3aa18461c61CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sb3100cb11a35447c8e9fe3aa18461c61Statute { 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.sb3100cb11a35447c8e9fe3aa18461c61DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sb3100cb11a35447c8e9fe3aa18461c61000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sb3100cb11a35447c8e9fe3aa18461c61NoIndent { 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.sb3100cb11a35447c8e9fe3aa18461c61DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb3100cb11a35447c8e9fe3aa18461c61SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-114 - Member information defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-114 - Member information defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-114"><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="sb3100cb11a35447c8e9fe3aa18461c61Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-114" rel="noopener"><span class="sb3100cb11a35447c8e9fe3aa18461c61SENU">3-12C-114</span></a><span xml:space="preserve" class="sb3100cb11a35447c8e9fe3aa18461c61SENU">. </span><span class="sb3100cb11a35447c8e9fe3aa18461c61CL">Member information defined.</span></p><p dir="ltr" class="sb3100cb11a35447c8e9fe3aa18461c61Statute"><span class="sb3100cb11a35447c8e9fe3aa18461c61DefaultParagraphFont">For purposes of this chapter, "member information" means any information collected, prepared, or received by the system, relating to a member of the system. The term does not include data in a form that cannot be associated with or otherwise identify, directly or indirectly, a particular member of the system.</span></p><p dir="ltr" class="sb3100cb11a35447c8e9fe3aa18461c61Normal"><span xml:space="preserve" class="sb3100cb11a35447c8e9fe3aa18461c61000000"> </span></p><p dir="ltr" class="sb3100cb11a35447c8e9fe3aa18461c61NoIndent"><span xml:space="preserve" class="sb3100cb11a35447c8e9fe3aa18461c61DefaultParagraphFont-000001">Source: </span><span class="sb3100cb11a35447c8e9fe3aa18461c61SCL">SL 2025, ch 29, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033259Normal { 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.s2033259SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033259CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033259Normal-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.s2033259DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033259000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033259SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033259SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033259Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-201"><span class="s2033259SENU">3-12C-201</span></a><span xml:space="preserve" class="s2033259SENU">. </span><span class="s2033259CL">Citation of chapter.</span></p><p dir="ltr" class="s2033259Normal-000000"><span class="s2033259DefaultParagraphFont">This chapter shall be cited as the South Dakota Retirement Act.</span></p><p dir="ltr" class="s2033259Normal"><span xml:space="preserve" class="s2033259000001"> </span></p><p dir="ltr" class="s2033259Normal"><span class="s2033259SCL">Source:</span><span xml:space="preserve" class="s2033259SCL-000002"> SL 1974, ch 35, § 84; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-128"><span class="s2033259SCL-000002">3-12-128</span></a><span class="s2033259SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033260Normal { 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.s2033260SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033260CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033260Normal-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.s2033260DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033260000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033260SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033260SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033260Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-202"><span class="s2033260SENU">3-12C-202</span></a><span xml:space="preserve" class="s2033260SENU">. </span><span class="s2033260CL">System managed by board--Standard of conduct--Legal advice.</span></p><p dir="ltr" class="s2033260Normal-000000"><span class="s2033260DefaultParagraphFont">The system shall be under the Board of Trustees. The Board of Trustees shall be held to the standard of conduct of a fiduciary and shall carry out its functions solely in the interest of the members and benefit recipients and for the exclusive purpose of providing benefits and defraying reasonable expenses incurred in performing such duties as required by law. The system may not engage in any activity that is not solely designed to provide for the exclusive benefit of the members and benefit recipients of the system. The attorney general is the legal adviser to the board.</span></p><p dir="ltr" class="s2033260Normal"><span xml:space="preserve" class="s2033260000001"> </span></p><p dir="ltr" class="s2033260Normal"><span class="s2033260SCL">Source:</span><span xml:space="preserve" class="s2033260SCL-000002"> SL 1967, ch 303, § 3; SDCL § 3-12-4; SL 1968, ch 216, § 1; SL 1973, ch 2, § 22 (a) to (d); SL 1973, ch 25; SDCL Supp, §§ 3-12-4.1, 3-13-4.1, 13-45-8.1, 16-8-7.1; SL 1974, ch 35, § 12; SL 1979, ch 27, § 3; SL 1992, ch 30, § 2; SL 2010, ch 21, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-54"><span class="s2033260SCL-000002">3-12-54</span></a><span class="s2033260SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sb3143ba8c97f4b9787c642830fda729bNormal { 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.sb3143ba8c97f4b9787c642830fda729bSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb3143ba8c97f4b9787c642830fda729bCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sb3143ba8c97f4b9787c642830fda729bStatute { 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.sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sb3143ba8c97f4b9787c642830fda729bStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sb3143ba8c97f4b9787c642830fda729b000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sb3143ba8c97f4b9787c642830fda729bNoIndent { 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.sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb3143ba8c97f4b9787c642830fda729bSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-203 - Trustees--Board created--Composition."><meta property="og:description" content="SDLRC Codified Law 3-12C-203 - Trustees--Board created--Composition."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-203"><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="sb3143ba8c97f4b9787c642830fda729bNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-203" rel="noopener"><span class="sb3143ba8c97f4b9787c642830fda729bSENU">3-12C-203</span></a><span xml:space="preserve" class="sb3143ba8c97f4b9787c642830fda729bSENU">. </span><span class="sb3143ba8c97f4b9787c642830fda729bCL">Trustees--Board created--Composition.</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatute"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">There is created a governing authority of the system known as the Board of Trustees. Voting representation on the board must be the following:</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(1)    Two state employee members;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(2)    Two certified school employee members;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(3)    A participating municipality member;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(4)    A participating county member;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(5)    A participating classified employee member;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(6)    A current contributing Class B public safety member;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(7)    A Class B judicial member;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span xml:space="preserve" class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(8)    One head of a principal department established pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=1-32-2" rel="noopener"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">1-32-2</span></a><span xml:space="preserve" class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">, or one head of a bureau under the Department of Executive Management established pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=1-33-3" rel="noopener"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">1-33-3</span></a><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">, appointed by the Governor;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(9)    An individual appointed by the Governor;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(10)    A county commissioner of a participating county;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(11)    A school district board member;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(12)    An elected municipal official of a participating municipality;</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(13)    A retiree; and</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatuteNumber1"><span xml:space="preserve" class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">(14)    A faculty or administrative member employed by the Board of Regents and not subject to the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=3-6D" rel="noopener"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">3-6D</span></a><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">.</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bStatute"><span class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont">A representative of the State Investment Council shall serve as an ex officio nonvoting member.</span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bNormal"><span xml:space="preserve" class="sb3143ba8c97f4b9787c642830fda729b000000"> </span></p><p dir="ltr" class="sb3143ba8c97f4b9787c642830fda729bNoIndent"><span xml:space="preserve" class="sb3143ba8c97f4b9787c642830fda729bDefaultParagraphFont-000001">Source: </span><span class="sb3143ba8c97f4b9787c642830fda729bSCL">SL 1967, ch 303, § 3; SDCL § 3-12-4; SL 1968, ch 216, § 1; SL 1973, ch 25; SL 1974, ch 35, § 3; SL 1975, ch 38, § 7; SL 1976, ch 39, § 8; SL 1977, ch 28, § 4; SL 1979, ch 27, § 1; SL 1994, ch 33; SL 2018, ch 33, § 7; SDCL § 3-12-48; SL 2019, ch 22, § 1; SL 2020, ch 12, § 2; SL 2025, ch 27, § 13.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033262Normal { 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.s2033262SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033262CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033262Normal-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.s2033262DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033262000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033262SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033262SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033262Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-204"><span class="s2033262SENU">3-12C-204</span></a><span xml:space="preserve" class="s2033262SENU">. </span><span class="s2033262CL">Election of trustees--Terms of office.</span></p><p dir="ltr" class="s2033262Normal-000000"><span xml:space="preserve" class="s2033262DefaultParagraphFont">Each group of retirement system members who are vested or are currently contributing or employers as set out in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-203"><span class="s2033262DefaultParagraphFont">3-12C-203</span></a><span xml:space="preserve" class="s2033262DefaultParagraphFont"> shall elect its own trustee or trustees in a separate election. The board shall promulgate rules, pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2033262DefaultParagraphFont">1-26</span></a><span class="s2033262DefaultParagraphFont">, to carry out the elections. The regular term of office of a trustee is four years and expires on June thirtieth. The appointees of the Governor shall serve at the pleasure of the Governor. The appointee of the Investment Council shall serve at the pleasure of the Investment Council. Except for appointees of the Governor and Investment Council, upon the death or resignation of a trustee, the board shall appoint a successor. The successor trustee shall fill the position immediately and serve until the June thirtieth that is no less than three but no more than four years after taking office.</span></p><p dir="ltr" class="s2033262Normal"><span xml:space="preserve" class="s2033262000001"> </span></p><p dir="ltr" class="s2033262Normal"><span class="s2033262SCL">Source:</span><span xml:space="preserve" class="s2033262SCL-000002"> SL 1959, ch 84, § 6; SDC Supp 1960, § 15.3910; SL 1961, ch 255, §§ 5, 6; SL 1965, ch 220, §§ 5, 6; SL 1967, ch 303, § 3; SDCL §§ 3-12-4, 9-15-4 (5), 9-15-5, 13-45-9; SL 1968, ch 216, § 1; SL 1970, ch 106, § 1; SL 1973, ch 25; SL 1974, ch 35, §§ 5 to 7; SL 1976, ch 41; SL 1977, ch 28, § 14; SL 1979, ch 27, § 2; SL 2011, ch 21, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-49"><span class="s2033262SCL-000002">3-12-49</span></a><span class="s2033262SCL-000002">; SL 2019, ch 22, § 1; SL 2019, ch 23, § 7.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033263Normal { 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.s2033263SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033263CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033263Normal-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.s2033263DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033263000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033263SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033263SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033263Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-205"><span class="s2033263SENU">3-12C-205</span></a><span xml:space="preserve" class="s2033263SENU">. </span><span class="s2033263CL">Resignation of trustee due to loss of qualifying status--Filling of vacancy.</span></p><p dir="ltr" class="s2033263Normal-000000"><span class="s2033263DefaultParagraphFont">If any trustee no longer serves in the capacity that qualified the trustee for membership on the board, the trustee is considered to have resigned from the board on June thirtieth of the following calendar year. The vacancy created by the resignation shall be filled through the annual election process. However, if the vacancy is not filled through the annual election process, the board shall fill the vacancy by appointment. The person elected or appointed shall serve a four-year term regardless of the time remaining in the term of the trustee who ceased serving in the qualifying capacity. The provisions of this section do not apply to any trustee who, on January 1, 2019, is no longer serving in the capacity that qualified the trustee.</span></p><p dir="ltr" class="s2033263Normal"><span xml:space="preserve" class="s2033263000001"> </span></p><p dir="ltr" class="s2033263Normal"><span class="s2033263SCL">Source:</span><span xml:space="preserve" class="s2033263SCL-000002"> SL 1959, ch 84, § 8; SDC Supp 1960, § 15.3912; SL 1961, ch 255, § 7; SDCL §§ 9-15-6, 13-45-12; SL 1970, ch 106, § 2; SL 1974, ch 35, § 11; SL 1982, ch 32, § 2; SL 2011, ch 21, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-53"><span class="s2033263SCL-000002">3-12-53</span></a><span class="s2033263SCL-000002">; SL 2019, ch 22, § 1; SL 2019, ch 23, § 6.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s37d94076c4ed466a9d63985cc5adb6a1Normal { 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.s37d94076c4ed466a9d63985cc5adb6a1SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s37d94076c4ed466a9d63985cc5adb6a1CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s37d94076c4ed466a9d63985cc5adb6a1Statute { 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.s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s37d94076c4ed466a9d63985cc5adb6a1000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s37d94076c4ed466a9d63985cc5adb6a1NoIndent { 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.s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s37d94076c4ed466a9d63985cc5adb6a1SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-205.1 - Trustees--Filling a vacancy--Represented group defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-205.1 - Trustees--Filling a vacancy--Represented group defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-205.1"><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="s37d94076c4ed466a9d63985cc5adb6a1Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-205.1" rel="noopener"><span class="s37d94076c4ed466a9d63985cc5adb6a1SENU">3-12C-205.1</span></a><span xml:space="preserve" class="s37d94076c4ed466a9d63985cc5adb6a1SENU">. </span><span class="s37d94076c4ed466a9d63985cc5adb6a1CL">Trustees--Filling a vacancy--Represented group defined.</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1Statute"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">The executive director must be notified of a vacancy on the board by the vacating trustee, by the trustee's participating unit's governing body, by the trustee's employer, or by any other trustee. Upon the executive director's receipt of notice, the procedure to fill the vacancy is as follows:</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber1"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">(1)    The executive director shall notify all trustees of the vacancy;</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber1"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">(2)    If circumstances permit, the executive director must ask the vacating trustee to recommend a replacement to serve in the trustee's stead;</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber1"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">(3)    If the vacancy is for a trustee to serve on behalf of:</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber2"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">(a)    An employer-represented group, the executive director must provide notice of the vacancy to the governing body of each participating unit affected by the vacancy and request the governing body's input in seeking a qualified candidate. The executive director shall solicit resumes of qualified individuals from governing bodies and interested individuals. The resumes must be submitted to the executive director. If a statewide association exists that is made up of members of the employer-represented group, the executive director must notify the association of the vacancy and request the association's input in seeking a qualified candidate; or</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber2"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">(b)    An employee-represented group, the executive director must provide notice of the vacancy to all authorized agents for the group affected by the vacancy and request that all employees affected by the vacancy be notified of the vacancy. Any interested member of the represented group may submit a resume to the executive director. If a statewide association exists that is made up of members of the employee-represented group, the executive director must notify the association of the vacancy and request the association's input in seeking a qualified candidate;</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber1"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">(4)    The executive director shall provide to each trustee a copy of each resume received; and</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1StatuteNumber1"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">(5)    At the next board meeting following a sufficient period of time to receive resumes, the board shall, by secret ballot, select a trustee from among the individuals who submitted resumes.</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1Statute"><span xml:space="preserve" class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">For purposes of this section, "represented group" means a group entitled to elect one or more trustees, pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-203" rel="noopener"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">3-12C-203</span></a><span xml:space="preserve" class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-204" rel="noopener"><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">3-12C-204</span></a><span class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont">. The group to which a trustee belongs is determined from the records of the system.</span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1Normal"><span xml:space="preserve" class="s37d94076c4ed466a9d63985cc5adb6a1000000"> </span></p><p dir="ltr" class="s37d94076c4ed466a9d63985cc5adb6a1NoIndent"><span xml:space="preserve" class="s37d94076c4ed466a9d63985cc5adb6a1DefaultParagraphFont-000001">Source: </span><span class="s37d94076c4ed466a9d63985cc5adb6a1SCL">SL 2025, ch 27, § 14.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s582b902a85394e69b085b0096a8037bfNormal { 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.s582b902a85394e69b085b0096a8037bfSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s582b902a85394e69b085b0096a8037bfCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s582b902a85394e69b085b0096a8037bfStatute { 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.s582b902a85394e69b085b0096a8037bfDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s582b902a85394e69b085b0096a8037bf000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s582b902a85394e69b085b0096a8037bfNoIndent { 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.s582b902a85394e69b085b0096a8037bfDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s582b902a85394e69b085b0096a8037bfSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-206 - Trustees--Oath of office."><meta property="og:description" content="SDLRC Codified Law 3-12C-206 - Trustees--Oath of office."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-206"><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="s582b902a85394e69b085b0096a8037bfNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-206" rel="noopener"><span class="s582b902a85394e69b085b0096a8037bfSENU">3-12C-206</span></a><span xml:space="preserve" class="s582b902a85394e69b085b0096a8037bfSENU">. </span><span class="s582b902a85394e69b085b0096a8037bfCL">Trustees--Oath of office.</span></p><p dir="ltr" class="s582b902a85394e69b085b0096a8037bfStatute"><span xml:space="preserve" class="s582b902a85394e69b085b0096a8037bfDefaultParagraphFont">Each trustee, after being appointed or elected, shall take and file in the Office of the Secretary of State the oath required by § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-1-5" rel="noopener"><span class="s582b902a85394e69b085b0096a8037bfDefaultParagraphFont">3-1-5</span></a><span class="s582b902a85394e69b085b0096a8037bfDefaultParagraphFont">.</span></p><p dir="ltr" class="s582b902a85394e69b085b0096a8037bfNormal"><span xml:space="preserve" class="s582b902a85394e69b085b0096a8037bf000000"> </span></p><p dir="ltr" class="s582b902a85394e69b085b0096a8037bfNoIndent"><span xml:space="preserve" class="s582b902a85394e69b085b0096a8037bfDefaultParagraphFont-000001">Source: </span><span class="s582b902a85394e69b085b0096a8037bfSCL">SL 1959, ch 84, § 7; SDC Supp 1960, § 15.3911; SL 1961, ch 255, § 8; SL 1967, ch 303, § 3; SDCL §§ 3-12-5, 9-15-8, 13-45-10; SL 1968, ch 216, § 1; SL 1974, ch 35, § 8; SDCL § 3-12-50; SL 2019, ch 22, §§ 9, 45; SL 2022, ch 15, § 2.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sce51df80412f4a3ab6c17eba769e748bNormal { 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.sce51df80412f4a3ab6c17eba769e748bSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sce51df80412f4a3ab6c17eba769e748bCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sce51df80412f4a3ab6c17eba769e748bStatute { 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.sce51df80412f4a3ab6c17eba769e748bDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sce51df80412f4a3ab6c17eba769e748b000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sce51df80412f4a3ab6c17eba769e748bNoIndent { 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.sce51df80412f4a3ab6c17eba769e748bDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sce51df80412f4a3ab6c17eba769e748bSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-207 - Trustees--Compensation and expense reimbursement."><meta property="og:description" content="SDLRC Codified Law 3-12C-207 - Trustees--Compensation and expense reimbursement."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-207"><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="sce51df80412f4a3ab6c17eba769e748bNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-207" rel="noopener"><span class="sce51df80412f4a3ab6c17eba769e748bSENU">3-12C-207</span></a><span xml:space="preserve" class="sce51df80412f4a3ab6c17eba769e748bSENU">. </span><span class="sce51df80412f4a3ab6c17eba769e748bCL">Trustees--Compensation and expense reimbursement.</span></p><p dir="ltr" class="sce51df80412f4a3ab6c17eba769e748bStatute"><span xml:space="preserve" class="sce51df80412f4a3ab6c17eba769e748bDefaultParagraphFont">Each trustee shall receive per diem compensation and allowable expense reimbursement, pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=4-7-10.4" rel="noopener"><span class="sce51df80412f4a3ab6c17eba769e748bDefaultParagraphFont">4-7-10.4</span></a><span class="sce51df80412f4a3ab6c17eba769e748bDefaultParagraphFont">.</span></p><p dir="ltr" class="sce51df80412f4a3ab6c17eba769e748bNormal"><span xml:space="preserve" class="sce51df80412f4a3ab6c17eba769e748b000000"> </span></p><p dir="ltr" class="sce51df80412f4a3ab6c17eba769e748bNoIndent"><span xml:space="preserve" class="sce51df80412f4a3ab6c17eba769e748bDefaultParagraphFont-000001">Source: </span><span class="sce51df80412f4a3ab6c17eba769e748bSCL">SL 1967, ch 303, § 3; SDCL § 3-12-6; SL 1968, ch 216, § 1; SL 1974, ch 35, § 9; SDCL § 3-12-51; SL 2019, ch 22, § 1; SL 2025, ch 27, § 15.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033266Normal { 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.s2033266SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033266CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033266Normal-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.s2033266DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033266000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033266SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033266SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033266Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-208"><span class="s2033266SENU">3-12C-208</span></a><span xml:space="preserve" class="s2033266SENU">. </span><span class="s2033266CL">Meetings of board--Chair and vice chair--Votes required for decision.</span></p><p dir="ltr" class="s2033266Normal-000000"><span class="s2033266DefaultParagraphFont">The board shall meet at least twice each year, and shall adopt its own rules of procedure. A majority of trustees constitutes a quorum. At the first meeting of each fiscal year the board shall elect from the board's membership a chair and a vice chair. At least eight concurrent votes and a majority of the members present are required for a decision by the board for any of its meetings.</span></p><p dir="ltr" class="s2033266Normal"><span xml:space="preserve" class="s2033266000001"> </span></p><p dir="ltr" class="s2033266Normal"><span class="s2033266SCL">Source:</span><span xml:space="preserve" class="s2033266SCL-000002"> SL 1959, ch 84, §§ 9, 10; SDC Supp 1960, §§ 15.3913, 15.3914; SL 1961, ch 255, §§ 9 (a), 10; SL 1963, ch 285; SL 1965, ch 220, §§ 7, 8; SL 1967, ch 303, § 3 (1), (2); SDCL §§ 3-12-7, 3-12-8, 9-15-10, 9-15-17, 13-45-13, 13-45-14; SL 1968, ch 216, § 1; SL 1974, ch 35, § 10; SL 2012, ch 26, § 7; SL 2016, ch 31, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-52"><span class="s2033266SCL-000002">3-12-52</span></a><span class="s2033266SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s0a8ad471513549ae93dbf6007d9ba760Normal { 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.s0a8ad471513549ae93dbf6007d9ba760SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s0a8ad471513549ae93dbf6007d9ba760CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s0a8ad471513549ae93dbf6007d9ba760Statute { 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.s0a8ad471513549ae93dbf6007d9ba760DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s0a8ad471513549ae93dbf6007d9ba760000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s0a8ad471513549ae93dbf6007d9ba760NoIndent { 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.s0a8ad471513549ae93dbf6007d9ba760DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s0a8ad471513549ae93dbf6007d9ba760SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-209 - Executive director--Appointment--Compensation--Retirement Laws Committee approval--Employment of personnel--Bond--Board secretary."><meta property="og:description" content="SDLRC Codified Law 3-12C-209 - Executive director--Appointment--Compensation--Retirement Laws Committee approval--Employment of personnel--Bond--Board secretary."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-209"><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="s0a8ad471513549ae93dbf6007d9ba760Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-209" rel="noopener"><span class="s0a8ad471513549ae93dbf6007d9ba760SENU">3-12C-209</span></a><span xml:space="preserve" class="s0a8ad471513549ae93dbf6007d9ba760SENU">. </span><span class="s0a8ad471513549ae93dbf6007d9ba760CL">Executive director--Appointment--Compensation--Retirement Laws Committee approval--Employment of personnel--Bond--Board secretary.</span></p><p dir="ltr" class="s0a8ad471513549ae93dbf6007d9ba760Statute"><span class="s0a8ad471513549ae93dbf6007d9ba760DefaultParagraphFont">The board shall appoint an executive director, qualified by training and experience, to serve at the pleasure of the board. The board shall fix the compensation for the executive director. The compensation must be based on a compensation policy, adopted by the board, which considers an analysis of the compensation and responsibilities of executive directors of regional statewide retirement systems. The board may adjust the salary of the executive director annually in accordance with the state employee salary policy, as enacted by the Legislature in each corresponding year.</span></p><p dir="ltr" class="s0a8ad471513549ae93dbf6007d9ba760Statute"><span class="s0a8ad471513549ae93dbf6007d9ba760DefaultParagraphFont">The board shall report any change in the executive director's compensation above the state employee salary policy to the Retirement Laws Committee before July first for the upcoming fiscal year. The change in compensation above the state employee salary policy is effective if approved by a majority vote of the Retirement Laws Committee.</span></p><p dir="ltr" class="s0a8ad471513549ae93dbf6007d9ba760Statute"><span class="s0a8ad471513549ae93dbf6007d9ba760DefaultParagraphFont">The executive director may hire additional employees as may be required to transact the business of the retirement system and shall fix the remuneration for the services.</span></p><p dir="ltr" class="s0a8ad471513549ae93dbf6007d9ba760Statute"><span class="s0a8ad471513549ae93dbf6007d9ba760DefaultParagraphFont">The board shall require the bonding of the executive director in an amount set by the board and included under the state employees' blanket bond. The premium may be charged to the fund.</span></p><p dir="ltr" class="s0a8ad471513549ae93dbf6007d9ba760Statute"><span class="s0a8ad471513549ae93dbf6007d9ba760DefaultParagraphFont">The executive director shall act as secretary of the board. Any document required to be filed with the board must be filed with the executive director.</span></p><p dir="ltr" class="s0a8ad471513549ae93dbf6007d9ba760Normal"><span xml:space="preserve" class="s0a8ad471513549ae93dbf6007d9ba760000000"> </span></p><p dir="ltr" class="s0a8ad471513549ae93dbf6007d9ba760NoIndent"><span xml:space="preserve" class="s0a8ad471513549ae93dbf6007d9ba760DefaultParagraphFont-000001">Source: </span><span class="s0a8ad471513549ae93dbf6007d9ba760SCL">SL 1967, ch 303, § 3 (4), (5); SDCL §§ 3-12-9, 3-12-10; SL 1968, ch 216, § 1; SL 1974, ch 35, § 13; SL 1979, ch 27, § 4; SL 1980, ch 32; SL 1995, ch 17; SL 1998, ch 20, § 1; SL 2016, ch 31, § 2; SL 2017, ch 30, § 1; SL 2018, ch 35, § 1; SDCL § 3-12-55; SL 2019, ch 22, § 1; SL 2025, ch 27, § 16.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033268Normal { 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.s2033268SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033268CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033268Normal-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.s2033268DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033268000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033268SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033268SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033268Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-210"><span class="s2033268SENU">3-12C-210</span></a><span xml:space="preserve" class="s2033268SENU">. </span><span class="s2033268CL">Expense fund continued--Transfer from retirement system fund--Report of budget--Appropriation and disbursement for expenses.</span></p><p dir="ltr" class="s2033268Normal-000000"><span class="s2033268DefaultParagraphFont">The South Dakota Retirement System expense fund is continued and the board is authorized to transfer from the South Dakota Retirement System fund an annual amount not to exceed three percent of the annual contributions received by the system, and the money transferred is appropriated for the payment of the administrative costs of the system. The board shall report its proposed annual budget to the Legislature for approval. Expenditures from all funds shall be disbursed on warrants drawn by the state auditor and shall be supported by vouchers approved by the executive director of the system.</span></p><p dir="ltr" class="s2033268Normal"><span xml:space="preserve" class="s2033268000001"> </span></p><p dir="ltr" class="s2033268Normal"><span class="s2033268SCL">Source:</span><span xml:space="preserve" class="s2033268SCL-000002"> SL 1967, ch 303, § 12; SDCL § 3-12-42; SL 1968, ch 216, § 1; SL 1970, ch 25, § 12; SL 1974, ch 35, § 18; SL 1976, ch 42; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2033268SCL-000002">11-1</span></a><span xml:space="preserve" class="s2033268SCL-000002">), § 33, eff. Apr. 12, 2011; SL 2016, ch 31, § 5; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-61"><span class="s2033268SCL-000002">3-12-61</span></a><span class="s2033268SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033269Normal { 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.s2033269SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033269CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033269Normal-000000 { 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.s2033269DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033269Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033269Normal-000002 { text-indent: 0.25in; 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.s2033269000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033269SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033269SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033269Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-211"><span class="s2033269SENU">3-12C-211</span></a><span xml:space="preserve" class="s2033269SENU">. </span><span class="s2033269CL">Rules for administration.</span></p><p dir="ltr" class="s2033269Normal-000000"><span class="s2033269DefaultParagraphFont">The Board of Trustees may promulgate rules necessary to establish uniform procedures for the administration of the system and to insure uniformity of application of the provisions of this chapter. Rules may be adopted in the following areas:</span></p><p dir="ltr" class="s2033269Normal-000001"><span class="s2033269DefaultParagraphFont">(1)    Membership and class of membership;</span></p><p dir="ltr" class="s2033269Normal-000001"><span class="s2033269DefaultParagraphFont">(2)    Contributions and the collection of contributions;</span></p><p dir="ltr" class="s2033269Normal-000001"><span class="s2033269DefaultParagraphFont">(3)    Criteria and procedures for the determination of applications for, and payment of disability benefits;</span></p><p dir="ltr" class="s2033269Normal-000001"><span class="s2033269DefaultParagraphFont">(4)    Procedure for applications for benefits and the payment of benefits;</span></p><p dir="ltr" class="s2033269Normal-000001"><span class="s2033269DefaultParagraphFont">(5)    Election of trustees; and</span></p><p dir="ltr" class="s2033269Normal-000001"><span class="s2033269DefaultParagraphFont">(6)    Procedure for the conduct of meetings of the board.</span></p><p dir="ltr" class="s2033269Normal-000002"><span xml:space="preserve" class="s2033269DefaultParagraphFont">The rules shall be promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2033269DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2033269DefaultParagraphFont"> and shall be in accordance with the provisions of this chapter.</span></p><p dir="ltr" class="s2033269Normal"><span xml:space="preserve" class="s2033269000003"> </span></p><p dir="ltr" class="s2033269Normal"><span class="s2033269SCL">Source:</span><span xml:space="preserve" class="s2033269SCL-000004"> SL 1967, ch 303, § 3 (9); SDCL § 3-12-11; SL 1968, ch 216, § 1; SL 1974, ch 35, § 15; SL 1983, ch 22, § 1; SL 2017, ch 27, § 7; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-58"><span class="s2033269SCL-000004">3-12-58</span></a><span class="s2033269SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s9775331b560a4203b2fd4250ca575681Normal { 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.s9775331b560a4203b2fd4250ca575681SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9775331b560a4203b2fd4250ca575681CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s9775331b560a4203b2fd4250ca575681Statute { 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.s9775331b560a4203b2fd4250ca575681DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s9775331b560a4203b2fd4250ca575681000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s9775331b560a4203b2fd4250ca575681NoIndent { 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.s9775331b560a4203b2fd4250ca575681DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9775331b560a4203b2fd4250ca575681SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-212 - Membership, refund, or benefit applications."><meta property="og:description" content="SDLRC Codified Law 3-12C-212 - Membership, refund, or benefit applications."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-212"><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="s9775331b560a4203b2fd4250ca575681Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-212" rel="noopener"><span class="s9775331b560a4203b2fd4250ca575681SENU">3-12C-212</span></a><span xml:space="preserve" class="s9775331b560a4203b2fd4250ca575681SENU">. </span><span class="s9775331b560a4203b2fd4250ca575681CL">Membership, refund, or benefit applications.</span></p><p dir="ltr" class="s9775331b560a4203b2fd4250ca575681Statute"><span class="s9775331b560a4203b2fd4250ca575681DefaultParagraphFont">An application for membership, a refund of the member's accumulated contributions, or any benefit must be made to the executive director on a form approved by the system.</span></p><p dir="ltr" class="s9775331b560a4203b2fd4250ca575681Normal"><span xml:space="preserve" class="s9775331b560a4203b2fd4250ca575681000000"> </span></p><p dir="ltr" class="s9775331b560a4203b2fd4250ca575681NoIndent"><span xml:space="preserve" class="s9775331b560a4203b2fd4250ca575681DefaultParagraphFont-000001">Source: </span><span class="s9775331b560a4203b2fd4250ca575681SCL">SL 1974, ch 35, § 14; SL 2016, ch 31, § 3; SDCL § 3-12-56; SL 2019, ch 22, §§ 12, 45; SL 2021, ch 27, § 1; SL 2025, ch 30, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s1c58c18e4ee9490c9c0474d20a993579Normal { 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.s1c58c18e4ee9490c9c0474d20a993579SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1c58c18e4ee9490c9c0474d20a993579CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s1c58c18e4ee9490c9c0474d20a993579Statute { 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.s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s1c58c18e4ee9490c9c0474d20a993579000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s1c58c18e4ee9490c9c0474d20a993579NoIndent { 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.s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1c58c18e4ee9490c9c0474d20a993579SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-213 - Grievance procedure--Hearing request--Deadline--Contested case."><meta property="og:description" content="SDLRC Codified Law 3-12C-213 - Grievance procedure--Hearing request--Deadline--Contested case."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-213"><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="s1c58c18e4ee9490c9c0474d20a993579Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-213" rel="noopener"><span class="s1c58c18e4ee9490c9c0474d20a993579SENU">3-12C-213</span></a><span xml:space="preserve" class="s1c58c18e4ee9490c9c0474d20a993579SENU">. </span><span class="s1c58c18e4ee9490c9c0474d20a993579CL">Grievance procedure--Hearing request--Deadline--Contested case.</span></p><p dir="ltr" class="s1c58c18e4ee9490c9c0474d20a993579Statute"><span xml:space="preserve" class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">Any individual aggrieved by an order of the executive director issued pursuant to this chapter and chapters </span><a href="https://sdlegislature.gov/Statutes?Statute=3-13" rel="noopener"><span class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">3-13</span></a><span xml:space="preserve" class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=3-13A" rel="noopener"><span class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">3-13A</span></a><span xml:space="preserve" class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont"> may, in writing, request a contested case hearing before the executive director, if that individual believes that the order is based upon a mistake of fact or error of law.</span></p><p dir="ltr" class="s1c58c18e4ee9490c9c0474d20a993579Statute"><span class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">The written hearing request must be received by the executive director within sixty days from the date the order was mailed to the individual by certified mail and must contain a statement indicating the portion of the order being contested and the mistake of fact or error of law that the individual believes resulted in an invalid order. If a written request for hearing is not received by the executive director within sixty days from the date the order was mailed by certified mail to the individual, then no court has jurisdiction over a suit to contest the order.</span></p><p dir="ltr" class="s1c58c18e4ee9490c9c0474d20a993579Statute"><span class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">For purposes of this section, if a written request for hearing is sent by United States mail, the date of the postmark placed by the United States postal service is the date received by the executive director.</span></p><p dir="ltr" class="s1c58c18e4ee9490c9c0474d20a993579Statute"><span xml:space="preserve" class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">A hearing under this section and any subsequent appeal must occur in accordance with chapters </span><a href="https://sdlegislature.gov/Statutes?Statute=1-26" rel="noopener"><span class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=1-26D" rel="noopener"><span class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">1-26D</span></a><span class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont">.</span></p><p dir="ltr" class="s1c58c18e4ee9490c9c0474d20a993579Normal"><span xml:space="preserve" class="s1c58c18e4ee9490c9c0474d20a993579000000"> </span></p><p dir="ltr" class="s1c58c18e4ee9490c9c0474d20a993579NoIndent"><span xml:space="preserve" class="s1c58c18e4ee9490c9c0474d20a993579DefaultParagraphFont-000001">Source: </span><span class="s1c58c18e4ee9490c9c0474d20a993579SCL">SL 2008, ch 22, § 1; SL 2016, ch 31, § 4; SL 2018, ch 33, § 8; SDCL § 3-12-57.1; SL 2019, ch 22, § 1; SL 2026, ch 23, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sea8a4f2624b24fd5bd3301c940d29e66Normal { 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.sea8a4f2624b24fd5bd3301c940d29e66SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sea8a4f2624b24fd5bd3301c940d29e66CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sea8a4f2624b24fd5bd3301c940d29e66Statute { 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.sea8a4f2624b24fd5bd3301c940d29e66DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sea8a4f2624b24fd5bd3301c940d29e66000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sea8a4f2624b24fd5bd3301c940d29e66NoIndent { 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.sea8a4f2624b24fd5bd3301c940d29e66DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sea8a4f2624b24fd5bd3301c940d29e66SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-214 - Correction of records--Adjustment for underpayment or overpayment--Promulgation of rules--Limitation--Member access to own records."><meta property="og:description" content="SDLRC Codified Law 3-12C-214 - Correction of records--Adjustment for underpayment or overpayment--Promulgation of rules--Limitation--Member access to own records."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-214"><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="sea8a4f2624b24fd5bd3301c940d29e66Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-214" rel="noopener"><span class="sea8a4f2624b24fd5bd3301c940d29e66SENU">3-12C-214</span></a><span xml:space="preserve" class="sea8a4f2624b24fd5bd3301c940d29e66SENU">. </span><span class="sea8a4f2624b24fd5bd3301c940d29e66CL">Correction of records--Adjustment for underpayment or overpayment--Promulgation of rules--Limitation--Member access to own records.</span></p><p dir="ltr" class="sea8a4f2624b24fd5bd3301c940d29e66Statute"><span class="sea8a4f2624b24fd5bd3301c940d29e66DefaultParagraphFont">If any change or error in the records of the system or any participating unit results in any person receiving from the system less than the person would have been entitled to receive had the records been correct, the executive director must correct the error and, as far as practicable, adjust the payment to provide the person the amount to which the person is correctly entitled.</span></p><p dir="ltr" class="sea8a4f2624b24fd5bd3301c940d29e66Statute"><span xml:space="preserve" class="sea8a4f2624b24fd5bd3301c940d29e66DefaultParagraphFont">If any change or error in the records of the system or any participating unit results in any person receiving from the system more than the person would have been entitled to receive had the records been correct, the executive director must correct the error and, as far as practicable, recover the overpayment to reflect the amount to which the person is correctly entitled. The board shall promulgate rules, pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=1-26" rel="noopener"><span class="sea8a4f2624b24fd5bd3301c940d29e66DefaultParagraphFont">1-26</span></a><span class="sea8a4f2624b24fd5bd3301c940d29e66DefaultParagraphFont">, concerning the methods by which an overpayment must be repaid, including an actuarial equivalent. The recovery of an overpayment is limited to the amount attributable to any error that occurred during the six-year period immediately before the discovery of the error. This limitation does not apply in the case of fraud, intentional misrepresentation, material omission, or other fault on the part of a member or beneficiary.</span></p><p dir="ltr" class="sea8a4f2624b24fd5bd3301c940d29e66Statute"><span class="sea8a4f2624b24fd5bd3301c940d29e66DefaultParagraphFont">Upon request, a member of the system may, during business hours, inspect any file directly relating to the member and request the correction of any alleged errors in the file.</span></p><p dir="ltr" class="sea8a4f2624b24fd5bd3301c940d29e66Normal"><span xml:space="preserve" class="sea8a4f2624b24fd5bd3301c940d29e66000000"> </span></p><p dir="ltr" class="sea8a4f2624b24fd5bd3301c940d29e66NoIndent"><span xml:space="preserve" class="sea8a4f2624b24fd5bd3301c940d29e66DefaultParagraphFont-000001">Source: </span><span class="sea8a4f2624b24fd5bd3301c940d29e66SCL">SL 1959, ch 84, § 38; SDC Supp 1960, § 15.3942; SL 1961, ch 255, § 40; SDCL §§ 9-15-68, 13-45-70; SL 1970, ch 25, § 13; SDCL Supp, § 3-12-44; SL 1974, ch 35, § 68; SL 2015, ch 28, § 1; SL 2016, ch 31, § 23; SDCL § 3-12-114; SL 2019, ch 22, § 1; SL 2025, ch 27, § 17.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s4f1275d863ce47f1b6913905868f0c48Normal { 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.s4f1275d863ce47f1b6913905868f0c48SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4f1275d863ce47f1b6913905868f0c48CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s4f1275d863ce47f1b6913905868f0c48Statute { 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.s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4f1275d863ce47f1b6913905868f0c48StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s4f1275d863ce47f1b6913905868f0c48StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s4f1275d863ce47f1b6913905868f0c48000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4f1275d863ce47f1b6913905868f0c48NoIndent { 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.s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4f1275d863ce47f1b6913905868f0c48SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-214.1 - Member repayment of overpayments--Options--Interest--Delayed repayment--Failure to select an option--Required notice and presumption."><meta property="og:description" content="SDLRC Codified Law 3-12C-214.1 - Member repayment of overpayments--Options--Interest--Delayed repayment--Failure to select an option--Required notice and presumption."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-214.1"><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="s4f1275d863ce47f1b6913905868f0c48Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-214.1" rel="noopener"><span class="s4f1275d863ce47f1b6913905868f0c48SENU">3-12C-214.1</span></a><span xml:space="preserve" class="s4f1275d863ce47f1b6913905868f0c48SENU">. </span><span class="s4f1275d863ce47f1b6913905868f0c48CL">Member repayment of overpayments--Options--Interest--Delayed repayment--Failure to select an option--Required notice and presumption.</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48Statute"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">Any member required to repay an overpayment of benefits may choose one of the following repayment methods:</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48StatuteNumber1"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">(1)    Immediate repayment in a lump sum from other funds;</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48StatuteNumber1"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">(2)    Repayment by monthly installments over a period not to exceed three years, plus interest at the system's assumed rate of return;</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48StatuteNumber1"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">(3)    Repayment by monthly benefit reductions over a period not to exceed three years, plus interest at the system's assumed rate of return; or</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48StatuteNumber1"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">(4)    Repayment by an actuarial equivalent reduction in monthly benefits as follows:</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48StatuteNumber2"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">(a)    If the member is a foundation member and does not have a spouse, the reduction must continue for the member's lifetime. If the member is a foundation member with a potential surviving spouse benefit payable, the reduction must reduce both the member's monthly benefits and the surviving spouse's monthly benefits and must continue for both the member's and the surviving spouse's lifetimes; or</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48StatuteNumber2"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">(b)    If the member is a generational member and elected a single life benefit, the reduction must continue for the member's lifetime. If the member is a generational member with a joint and survivor benefit payable, the reduction must reduce both the member's monthly benefits and the surviving spouse's monthly benefits and must continue for both the member's and the surviving spouse's lifetimes.</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48Statute"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">If a member required to repay an overpayment does not choose a repayment option within two months after being given notice of the overpayment, the member is deemed to have chosen to make repayment by an actuarial equivalent reduction in monthly benefits. If repayment is pursuant to an actuarial equivalent reduction by either the member's choice or the member's failure to choose a repayment option, system staff must inform the member that the reduction is unlikely to result in repayment of the exact amount of the overpayment, plus interest if appropriate, and the member is presumed to understand.</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48Statute"><span class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont">If repayment is delayed for more than three months, interest on the overpayment amount must accrue during the period of delay at the system's assumed rate of return. If any overpayment is due to a system error, the executive director may absolve any interest accrual.</span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48Normal"><span xml:space="preserve" class="s4f1275d863ce47f1b6913905868f0c48000000"> </span></p><p dir="ltr" class="s4f1275d863ce47f1b6913905868f0c48NoIndent"><span xml:space="preserve" class="s4f1275d863ce47f1b6913905868f0c48DefaultParagraphFont-000001">Source: </span><span class="s4f1275d863ce47f1b6913905868f0c48SCL">SL 2025, ch 27, § 18.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sdbbcd2ba864c4463b8fcb4604e0d0a6dNormal { 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.sdbbcd2ba864c4463b8fcb4604e0d0a6dSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sdbbcd2ba864c4463b8fcb4604e0d0a6dCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sdbbcd2ba864c4463b8fcb4604e0d0a6dStatute { 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.sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sdbbcd2ba864c4463b8fcb4604e0d0a6dStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sdbbcd2ba864c4463b8fcb4604e0d0a6d000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sdbbcd2ba864c4463b8fcb4604e0d0a6dNoIndent { 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.sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sdbbcd2ba864c4463b8fcb4604e0d0a6dSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-214.2 - Repayment of overpayments by person other than member--Options--Interest--Delayed repayment--Failure to select an option--Required notice and presumption."><meta property="og:description" content="SDLRC Codified Law 3-12C-214.2 - Repayment of overpayments by person other than member--Options--Interest--Delayed repayment--Failure to select an option--Required notice and presumption."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-214.2"><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="sdbbcd2ba864c4463b8fcb4604e0d0a6dNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-214.2" rel="noopener"><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dSENU">3-12C-214.2</span></a><span xml:space="preserve" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dSENU">. </span><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dCL">Repayment of overpayments by person other than member--Options--Interest--Delayed repayment--Failure to select an option--Required notice and presumption.</span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dStatute"><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont">Any person other than a member who is required to repay an overpayment of benefits may choose one of the following repayment methods:</span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dStatuteNumber1"><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont">(1)    Immediate repayment in a lump sum from other funds;</span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dStatuteNumber1"><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont">(2)    Repayment by monthly installments over a period not to exceed three years, plus interest at the system's assumed rate of return;</span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dStatuteNumber1"><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont">(3)    Repayment by monthly benefit reductions over a period not to exceed three years, plus interest at the system's assumed rate of return; or</span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dStatuteNumber1"><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont">(4)    Repayment by an actuarial equivalent reduction in monthly benefits that must continue as long as the benefit is paid.</span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dStatute"><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont">If the person required to repay an overpayment is receiving a benefit from the system and does not choose a repayment option within two months after being given notice of the overpayment, the person is deemed to have chosen to make repayment by an actuarial equivalent reduction in monthly benefits. If repayment is pursuant to an actuarial equivalent reduction by either the person's choice or the person's failure to choose a repayment option, system staff must inform the person that the reduction is unlikely to result in repayment of the exact amount of the overpayment plus interest if appropriate, and the person is presumed to understand.</span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dStatute"><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont">If repayment is delayed for more than three months, interest on the overpayment amount must accrue during the period of delay at the system's assumed rate of return. If any overpayment is due to a system error, the executive director may absolve any interest accrual.</span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dNormal"><span xml:space="preserve" class="sdbbcd2ba864c4463b8fcb4604e0d0a6d000000"> </span></p><p dir="ltr" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dNoIndent"><span xml:space="preserve" class="sdbbcd2ba864c4463b8fcb4604e0d0a6dDefaultParagraphFont-000001">Source: </span><span class="sdbbcd2ba864c4463b8fcb4604e0d0a6dSCL">SL 2025, ch 27, § 19.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s5fed8dd745a543a8b8bf9c7db0153d4cNormal { 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.s5fed8dd745a543a8b8bf9c7db0153d4cSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s5fed8dd745a543a8b8bf9c7db0153d4cCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s5fed8dd745a543a8b8bf9c7db0153d4cStatute { 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.s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s5fed8dd745a543a8b8bf9c7db0153d4cStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s5fed8dd745a543a8b8bf9c7db0153d4c000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s5fed8dd745a543a8b8bf9c7db0153d4cNoIndent { 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.s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s5fed8dd745a543a8b8bf9c7db0153d4cSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-215 - Member information confidential--Permitted disclosure."><meta property="og:description" content="SDLRC Codified Law 3-12C-215 - Member information confidential--Permitted disclosure."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-215"><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="s5fed8dd745a543a8b8bf9c7db0153d4cNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-215" rel="noopener"><span class="s5fed8dd745a543a8b8bf9c7db0153d4cSENU">3-12C-215</span></a><span xml:space="preserve" class="s5fed8dd745a543a8b8bf9c7db0153d4cSENU">. </span><span class="s5fed8dd745a543a8b8bf9c7db0153d4cCL">Member information confidential--Permitted disclosure.</span></p><p dir="ltr" class="s5fed8dd745a543a8b8bf9c7db0153d4cStatute"><span class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont">Member information is confidential. Member information may be disclosed only in the following circumstances:</span></p><p dir="ltr" class="s5fed8dd745a543a8b8bf9c7db0153d4cStatuteNumber1"><span class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont">(1)    To the member or with the member s consent;</span></p><p dir="ltr" class="s5fed8dd745a543a8b8bf9c7db0153d4cStatuteNumber1"><span xml:space="preserve" class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont">(2)    For the purpose of, and only to the extent necessary for, the administration of this chapter and chapters </span><a href="https://sdlegislature.gov/Statutes?Statute=3-13" rel="noopener"><span class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont">3-13</span></a><span xml:space="preserve" class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=3-13A" rel="noopener"><span class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont">3-13A</span></a><span class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont">; or</span></p><p dir="ltr" class="s5fed8dd745a543a8b8bf9c7db0153d4cStatuteNumber1"><span class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont">(3)    In a judicial or administrative proceeding, to the extent required by a proper judicial or administrative order.</span></p><p dir="ltr" class="s5fed8dd745a543a8b8bf9c7db0153d4cNormal"><span xml:space="preserve" class="s5fed8dd745a543a8b8bf9c7db0153d4c000000"> </span></p><p dir="ltr" class="s5fed8dd745a543a8b8bf9c7db0153d4cNoIndent"><span xml:space="preserve" class="s5fed8dd745a543a8b8bf9c7db0153d4cDefaultParagraphFont-000001">Source: </span><span class="s5fed8dd745a543a8b8bf9c7db0153d4cSCL">SL 2002, ch 22, § 5; SDCL § 3-12-58.1; SL 2019, ch 22, § 1; SL 2020, ch 12, § 3; SL 2025, ch 29, § 2.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033274Normal { 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.s2033274SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033274CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033274Normal-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.s2033274DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033274000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033274SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033274SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033274Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-216"><span class="s2033274SENU">3-12C-216</span></a><span xml:space="preserve" class="s2033274SENU">. </span><span class="s2033274CL">Exemption of contributions and benefits from taxation and process.</span></p><p dir="ltr" class="s2033274Normal-000000"><span class="s2033274DefaultParagraphFont">The rights of a person to a benefit, return of accumulated contributions, the benefit itself, any optional benefits and any other right accrued or accruing under the provisions of this chapter and all moneys belonging to the system are hereby exempt from any state, county, municipal, or other local tax and may not be subject to execution, garnishment, attachment, operation of bankruptcy or insolvency laws or any other process of law whatsoever and shall be unassignable, except as required under applicable law, including any qualified domestic relations order as defined in § 414(p) of the Internal Revenue Code, or as is otherwise specifically provided in this chapter.</span></p><p dir="ltr" class="s2033274Normal"><span xml:space="preserve" class="s2033274000001"> </span></p><p dir="ltr" class="s2033274Normal"><span class="s2033274SCL">Source:</span><span xml:space="preserve" class="s2033274SCL-000002"> SL 1959, ch 84, § 40; SDC Supp 1960, § 15.3943; SL 1961, ch 255, § 42; SDCL §§ 9-15-70, 13-45-69; SL 1970, ch 25, § 13; SDCL Supp, § 3-12-45; SL 1974, ch 35, § 69; SL 1985, ch 24, § 3; SL 2013, ch 20, § 11; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-115"><span class="s2033274SCL-000002">3-12-115</span></a><span class="s2033274SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033275Normal { 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.s2033275SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033275CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033275Normal-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.s2033275DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033275Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033275000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033275SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033275SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033275Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-217"><span class="s2033275SENU">3-12C-217</span></a><span xml:space="preserve" class="s2033275SENU">. </span><span class="s2033275CL">Domestic relations orders--Determination as to whether qualified--Restrictions on provisions.</span></p><p dir="ltr" class="s2033275Normal-000000"><span xml:space="preserve" class="s2033275DefaultParagraphFont">For purposes of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-216"><span class="s2033275DefaultParagraphFont">3-12C-216</span></a><span class="s2033275DefaultParagraphFont">, the system shall determine if a domestic relations order is a qualified domestic relations order. Upon receipt of a domestic relations order, the system shall promptly issue a written notice of receipt to the member and any alternate payee. Within a reasonable period of time, the system shall issue a determination indicating if the domestic relations order qualifies as a plan-approved domestic relations order in accordance with § 414(p) of the Internal Revenue Code.</span></p><p dir="ltr" class="s2033275Normal-000001"><span class="s2033275DefaultParagraphFont">No order may require the payment of benefits to an alternate payee before the retirement of a member or the withdrawal of a member's accumulated contributions for a distribution to an alternate payee. In addition, no order may require the payment of monthly benefits to an alternate payee after the death of the member.</span></p><p dir="ltr" class="s2033275Normal-000001"><span class="s2033275DefaultParagraphFont">No order approved after July 1, 2018, may require the payment of benefits to the alternate payee's estate after the death of the alternate payee. The amount paid in monthly benefits to the alternate payee shall be paid to the member after the death of the alternate payee.</span></p><p dir="ltr" class="s2033275Normal"><span xml:space="preserve" class="s2033275000002"> </span></p><p dir="ltr" class="s2033275Normal"><span class="s2033275SCL">Source:</span><span xml:space="preserve" class="s2033275SCL-000003"> SL 2018, ch 33, § 11; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-115.1"><span class="s2033275SCL-000003">3-12-115.1</span></a><span class="s2033275SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sf2d36ec48751435bb1f828ebc2915c7aNormal { 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.sf2d36ec48751435bb1f828ebc2915c7aSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf2d36ec48751435bb1f828ebc2915c7aCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sf2d36ec48751435bb1f828ebc2915c7aStatute { 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.sf2d36ec48751435bb1f828ebc2915c7aDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sf2d36ec48751435bb1f828ebc2915c7a000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sf2d36ec48751435bb1f828ebc2915c7aNoIndent { 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.sf2d36ec48751435bb1f828ebc2915c7aDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf2d36ec48751435bb1f828ebc2915c7aSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-217.1 - Domestic relations order--Beneficiary designated."><meta property="og:description" content="SDLRC Codified Law 3-12C-217.1 - Domestic relations order--Beneficiary designated."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-217.1"><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="sf2d36ec48751435bb1f828ebc2915c7aNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-217.1" rel="noopener"><span class="sf2d36ec48751435bb1f828ebc2915c7aSENU">3-12C-217.1</span></a><span xml:space="preserve" class="sf2d36ec48751435bb1f828ebc2915c7aSENU">. </span><span class="sf2d36ec48751435bb1f828ebc2915c7aCL">Domestic relations order--Beneficiary designated.</span></p><p dir="ltr" class="sf2d36ec48751435bb1f828ebc2915c7aStatute"><span xml:space="preserve" class="sf2d36ec48751435bb1f828ebc2915c7aDefaultParagraphFont">If a qualified domestic relations order provides that a member's former spouse must be treated as a beneficiary for any payment pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-409" rel="noopener"><span class="sf2d36ec48751435bb1f828ebc2915c7aDefaultParagraphFont">3-12C-409</span></a><span class="sf2d36ec48751435bb1f828ebc2915c7aDefaultParagraphFont">, the provision must supersede any contrary beneficiary designation by the member. The provision of the qualified domestic relations order and the member's beneficiary designation must be administered in a manner that gives full effect to the order and both proportional and equitable effect to the member's designation of any beneficiary.</span></p><p dir="ltr" class="sf2d36ec48751435bb1f828ebc2915c7aNormal"><span xml:space="preserve" class="sf2d36ec48751435bb1f828ebc2915c7a000000"> </span></p><p dir="ltr" class="sf2d36ec48751435bb1f828ebc2915c7aNoIndent"><span xml:space="preserve" class="sf2d36ec48751435bb1f828ebc2915c7aDefaultParagraphFont-000001">Source: </span><span class="sf2d36ec48751435bb1f828ebc2915c7aSCL">SL 2025, ch 27, § 20.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s92b30cc9aeaf4a9cafb8f4a564530a2bNormal { 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.s92b30cc9aeaf4a9cafb8f4a564530a2bSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s92b30cc9aeaf4a9cafb8f4a564530a2bCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s92b30cc9aeaf4a9cafb8f4a564530a2bStatute { 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.s92b30cc9aeaf4a9cafb8f4a564530a2bDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s92b30cc9aeaf4a9cafb8f4a564530a2b000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s92b30cc9aeaf4a9cafb8f4a564530a2bNoIndent { 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.s92b30cc9aeaf4a9cafb8f4a564530a2bDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s92b30cc9aeaf4a9cafb8f4a564530a2bSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-217.2 - Domestic relations orders--Prospective provisions--Errors."><meta property="og:description" content="SDLRC Codified Law 3-12C-217.2 - Domestic relations orders--Prospective provisions--Errors."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-217.2"><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="s92b30cc9aeaf4a9cafb8f4a564530a2bNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-217.2" rel="noopener"><span class="s92b30cc9aeaf4a9cafb8f4a564530a2bSENU">3-12C-217.2</span></a><span xml:space="preserve" class="s92b30cc9aeaf4a9cafb8f4a564530a2bSENU">. </span><span class="s92b30cc9aeaf4a9cafb8f4a564530a2bCL">Domestic relations orders--Prospective provisions--Errors.</span></p><p dir="ltr" class="s92b30cc9aeaf4a9cafb8f4a564530a2bStatute"><span class="s92b30cc9aeaf4a9cafb8f4a564530a2bDefaultParagraphFont">The provisions of a qualified domestic relations order are prospective from the date of the order. Any division of benefits paid prior to the date of the order, service of the order upon the system, or qualification of the order by the system, whichever is later, must be the responsibility of the parties to the order. The executive director may agree to adjust future payments to remedy an error in prior payments, if the error in prior payments involved the system.</span></p><p dir="ltr" class="s92b30cc9aeaf4a9cafb8f4a564530a2bNormal"><span xml:space="preserve" class="s92b30cc9aeaf4a9cafb8f4a564530a2b000000"> </span></p><p dir="ltr" class="s92b30cc9aeaf4a9cafb8f4a564530a2bNoIndent"><span xml:space="preserve" class="s92b30cc9aeaf4a9cafb8f4a564530a2bDefaultParagraphFont-000001">Source: </span><span class="s92b30cc9aeaf4a9cafb8f4a564530a2bSCL">SL 2025, ch 27, § 21.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s8f9b9db6a0fb4d968e8fb71f849a5c79Normal { 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.s8f9b9db6a0fb4d968e8fb71f849a5c79SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8f9b9db6a0fb4d968e8fb71f849a5c79CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s8f9b9db6a0fb4d968e8fb71f849a5c79Statute { 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.s8f9b9db6a0fb4d968e8fb71f849a5c79DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s8f9b9db6a0fb4d968e8fb71f849a5c79000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s8f9b9db6a0fb4d968e8fb71f849a5c79NoIndent { 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.s8f9b9db6a0fb4d968e8fb71f849a5c79DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8f9b9db6a0fb4d968e8fb71f849a5c79SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-217.3 - Domestic relations order--Independent surviving spouse benefit."><meta property="og:description" content="SDLRC Codified Law 3-12C-217.3 - Domestic relations order--Independent surviving spouse benefit."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-217.3"><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="s8f9b9db6a0fb4d968e8fb71f849a5c79Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-217.3" rel="noopener"><span class="s8f9b9db6a0fb4d968e8fb71f849a5c79SENU">3-12C-217.3</span></a><span xml:space="preserve" class="s8f9b9db6a0fb4d968e8fb71f849a5c79SENU">. </span><span class="s8f9b9db6a0fb4d968e8fb71f849a5c79CL">Domestic relations order--Independent surviving spouse benefit.</span></p><p dir="ltr" class="s8f9b9db6a0fb4d968e8fb71f849a5c79Statute"><span class="s8f9b9db6a0fb4d968e8fb71f849a5c79DefaultParagraphFont">The benefit to a surviving spouse upon the death of a member who had retired or reached normal retirement age is an independent benefit belonging to the surviving spouse for the purpose of administering an existing qualified domestic relations order.</span></p><p dir="ltr" class="s8f9b9db6a0fb4d968e8fb71f849a5c79Normal"><span xml:space="preserve" class="s8f9b9db6a0fb4d968e8fb71f849a5c79000000"> </span></p><p dir="ltr" class="s8f9b9db6a0fb4d968e8fb71f849a5c79NoIndent"><span xml:space="preserve" class="s8f9b9db6a0fb4d968e8fb71f849a5c79DefaultParagraphFont-000001">Source: </span><span class="s8f9b9db6a0fb4d968e8fb71f849a5c79SCL">SL 2025, ch 27, § 22.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033276Normal { 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.s2033276SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033276CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033276Normal-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.s2033276DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033276000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033276SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033276SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033276Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-218"><span class="s2033276SENU">3-12C-218</span></a><span xml:space="preserve" class="s2033276SENU">. </span><span class="s2033276CL">Business name of system--Treasurer.</span></p><p dir="ltr" class="s2033276Normal-000000"><span class="s2033276DefaultParagraphFont">The Board of Trustees shall transact all business and hold all cash in the name of the South Dakota Retirement System. The state treasurer shall be the treasurer of the system.</span></p><p dir="ltr" class="s2033276Normal"><span xml:space="preserve" class="s2033276000001"> </span></p><p dir="ltr" class="s2033276Normal"><span class="s2033276SCL">Source:</span><span xml:space="preserve" class="s2033276SCL-000002"> SL 1967, ch 303, § 3 (3); SDCL § 3-12-13; SL 1968, ch 216, § 1; SL 1974, ch 35, §§ 1, 17; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-60"><span class="s2033276SCL-000002">3-12-60</span></a><span class="s2033276SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033277Normal { 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.s2033277SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033277CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033277Normal-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.s2033277DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033277000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033277SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033277SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033277Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-219"><span class="s2033277SENU">3-12C-219</span></a><span xml:space="preserve" class="s2033277SENU">. </span><span class="s2033277CL">Use of fund restricted.</span></p><p dir="ltr" class="s2033277Normal-000000"><span class="s2033277DefaultParagraphFont">No part of the fund created by this chapter may be used for any purpose other than for the exclusive benefit of members and their beneficiaries, payment of reasonable administrative expenses of the system, and reimbursement of overpayments made by employers. No participating unit may receive any amounts from the fund except such amounts which may remain after the satisfaction of all liabilities of the system to its members.</span></p><p dir="ltr" class="s2033277Normal"><span xml:space="preserve" class="s2033277000001"> </span></p><p dir="ltr" class="s2033277Normal"><span class="s2033277SCL">Source:</span><span xml:space="preserve" class="s2033277SCL-000002"> SL 1984, ch 23, § 3; SL 2012, ch 26, § 10; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-72.1"><span class="s2033277SCL-000002">3-12-72.1</span></a><span class="s2033277SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033278Normal { 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.s2033278SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033278CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033278Normal-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.s2033278DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033278000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033278SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033278SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033278Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-220"><span class="s2033278SENU">3-12C-220</span></a><span xml:space="preserve" class="s2033278SENU">. </span><span class="s2033278CL">Diversion of funds prohibited--Legislative policy.</span></p><p dir="ltr" class="s2033278Normal-000000"><span class="s2033278DefaultParagraphFont">In order to ensure employee confidence in the preservation and management of the South Dakota Retirement System, it is legislative policy that there should be no legislative enactment nor administrative action which would have the effect, directly or indirectly, of diverting any funds of the system to any purpose other than the administration and support of the benefits of members of the system.</span></p><p dir="ltr" class="s2033278Normal"><span xml:space="preserve" class="s2033278000001"> </span></p><p dir="ltr" class="s2033278Normal"><span class="s2033278SCL">Source:</span><span xml:space="preserve" class="s2033278SCL-000002"> SL 1990, ch 34; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-72.3"><span class="s2033278SCL-000002">3-12-72.3</span></a><span class="s2033278SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033279Normal { 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.s2033279SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033279CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033279Normal-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.s2033279DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033279000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033279SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033279SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033279Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-221"><span class="s2033279SENU">3-12C-221</span></a><span xml:space="preserve" class="s2033279SENU">. </span><span class="s2033279CL">Rights of members on termination of system or discontinuance of contributions.</span></p><p dir="ltr" class="s2033279Normal-000000"><span class="s2033279DefaultParagraphFont">If the system is terminated, or if contributions to the system are discontinued, the rights of all members to benefits that have accrued as of the date of termination or discontinuation of contributions shall vest. A member's recourse against the fund shall be limited by the extent to which the member's benefits are funded.</span></p><p dir="ltr" class="s2033279Normal"><span xml:space="preserve" class="s2033279000001"> </span></p><p dir="ltr" class="s2033279Normal"><span class="s2033279SCL">Source:</span><span xml:space="preserve" class="s2033279SCL-000002"> SL 1984, ch 23, § 4; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-72.2"><span class="s2033279SCL-000002">3-12-72.2</span></a><span class="s2033279SCL-000002">; SL 2019, ch 22, §§ 13, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033280Normal { 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.s2033280SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033280CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033280Normal-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.s2033280DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033280000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033280SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033280SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033280Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-222"><span class="s2033280SENU">3-12C-222</span></a><span xml:space="preserve" class="s2033280SENU">. </span><span class="s2033280CL">Application of forfeitures.</span></p><p dir="ltr" class="s2033280Normal-000000"><span class="s2033280DefaultParagraphFont">Forfeitures arising because of termination of employment before the member becomes eligible for benefits or for any other reason shall be applied to reduce the costs of the system and not to increase the benefits otherwise payable to members.</span></p><p dir="ltr" class="s2033280Normal"><span xml:space="preserve" class="s2033280000001"> </span></p><p dir="ltr" class="s2033280Normal"><span class="s2033280SCL">Source:</span><span xml:space="preserve" class="s2033280SCL-000002"> SL 1984, ch 23, § 5; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-76.2"><span class="s2033280SCL-000002">3-12-76.2</span></a><span class="s2033280SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.s2080007Normal { 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.s2080007SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080007CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080007DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080007000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2080007NoIndent { 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.s2080007DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080007SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="s2080007Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-223"> <span class="s2080007SENU">3-12C-223</span> </a> <span xml:space="preserve" class="s2080007SENU">. </span> <span class="s2080007CL">Investment of assets by investment council--Pooling of funds--Standards for investment--Compliance with federal divestiture enactments.</span> </p> <p dir="ltr" class="s2080007Normal"> <span xml:space="preserve" class="s2080007DefaultParagraphFont">The State Investment Council as provided in § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=4-5-12"> <span class="s2080007DefaultParagraphFont">4-5-12</span> </a> <span xml:space="preserve" class="s2080007DefaultParagraphFont"> is responsible for the investment of the assets of the system. The Investment Council may pool the several retirement funds for investment purposes and the investment of the funds is not restricted by the provisions of § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=4-5-26"> <span class="s2080007DefaultParagraphFont">4-5-26</span> </a> <span xml:space="preserve" class="s2080007DefaultParagraphFont">, but is governed by the provisions of § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=4-5-27"> <span class="s2080007DefaultParagraphFont">4-5-27</span> </a> <span class="s2080007DefaultParagraphFont">. The assets of the system may not be managed in any manner for the purposes of social investment. The State Investment Council shall invest member trust funds in a manner that is solely designed to provide for the exclusive benefit of the members and benefit recipients of the system. The foregoing provisions notwithstanding, the State Investment Council shall establish a shareholder activism policy to engage and promote compliance with federal divestiture enactments by the United States Congress and to recognize the risks associated with companies doing business in the countries identified. Once the United States Congress has acted, the State Investment Council may initiate the shareholder activism policy on its own accord, or shall do so at the direction of the Legislature by resolution. The State Investment Council shall report semi-annually on council actions related to the shareholder activism policy. The report shall include an analysis of the success of the policy in accomplishing the goal of promoting compliance with the federal enactments and its impact on all sales of affected companies.</span> </p> <p dir="ltr" class="s2080007Normal"> <span xml:space="preserve" class="s2080007000000"> </span> </p> <p dir="ltr" class="s2080007NoIndent"> <span xml:space="preserve" class="s2080007DefaultParagraphFont-000001">Source: </span> <span xml:space="preserve" class="s2080007SCL">SL 1974, ch 35, § 71; SL 1989, ch 39; SL 2010, ch 21, § 3; SDCL § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-117"> <span class="s2080007SCL">3-12-117</span> </a> <span class="s2080007SCL">; SL 2019, ch 22, § 1; SL 2020, ch 12, § 4.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033282Normal { 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.s2033282SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033282CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033282Normal-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.s2033282DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033282000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033282SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033282SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033282Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-224"><span class="s2033282SENU">3-12C-224</span></a><span xml:space="preserve" class="s2033282SENU">. </span><span class="s2033282CL">Quadrennial independent report on investment performance.</span></p><p dir="ltr" class="s2033282Normal-000000"><span class="s2033282DefaultParagraphFont">The board shall retain the services of an independent contractor, not involved in the investment process, to make a report to the board not less than every four years on the investment performance results of the assets of the retirement funds.</span></p><p dir="ltr" class="s2033282Normal"><span xml:space="preserve" class="s2033282000001"> </span></p><p dir="ltr" class="s2033282Normal"><span class="s2033282SCL">Source:</span><span xml:space="preserve" class="s2033282SCL-000002"> SL 1974, ch 35, § 72; SL 2016, ch 31, § 25; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-118"><span class="s2033282SCL-000002">3-12-118</span></a><span class="s2033282SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033283Normal { 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.s2033283SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033283CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033283Normal-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.s2033283DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033283000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033283SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033283SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033283Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-225"><span class="s2033283SENU">3-12C-225</span></a><span xml:space="preserve" class="s2033283SENU">. </span><span class="s2033283CL">Review of investment policy when return lower than average--Report to Governor and Legislature.</span></p><p dir="ltr" class="s2033283Normal-000000"><span class="s2033283DefaultParagraphFont">In the event the investment return on the common stock portfolio or bond portfolio is lower than the average return achieved by other institutional investors of pension funds, then the Investment Council shall review the way in which the assets are being invested and the sources of investment advice being utilized to determine what changes, if any, are desirable to produce an investment return equal to or greater than the average, and shall make a report to the Governor and the Legislature on the investment performance results and any changes necessary to improve the investment return.</span></p><p dir="ltr" class="s2033283Normal"><span xml:space="preserve" class="s2033283000001"> </span></p><p dir="ltr" class="s2033283Normal"><span class="s2033283SCL">Source:</span><span xml:space="preserve" class="s2033283SCL-000002"> SL 1974, ch 35, § 73; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-119"><span class="s2033283SCL-000002">3-12-119</span></a><span class="s2033283SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2d6ddb9b6c274b37904f45924f0ba255Normal { 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.s2d6ddb9b6c274b37904f45924f0ba255SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2d6ddb9b6c274b37904f45924f0ba255CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2d6ddb9b6c274b37904f45924f0ba255Statute { 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.s2d6ddb9b6c274b37904f45924f0ba255DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2d6ddb9b6c274b37904f45924f0ba255StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2d6ddb9b6c274b37904f45924f0ba255000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2d6ddb9b6c274b37904f45924f0ba255NoIndent { 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.s2d6ddb9b6c274b37904f45924f0ba255DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2d6ddb9b6c274b37904f45924f0ba255SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-226 - System annual actuarial valuation--Scope--Actuarial value funded ratio defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-226 - System annual actuarial valuation--Scope--Actuarial value funded ratio defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-226"><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="s2d6ddb9b6c274b37904f45924f0ba255Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-226" rel="noopener"><span class="s2d6ddb9b6c274b37904f45924f0ba255SENU">3-12C-226</span></a><span xml:space="preserve" class="s2d6ddb9b6c274b37904f45924f0ba255SENU">. </span><span class="s2d6ddb9b6c274b37904f45924f0ba255CL">System annual actuarial valuation--Scope--Actuarial value funded ratio defined.</span></p><p dir="ltr" class="s2d6ddb9b6c274b37904f45924f0ba255Statute"><span class="s2d6ddb9b6c274b37904f45924f0ba255DefaultParagraphFont">To determine and verify the adequacy of any member and employer contributions to the system, an actuarial valuation of the system must be made annually by an approved actuary.</span></p><p dir="ltr" class="s2d6ddb9b6c274b37904f45924f0ba255Statute"><span class="s2d6ddb9b6c274b37904f45924f0ba255DefaultParagraphFont">The actuarial valuation must provide:</span></p><p dir="ltr" class="s2d6ddb9b6c274b37904f45924f0ba255StatuteNumber1"><span class="s2d6ddb9b6c274b37904f45924f0ba255DefaultParagraphFont">(1)    A demonstration of the relationship of any current member and employer contributions, expressed as a percentage of payroll, to the minimum actuarial requirement to support benefits; and</span></p><p dir="ltr" class="s2d6ddb9b6c274b37904f45924f0ba255StatuteNumber1"><span class="s2d6ddb9b6c274b37904f45924f0ba255DefaultParagraphFont">(2)    The current year's actuarial value funded ratio and fair value funded ratio, as well as the ratios from the prior actuarial valuations.</span></p><p dir="ltr" class="s2d6ddb9b6c274b37904f45924f0ba255Statute"><span class="s2d6ddb9b6c274b37904f45924f0ba255DefaultParagraphFont">For purposes of this section, "actuarial value funded ratio" means the actuarial value of assets divided by the actuarial accrued liability.</span></p><p dir="ltr" class="s2d6ddb9b6c274b37904f45924f0ba255Normal"><span xml:space="preserve" class="s2d6ddb9b6c274b37904f45924f0ba255000000"> </span></p><p dir="ltr" class="s2d6ddb9b6c274b37904f45924f0ba255NoIndent"><span xml:space="preserve" class="s2d6ddb9b6c274b37904f45924f0ba255DefaultParagraphFont-000001">Source: </span><span class="s2d6ddb9b6c274b37904f45924f0ba255SCL">SL 1974, ch 35, § 74; SL 1996, ch 27; SL 2004, ch 42, § 13; SL 2018, ch 33, § 12; SDCL § 3-12-120; SL 2019, ch 22, §§ 14, 45; SL 2025, ch 27, § 23.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s9c49bf6247274f7e9adeea7f695fac87Normal { 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.s9c49bf6247274f7e9adeea7f695fac87SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9c49bf6247274f7e9adeea7f695fac87CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s9c49bf6247274f7e9adeea7f695fac87Statute { 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.s9c49bf6247274f7e9adeea7f695fac87DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s9c49bf6247274f7e9adeea7f695fac87000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s9c49bf6247274f7e9adeea7f695fac87NoIndent { 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.s9c49bf6247274f7e9adeea7f695fac87DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9c49bf6247274f7e9adeea7f695fac87SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-227 - System annual actuarial valuation--Basis--Report of change."><meta property="og:description" content="SDLRC Codified Law 3-12C-227 - System annual actuarial valuation--Basis--Report of change."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-227"><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="s9c49bf6247274f7e9adeea7f695fac87Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-227" rel="noopener"><span class="s9c49bf6247274f7e9adeea7f695fac87SENU">3-12C-227</span></a><span xml:space="preserve" class="s9c49bf6247274f7e9adeea7f695fac87SENU">. </span><span class="s9c49bf6247274f7e9adeea7f695fac87CL">System annual actuarial valuation--Basis--Report of change.</span></p><p dir="ltr" class="s9c49bf6247274f7e9adeea7f695fac87Statute"><span xml:space="preserve" class="s9c49bf6247274f7e9adeea7f695fac87DefaultParagraphFont">The actuarial valuation required by § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-226" rel="noopener"><span class="s9c49bf6247274f7e9adeea7f695fac87DefaultParagraphFont">3-12C-226</span></a><span class="s9c49bf6247274f7e9adeea7f695fac87DefaultParagraphFont">, must be based on actuarial assumptions adopted by the board, as a result of an actuarial experience analysis. The board may not make any change in the actuarial assumptions unless the approved actuary retained to make the actuarial valuation certifies that the change is reasonable. If the board makes a change, the board must report the change to the Governor and to the Retirement Laws Committee. The report must include the actuary's and board's analysis of the conditions that led to the change.</span></p><p dir="ltr" class="s9c49bf6247274f7e9adeea7f695fac87Normal"><span xml:space="preserve" class="s9c49bf6247274f7e9adeea7f695fac87000000"> </span></p><p dir="ltr" class="s9c49bf6247274f7e9adeea7f695fac87NoIndent"><span xml:space="preserve" class="s9c49bf6247274f7e9adeea7f695fac87DefaultParagraphFont-000001">Source: </span><span class="s9c49bf6247274f7e9adeea7f695fac87SCL">SL 1974, ch 35, § 76; SL 1980, ch 31, § 2; SL 2004, ch 42, § 2; SDCL § 3-12-121; SL 2019, ch 22, § 1; SL 2025, ch 27, § 24.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079918Normal { 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.s2079918SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079918CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079918Statute { 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.s2079918DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2079918StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2079918Statute-000000 { text-indent: 0.25in; 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.s2079918000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079918DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079918SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2079918Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-228"><span class="s2079918SENU">3-12C-228</span></a><span xml:space="preserve" class="s2079918SENU">. </span><span class="s2079918CL">Funding of system--Review--Report--Corrective action.</span></p><p dir="ltr" class="s2079918Statute"><span class="s2079918DefaultParagraphFont">The board shall review the funding of the system and shall make a report to the Governor and the Retirement Laws Committee if the funding of the system does not meet both of the following conditions:</span></p><p dir="ltr" class="s2079918StatuteNumber1"><span class="s2079918DefaultParagraphFont">(1)    The fair value funded ratio is greater than or equal to one hundred percent; and</span></p><p dir="ltr" class="s2079918StatuteNumber1"><span class="s2079918DefaultParagraphFont">(2)    The contribution rate meets or exceeds the minimum actuarial requirement to support benefits.</span></p><p dir="ltr" class="s2079918Statute-000000"><span class="s2079918DefaultParagraphFont">The report shall include recommendations for the circumstances and timing for any corrective action, including benefit changes, to improve the conditions in subdivisions (1) and (2). For Class D members, corrective action is limited to reducing or eliminating the cost of living adjustment. Based on this report and the recommendations of the board, the Legislature may adopt corrective action to improve the conditions in subdivisions (1) and (2).</span></p><p dir="ltr" class="s2079918Statute-000000"><span class="s2079918DefaultParagraphFont">Eligibility for benefits, the amount of any benefit, and the rate of member contributions established in this chapter are not the contractual rights of any member and are subject to change by the Legislature for purposes of corrective action to improve the conditions in subdivisions (1) and (2).</span></p><p dir="ltr" class="s2079918Normal"><span xml:space="preserve" class="s2079918000001"> </span></p><p dir="ltr" class="s2079918Normal"><span xml:space="preserve" class="s2079918DefaultParagraphFont-000002">Source: </span><span class="s2079918SCL">SL 1974, ch 35, § 75; SL 1986, ch 37, § 12; SL 2004, ch 42, § 1; SL 2008, ch 20, § 15; SL 2013, ch 21, § 1; SL 2016, ch 31, § 26; SL 2017, ch 27, § 2; SL 2018, ch 33, § 14; SDCL § 3-12-122; SL 2019, ch 22, § 1; SL 2020, ch 13, § 4.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033287Normal { 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.s2033287SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033287CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033287Normal-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.s2033287DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033287000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033287SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033287SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033287Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-229"><span class="s2033287SENU">3-12C-229</span></a><span xml:space="preserve" class="s2033287SENU">. </span><span class="s2033287CL">Annual report of funded status of system.</span></p><p dir="ltr" class="s2033287Normal-000000"><span class="s2033287DefaultParagraphFont">At the beginning of each legislative session, the board shall provide the Governor and the Legislature with an annual report of the funded status of the system for the fiscal year that ended the previous June thirtieth.</span></p><p dir="ltr" class="s2033287Normal"><span xml:space="preserve" class="s2033287000001"> </span></p><p dir="ltr" class="s2033287Normal"><span class="s2033287SCL">Source:</span><span xml:space="preserve" class="s2033287SCL-000002"> SL 2017, ch 27, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-122.1"><span class="s2033287SCL-000002">3-12-122.1</span></a><span class="s2033287SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033288Normal { 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.s2033288SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033288CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033288Normal-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.s2033288DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033288000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033288SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033288SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033288Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-230"><span class="s2033288SENU">3-12C-230</span></a><span xml:space="preserve" class="s2033288SENU">. </span><span class="s2033288CL">Record of board proceedings--Annual report .</span></p><p dir="ltr" class="s2033288Normal-000000"><span class="s2033288DefaultParagraphFont">The board shall keep complete records of its proceedings which shall be open to public inspection. The board shall prepare an annual report setting forth its financial information for the previous fiscal period including the amount of the accumulated cash and securities of the system, and the results of the most recent actuarial valuation. A copy of the report shall be available on the system's website.</span></p><p dir="ltr" class="s2033288Normal"><span xml:space="preserve" class="s2033288000001"> </span></p><p dir="ltr" class="s2033288Normal"><span class="s2033288SCL">Source:</span><span xml:space="preserve" class="s2033288SCL-000002"> SL 1967, ch 303, § 3 (11); SDCL § 3-12-12; SL 1968, ch 216, § 1; SL 1974, ch 35, § 16; SL 1977, ch 28, § 5; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-59"><span class="s2033288SCL-000002">3-12-59</span></a><span class="s2033288SCL-000002">; SL 2019, ch 22, §§ 10, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083199Normal { 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.s2083199SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083199CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083199Statute { 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.s2083199DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083199StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } a.s2083199000000 { text-decoration: none; } span.s2083199000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083199NoIndent { 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.s2083199DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083199SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083199Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-301"><span class="s2083199SENU">3-12C-301</span></a><span xml:space="preserve" class="s2083199SENU">. </span><span xml:space="preserve" class="s2083199CL">Members of system. </span></p><p dir="ltr" class="s2083199Statute"><span class="s2083199DefaultParagraphFont">All of the following full-time employees are included as members in the system:</span></p><p dir="ltr" class="s2083199StatuteNumber1"><span class="s2083199DefaultParagraphFont">(1)    All state employees;</span></p><p dir="ltr" class="s2083199StatuteNumber1"><span class="s2083199DefaultParagraphFont">(2)    All certified school employees;</span></p><p dir="ltr" class="s2083199StatuteNumber1"><span class="s2083199DefaultParagraphFont">(3)    All justices, judges, and magistrate judges;</span></p><p dir="ltr" class="s2083199StatuteNumber1"><span class="s2083199DefaultParagraphFont">(4)    All police officers and firefighters of participating municipalities;</span></p><p dir="ltr" class="s2083199StatuteNumber1"><a id="_pagenumber11" class="s2083199000000"></a><span class="s2083199DefaultParagraphFont">(5)    All general employees of participating municipalities;</span></p><p dir="ltr" class="s2083199StatuteNumber1"><span class="s2083199DefaultParagraphFont">(6)    All employees of participating counties;</span></p><p dir="ltr" class="s2083199StatuteNumber1"><span class="s2083199DefaultParagraphFont">(7)    All classified employees of school districts that are participating with the school districts' classified employees and all other classified employees;</span></p><p dir="ltr" class="s2083199StatuteNumber1"><span class="s2083199DefaultParagraphFont">(8)    All employees of the Board of Regents; and</span></p><p dir="ltr" class="s2083199StatuteNumber1"><span class="s2083199DefaultParagraphFont">(9)    All state law enforcement officers.</span></p><p dir="ltr" class="s2083199Normal"><span xml:space="preserve" class="s2083199000001"> </span></p><p dir="ltr" class="s2083199NoIndent"><span xml:space="preserve" class="s2083199DefaultParagraphFont-000002">Source: </span><span xml:space="preserve" class="s2083199SCL">SL 1957, ch 142, § 8; SL 1959, ch 84, § 15; SDC Supp 1960, §§ 15.3919 (1), 44.06A08; SL 1961, ch 255, § 17; SL 1963, ch 86, § 1; SL 1965, ch 220, § 13; SL 1967, ch 303, § 4; SDCL §§ 3-12-19, 3-13-12, 9-15-25, 9-15-26, 13-45-21; SL 1968, ch 56, § 1; SL 1968, ch 216, § 1; SDCL Supp, § 3-12-19.2; SL 1974, ch 35, § 19; SL 1975, ch 38, § 8; SL 1976, ch 39, § 7; SL 1981, ch 13, § 1; SL 2012, ch 26, § 8; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62"><span class="s2083199SCL">3-12-62</span></a><span class="s2083199SCL">; SL 2019, ch 22, § 1; SL 2020, ch 12, § 5; SL 2021, ch 29, § 9, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083200Normal { 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.s2083200SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083200CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083200Statute { 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.s2083200DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083200StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2083200000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083200NoIndent { 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.s2083200DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083200SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083200Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-302"><span class="s2083200SENU">3-12C-302</span></a><span xml:space="preserve" class="s2083200SENU">. </span><span xml:space="preserve" class="s2083200CL">Membership in system--Exclusions. </span></p><p dir="ltr" class="s2083200Statute"><span class="s2083200DefaultParagraphFont">Membership in the system shall exclude the following:</span></p><p dir="ltr" class="s2083200StatuteNumber1"><span class="s2083200DefaultParagraphFont">(1)    All elective officials except justices and judges, unless the official is currently contributing or has previously contributed to the system or the official has elected and is otherwise qualified to become a member of the system;</span></p><p dir="ltr" class="s2083200StatuteNumber1"><span class="s2083200DefaultParagraphFont">(2)    The governing body of any participating county, municipality, or other political subdivision; and</span></p><p dir="ltr" class="s2083200StatuteNumber1"><span class="s2083200DefaultParagraphFont">(3)    All personnel employed by the municipality of Sioux Falls before July 1, 2013. However, any person employed before July 1, 2013, who separates from service with the municipality of Sioux Falls and is subsequently rehired by the municipality of Sioux Falls and begins working after June 30, 2013, as a full-time employee shall be a member of the system.</span></p><p dir="ltr" class="s2083200Normal"><span xml:space="preserve" class="s2083200000000"> </span></p><p dir="ltr" class="s2083200NoIndent"><span xml:space="preserve" class="s2083200DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083200SCL">SL 1967, ch 303, § 4; SDCL § 3-12-20; SL 1968, ch 216, § 1; SDCL Supp, § 3-12-20.1; SL 1973, ch 24, § 3; SL 1974, ch 35, § 20; SL 1975, ch 38, § 9; SL 1975, ch 39, § 4; SL 1976, ch 39, § 6; SL 1977, ch 30, § 1; SL 1980, ch 33, § 1; SL 2011, ch 1 (Ex. Ord. </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-1"><span class="s2083200SCL">11-1</span></a><span xml:space="preserve" class="s2083200SCL">), § 33, eff. Apr. 12, 2011; SL 2013, ch 19, § 2; SL 2015, ch 25, § 4; SL 2016, ch 31, § 7; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-63"><span class="s2083200SCL">3-12-63</span></a><span class="s2083200SCL">; SL 2019, ch 22, § 1; SL 2019, ch 23, § 3; SL 2020, ch 13, § 5; SL 2021, ch 29, § 10, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083201Normal { 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.s2083201SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083201CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083201Statute { 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.s2083201DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083201000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083201NoIndent { 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.s2083201DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083201SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083201Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-303"><span class="s2083201SENU">3-12C-303</span></a><span xml:space="preserve" class="s2083201SENU">. </span><span xml:space="preserve" class="s2083201CL">Newly elected officials permitted to join system--Requirements--Credited service. </span></p><p dir="ltr" class="s2083201Statute"><span class="s2083201DefaultParagraphFont">A newly-elected official, who is a full-time employee of a participating unit and not a member of the system, may elect to become a member. However, the official shall make the election when the official is first eligible to participate in the system, and the official's election is irrevocable for as long as the official is an elected official. If the official is a current contributing member or has previously contributed to the system, the elected official shall participate in the system. If an elected official has elected not to participate in the system, the official is not eligible to make a new election. The official's credited service is limited to service for which contributions are made.</span></p><p dir="ltr" class="s2083201Normal"><span xml:space="preserve" class="s2083201000000"> </span></p><p dir="ltr" class="s2083201NoIndent"><span xml:space="preserve" class="s2083201DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083201SCL">SL 1967, ch 303, § 4; SDCL § 3-12-21; SL 1968, ch 216, § 1; SL 1970, ch 25, § 3; SL 1974, ch 35, § 21; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-64"><span class="s2083201SCL">3-12-64</span></a><span class="s2083201SCL">; SL 2019, ch 22, § 1; SL 2019, ch 23, § 2; SL 2021, ch 29, § 11, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.s2080009Normal { 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.s2080009SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080009CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080009DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080009000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2080009NoIndent { 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.s2080009DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080009SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="s2080009Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-304"> <span class="s2080009SENU">3-12C-304</span> </a> <span xml:space="preserve" class="s2080009SENU">. </span> <span class="s2080009CL">Continuation of previously established retirement plan--Vote of employees required to participate in consolidated system.</span> </p> <p dir="ltr" class="s2080009Normal"> <span xml:space="preserve" class="s2080009DefaultParagraphFont">Any political subdivision or public corporation may operate a retirement plan created prior to July 1, 1974, unless the retirement plan of the political subdivision or public corporation is accepted in the system created by this chapter. Notwithstanding the provisions of this section and § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-306"> <span class="s2080009DefaultParagraphFont">3-12C-306</span> </a> <span class="s2080009DefaultParagraphFont">, no political subdivision or public corporation with a retirement plan may be accepted as a participating unit unless two-thirds of the members of the retirement plan vote to become members of the system created by this chapter.</span> </p> <p dir="ltr" class="s2080009Normal"> <span xml:space="preserve" class="s2080009000000"> </span> </p> <p dir="ltr" class="s2080009NoIndent"> <span xml:space="preserve" class="s2080009DefaultParagraphFont-000001">Source: </span> <span xml:space="preserve" class="s2080009SCL">SL 1974, ch 35, § 23; SDCL § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-65"> <span class="s2080009SCL">3-12-65</span> </a> <span class="s2080009SCL">; SL 2019, ch 22, § 1; SL 2020, ch 12, § 6.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033293Normal { 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.s2033293SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033293CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033293Normal-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.s2033293DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033293000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033293SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033293SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033293Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-305"><span class="s2033293SENU">3-12C-305</span></a><span xml:space="preserve" class="s2033293SENU">. </span><span class="s2033293CL">Newly established retirement plans of political subdivisions and public corporations to participate in consolidated system.</span></p><p dir="ltr" class="s2033293Normal-000000"><span class="s2033293DefaultParagraphFont">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.</span></p><p dir="ltr" class="s2033293Normal"><span xml:space="preserve" class="s2033293000001"> </span></p><p dir="ltr" class="s2033293Normal"><span class="s2033293SCL">Source:</span><span xml:space="preserve" class="s2033293SCL-000002"> SL 1974, ch 35, § 24; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-66"><span class="s2033293SCL-000002">3-12-66</span></a><span class="s2033293SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083202Normal { 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.s2083202SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083202CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083202Statute { 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.s2083202DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083202000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083202NoIndent { 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.s2083202DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083202SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083202Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-306"><span class="s2083202SENU">3-12C-306</span></a><span xml:space="preserve" class="s2083202SENU">. </span><span xml:space="preserve" class="s2083202CL">Election by political subdivision or public corporation to participate in consolidated system. </span></p><p dir="ltr" class="s2083202Statute"><span class="s2083202DefaultParagraphFont">Any political subdivision and any public corporation, including municipalities, counties and chartered governmental units in the State of South Dakota, may become a participating unit by a duly passed resolution of its governing body. Any political subdivision not participating in the system on June 30, 1985, may become a participating unit for only its class A members or only its class B members, or for both classes together. If a political subdivision elects to participate for either one class of members or for both classes, all full-time employees in that class or classes shall become members.</span></p><p dir="ltr" class="s2083202Normal"><span xml:space="preserve" class="s2083202000000"> </span></p><p dir="ltr" class="s2083202NoIndent"><span xml:space="preserve" class="s2083202DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083202SCL">SL 1961, ch 255, § 16; SL 1965, ch 220, § 12; SL 1967, ch 303, § 10; SDCL §§ 3-12-36, 9-15-24; SL 1968, ch 216, § 1; SL 1974, ch 35, § 25; SL 1985, ch 25; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-67"><span class="s2083202SCL">3-12-67</span></a><span class="s2083202SCL">; SL 2019, ch 22, § 1; SL 2021, ch 29, § 12, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033295Normal { 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.s2033295SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033295CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033295Normal-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.s2033295DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033295000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033295SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033295SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033295Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-307"><span class="s2033295SENU">3-12C-307</span></a><span xml:space="preserve" class="s2033295SENU">. </span><span class="s2033295CL">Coverage of joint employees of participating and nonparticipating political subdivisions.</span></p><p dir="ltr" class="s2033295Normal-000000"><span class="s2033295DefaultParagraphFont">If a participating unit and a nonparticipating South Dakota political subdivision or public corporation agree to provide certain public services on a joint basis, they may agree to consider persons employed pursuant to the agreement as if they were solely employees of the participating unit for the exclusive purposes of the system created in this chapter. The total compensation paid a person because of the employment shall be considered compensation paid by the participating unit and services rendered by the person because of the employment shall be considered service rendered by the employee to the participating unit.</span></p><p dir="ltr" class="s2033295Normal"><span xml:space="preserve" class="s2033295000001"> </span></p><p dir="ltr" class="s2033295Normal"><span class="s2033295SCL">Source:</span><span xml:space="preserve" class="s2033295SCL-000002"> SL 1973, ch 51, § 1; SDCL Supp, § 9-15-25.1; SL 1974, ch 35, § 26; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-68"><span class="s2033295SCL-000002">3-12-68</span></a><span class="s2033295SCL-000002">; SL 2019, ch 22, §§ 15, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sc51ecab3d6ec45029226e3b8e35f3c4fNormal { 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.sc51ecab3d6ec45029226e3b8e35f3c4fSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc51ecab3d6ec45029226e3b8e35f3c4fCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sc51ecab3d6ec45029226e3b8e35f3c4fStatute { 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.sc51ecab3d6ec45029226e3b8e35f3c4fDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc51ecab3d6ec45029226e3b8e35f3c4fStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sc51ecab3d6ec45029226e3b8e35f3c4f000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc51ecab3d6ec45029226e3b8e35f3c4fNoIndent { 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.sc51ecab3d6ec45029226e3b8e35f3c4fDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc51ecab3d6ec45029226e3b8e35f3c4fSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-308 - Political subdivision or public corporation joining system--Accrued benefit deposit required--Participation by employees--Deferred payment of deposit--Present value of benefits earned to date defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-308 - Political subdivision or public corporation joining system--Accrued benefit deposit required--Participation by employees--Deferred payment of deposit--Present value of benefits earned to date defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-308"><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="sc51ecab3d6ec45029226e3b8e35f3c4fNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-308" rel="noopener"><span class="sc51ecab3d6ec45029226e3b8e35f3c4fSENU">3-12C-308</span></a><span xml:space="preserve" class="sc51ecab3d6ec45029226e3b8e35f3c4fSENU">. </span><span class="sc51ecab3d6ec45029226e3b8e35f3c4fCL">Political subdivision or public corporation joining system--Accrued benefit deposit required--Participation by employees--Deferred payment of deposit--Present value of benefits earned to date defined.</span></p><p dir="ltr" class="sc51ecab3d6ec45029226e3b8e35f3c4fStatute"><span class="sc51ecab3d6ec45029226e3b8e35f3c4fDefaultParagraphFont">Employees of an eligible political subdivision or public corporation not participating in the systems consolidated into the system created by this chapter, may become a participating unit in the system if the unit commits to deposit an amount equal to the present value of benefits earned to date, based on the employee's prior service to the unit to be covered by the system. The expense of the actuarial determination of this amount must be borne by the applicant. All eligible employees of an applicant shall participate in the system upon admission. If the unit is unable to deposit this amount in a single sum, the unit must have the option to pay the amount by periodic level installments over a period up to twenty years, the value of which, when discounted for compound interest at the assumed rate of return, is equal to the amount due at the date of participation.</span></p><p dir="ltr" class="sc51ecab3d6ec45029226e3b8e35f3c4fStatute"><span class="sc51ecab3d6ec45029226e3b8e35f3c4fDefaultParagraphFont">For purposes of this section, "present value of benefits earned to date" means:</span></p><p dir="ltr" class="sc51ecab3d6ec45029226e3b8e35f3c4fStatuteNumber1"><span class="sc51ecab3d6ec45029226e3b8e35f3c4fDefaultParagraphFont">(1)    The present value of the benefits currently being paid to retired members, if included, and the retired members' beneficiaries;</span></p><p dir="ltr" class="sc51ecab3d6ec45029226e3b8e35f3c4fStatuteNumber1"><span class="sc51ecab3d6ec45029226e3b8e35f3c4fDefaultParagraphFont">(2)    The present value of the benefits payable to terminated members; and</span></p><p dir="ltr" class="sc51ecab3d6ec45029226e3b8e35f3c4fStatuteNumber1"><span class="sc51ecab3d6ec45029226e3b8e35f3c4fDefaultParagraphFont">(3)    The actuarial accrued liability of active members, based on the actuarial assumptions and methods used in the actuarial valuation.</span></p><p dir="ltr" class="sc51ecab3d6ec45029226e3b8e35f3c4fNormal"><span xml:space="preserve" class="sc51ecab3d6ec45029226e3b8e35f3c4f000000"> </span></p><p dir="ltr" class="sc51ecab3d6ec45029226e3b8e35f3c4fNoIndent"><span xml:space="preserve" class="sc51ecab3d6ec45029226e3b8e35f3c4fDefaultParagraphFont-000001">Source: </span><span class="sc51ecab3d6ec45029226e3b8e35f3c4fSCL">SL 1967, ch 303, § 10; SDCL § 3-12-36; SL 1968, ch 216, § 1; SL 1974, ch 35, § 27; SL 2004, ch 42, § 12; SL 2016, ch 31, § 9; SDCL § 3-12-69; SL 2019, ch 22, §§ 43, 45; SL 2025, ch 27, § 25.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033297Normal { 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.s2033297SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033297CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033297Normal-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.s2033297DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033297000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033297SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033297SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033297Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-309"><span class="s2033297SENU">3-12C-309</span></a><span xml:space="preserve" class="s2033297SENU">. </span><span class="s2033297CL">Effective date of participation of employees of participating unit.</span></p><p dir="ltr" class="s2033297Normal-000000"><span class="s2033297DefaultParagraphFont">The date when the participation of the employees of a participating unit may commence shall be at the beginning of the first month of a calendar quarter.</span></p><p dir="ltr" class="s2033297Normal"><span xml:space="preserve" class="s2033297000001"> </span></p><p dir="ltr" class="s2033297Normal"><span class="s2033297SCL">Source:</span><span xml:space="preserve" class="s2033297SCL-000002"> SL 1967, ch 303, § 10; SDCL § 3-12-37; SL 1968, ch 216, § 1; SL 1974, ch 35, § 28; SL 2009, ch 20, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-70"><span class="s2033297SCL-000002">3-12-70</span></a><span class="s2033297SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s83513a8ae8d2416893471a8d0febaec5Normal { 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.s83513a8ae8d2416893471a8d0febaec5SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s83513a8ae8d2416893471a8d0febaec5CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s83513a8ae8d2416893471a8d0febaec5Statute { 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.s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s83513a8ae8d2416893471a8d0febaec5000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s83513a8ae8d2416893471a8d0febaec5NoIndent { 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.s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s83513a8ae8d2416893471a8d0febaec5SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-310 - Privatization of governmental function."><meta property="og:description" content="SDLRC Codified Law 3-12C-310 - Privatization of governmental function."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-310"><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="s83513a8ae8d2416893471a8d0febaec5Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-310" rel="noopener"><span class="s83513a8ae8d2416893471a8d0febaec5SENU">3-12C-310</span></a><span xml:space="preserve" class="s83513a8ae8d2416893471a8d0febaec5SENU">. </span><span class="s83513a8ae8d2416893471a8d0febaec5CL">Privatization of governmental function.</span></p><p dir="ltr" class="s83513a8ae8d2416893471a8d0febaec5Statute"><span xml:space="preserve" class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont">If a participating unit determines that a governmental function is to be privatized after July 1, 1997, the participating unit must pass a resolution to that effect determining the date that its employees will cease to be public employees eligible for membership in the system. The participating unit shall notify the system and the employees affected of the resolution and, after the effective date, cease to make contributions to the system, as required in §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-401" rel="noopener"><span class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont">3-12C-401</span></a><span xml:space="preserve" class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-403" rel="noopener"><span class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont">3-12C-403</span></a><span xml:space="preserve" class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont">. Any member affected by privatization is entitled to the benefits accrued as of the effective date under the provisions of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C" rel="noopener"><span class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont">3-12C</span></a><span xml:space="preserve" class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont">. For the purposes of determining eligibility for vesting and early retirement pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1111" rel="noopener"><span class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont">3-12C-1111</span></a><span class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont">, years of service with the successor employer must be considered.</span></p><p dir="ltr" class="s83513a8ae8d2416893471a8d0febaec5Normal"><span xml:space="preserve" class="s83513a8ae8d2416893471a8d0febaec5000000"> </span></p><p dir="ltr" class="s83513a8ae8d2416893471a8d0febaec5NoIndent"><span xml:space="preserve" class="s83513a8ae8d2416893471a8d0febaec5DefaultParagraphFont-000001">Source: </span><span class="s83513a8ae8d2416893471a8d0febaec5SCL">SL 1997, ch 30, § 1; SL 2016, ch 31, § 11; SDCL § 3-12-72.4; SL 2019, ch 22, § 1; SL 2025, ch 27, § 26.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s8c42663ee71d43a0b7bcc69c23dca92cNormal { 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.s8c42663ee71d43a0b7bcc69c23dca92cSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8c42663ee71d43a0b7bcc69c23dca92cCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s8c42663ee71d43a0b7bcc69c23dca92cStatute { 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.s8c42663ee71d43a0b7bcc69c23dca92cDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s8c42663ee71d43a0b7bcc69c23dca92c000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s8c42663ee71d43a0b7bcc69c23dca92cNoIndent { 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.s8c42663ee71d43a0b7bcc69c23dca92cDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8c42663ee71d43a0b7bcc69c23dca92cSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-311 - Privatization of governmental function--Member s acquisition of service credit--Retirement while continuing private employment."><meta property="og:description" content="SDLRC Codified Law 3-12C-311 - Privatization of governmental function--Member s acquisition of service credit--Retirement while continuing private employment."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-311"><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="s8c42663ee71d43a0b7bcc69c23dca92cNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-311" rel="noopener"><span class="s8c42663ee71d43a0b7bcc69c23dca92cSENU">3-12C-311</span></a><span xml:space="preserve" class="s8c42663ee71d43a0b7bcc69c23dca92cSENU">. </span><span class="s8c42663ee71d43a0b7bcc69c23dca92cCL">Privatization of governmental function--Member s acquisition of service credit--Retirement while continuing private employment.</span></p><p dir="ltr" class="s8c42663ee71d43a0b7bcc69c23dca92cStatute"><span xml:space="preserve" class="s8c42663ee71d43a0b7bcc69c23dca92cDefaultParagraphFont">Acquisition of years of service toward vesting or early retirement granted, pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-310" rel="noopener"><span class="s8c42663ee71d43a0b7bcc69c23dca92cDefaultParagraphFont">3-12C-310</span></a><span class="s8c42663ee71d43a0b7bcc69c23dca92cDefaultParagraphFont">, ceases upon the member's termination of employment with the private employer, even if the member later returns to employment with the employer. A member in continuing employment with the private employer need not terminate the private employment to receive a retirement benefit from the system. The member may not acquire additional years of service after the member begins receiving the benefit.</span></p><p dir="ltr" class="s8c42663ee71d43a0b7bcc69c23dca92cNormal"><span xml:space="preserve" class="s8c42663ee71d43a0b7bcc69c23dca92c000000"> </span></p><p dir="ltr" class="s8c42663ee71d43a0b7bcc69c23dca92cNoIndent"><span xml:space="preserve" class="s8c42663ee71d43a0b7bcc69c23dca92cDefaultParagraphFont-000001">Source: </span><span class="s8c42663ee71d43a0b7bcc69c23dca92cSCL">SL 2025, ch 27, § 27.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s4560b775b405417fa248307a739a0789Normal { 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.s4560b775b405417fa248307a739a0789SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4560b775b405417fa248307a739a0789CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s4560b775b405417fa248307a739a0789Statute { 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.s4560b775b405417fa248307a739a0789DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s4560b775b405417fa248307a739a0789000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4560b775b405417fa248307a739a0789NoIndent { 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.s4560b775b405417fa248307a739a0789DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4560b775b405417fa248307a739a0789SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-312 - Participating unit liaison."><meta property="og:description" content="SDLRC Codified Law 3-12C-312 - Participating unit liaison."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-312"><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="s4560b775b405417fa248307a739a0789Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-312" rel="noopener"><span class="s4560b775b405417fa248307a739a0789SENU">3-12C-312</span></a><span xml:space="preserve" class="s4560b775b405417fa248307a739a0789SENU">. </span><span class="s4560b775b405417fa248307a739a0789CL">Participating unit liaison.</span></p><p dir="ltr" class="s4560b775b405417fa248307a739a0789Statute"><span class="s4560b775b405417fa248307a739a0789DefaultParagraphFont">Each participating unit shall appoint an employee to serve as an authorized agent between the participating unit and the system.</span></p><p dir="ltr" class="s4560b775b405417fa248307a739a0789Normal"><span xml:space="preserve" class="s4560b775b405417fa248307a739a0789000000"> </span></p><p dir="ltr" class="s4560b775b405417fa248307a739a0789NoIndent"><span xml:space="preserve" class="s4560b775b405417fa248307a739a0789DefaultParagraphFont-000001">Source: </span><span class="s4560b775b405417fa248307a739a0789SCL">SL 2025, ch 27, § 28.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080010Normal { 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.s2080010SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080010CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2080010Statute { 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.s2080010DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2080010StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2080010Statute-000000 { text-indent: 0.25in; 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; } a.s2080010000001 { text-decoration: none; } span.s2080010000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080010DefaultParagraphFont-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080010SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2080010Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-401"><span class="s2080010SENU">3-12C-401</span></a><span xml:space="preserve" class="s2080010SENU">. </span><span class="s2080010CL">Rate of contributions--Deduction from pay--Employer to make members' contributions.</span></p><p dir="ltr" class="s2080010Statute"><span xml:space="preserve" class="s2080010DefaultParagraphFont">Any employee included in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-301"><span class="s2080010DefaultParagraphFont">3-12C-301</span></a><span xml:space="preserve" class="s2080010DefaultParagraphFont"> shall make a contribution to the system, except as specified in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1405"><span class="s2080010DefaultParagraphFont">3-12C-1405</span></a><span class="s2080010DefaultParagraphFont">, and the employer shall make an equal contribution to the system, except as otherwise specified, at the following rates:</span></p><p dir="ltr" class="s2080010StatuteNumber1"><span class="s2080010DefaultParagraphFont">(1)    Class A members: five percent of compensation through June 30, 2002, and six percent of compensation after June 30, 2002;</span></p><p dir="ltr" class="s2080010StatuteNumber1"><span class="s2080010DefaultParagraphFont">(2)    Justices, judges, and magistrate judges: nine percent of compensation;</span></p><p dir="ltr" class="s2080010StatuteNumber1"><span class="s2080010DefaultParagraphFont">(3)    All other Class B members: eight percent of compensation.</span></p><p dir="ltr" class="s2080010Statute-000000"><span class="s2080010DefaultParagraphFont">The employer shall cause to be deducted on each payroll of the employee for each payroll period the contribution payable by the employee as provided in this section.</span></p><p dir="ltr" class="s2080010Statute-000000"><span xml:space="preserve" class="s2080010DefaultParagraphFont">Except for those contributions specified in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1405"><span class="s2080010DefaultParagraphFont">3-12C-1405</span></a><span xml:space="preserve" class="s2080010DefaultParagraphFont">, contributions required of employees by this section shall be made by the participating unit pursuant to the provisions of § 414(h)(2) of the Internal Revenue Code. The contributions shall </span><a id="_pagenumber12" class="s2080010000001"></a><span class="s2080010DefaultParagraphFont">be classified as employee contributions for all purposes under this chapter. An employee may not receive the amount of the contributions directly rather than as contributions under this section.</span></p><p dir="ltr" class="s2080010Normal"><span xml:space="preserve" class="s2080010000002"> </span></p><p dir="ltr" class="s2080010Normal"><span xml:space="preserve" class="s2080010DefaultParagraphFont-000003">Source: </span><span class="s2080010SCL">SL 1967, ch 303, § 5; SDCL §§ 3-12-22, 3-12-23; SL 1968, ch 216, § 1; SL 1974, ch 35, § 29; SL 1977, ch 31, § 5; SL 1982, ch 38; SL 1984, ch 23, § 2; SL 1989, ch 38, § 8; SL 2000, ch 23, § 1; SL 2010, ch 23, § 5, eff. Apr. 1, 2010; SL 2013, ch 20, § 6; SDCL § 3-12-71; SL 2019, ch 22, § 1; SL 2020, ch 12, § 7.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s615fdaed64884b4b8f233cb6e28ef9ccNormal { 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.s615fdaed64884b4b8f233cb6e28ef9ccSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s615fdaed64884b4b8f233cb6e28ef9ccCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s615fdaed64884b4b8f233cb6e28ef9ccStatute { 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.s615fdaed64884b4b8f233cb6e28ef9ccDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s615fdaed64884b4b8f233cb6e28ef9cc000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s615fdaed64884b4b8f233cb6e28ef9ccNoIndent { 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.s615fdaed64884b4b8f233cb6e28ef9ccDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s615fdaed64884b4b8f233cb6e28ef9ccSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-402 - Additional contribution for foundation members."><meta property="og:description" content="SDLRC Codified Law 3-12C-402 - Additional contribution for foundation members."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-402"><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="s615fdaed64884b4b8f233cb6e28ef9ccNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-402" rel="noopener"><span class="s615fdaed64884b4b8f233cb6e28ef9ccSENU">3-12C-402</span></a><span xml:space="preserve" class="s615fdaed64884b4b8f233cb6e28ef9ccSENU">. </span><span class="s615fdaed64884b4b8f233cb6e28ef9ccCL">Additional contribution for foundation members.</span></p><p dir="ltr" class="s615fdaed64884b4b8f233cb6e28ef9ccStatute"><span class="s615fdaed64884b4b8f233cb6e28ef9ccDefaultParagraphFont">Each participating unit shall make an additional contribution in the amount of six and two-tenths percent of any foundation member's compensation in each calendar year that exceeds the maximum taxable amount for social security for the calendar year. The additional contribution may be made only for Class A foundation members and may not be treated as an employer contribution.</span></p><p dir="ltr" class="s615fdaed64884b4b8f233cb6e28ef9ccNormal"><span xml:space="preserve" class="s615fdaed64884b4b8f233cb6e28ef9cc000000"> </span></p><p dir="ltr" class="s615fdaed64884b4b8f233cb6e28ef9ccNoIndent"><span xml:space="preserve" class="s615fdaed64884b4b8f233cb6e28ef9ccDefaultParagraphFont-000001">Source: </span><span class="s615fdaed64884b4b8f233cb6e28ef9ccSCL">SL 2002, ch 23, § 5; SL 2016, ch 32, § 37; SDCL § 3-12-91.1; SL 2019, ch 22, § 1; SL 2025, ch 27, § 29.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s42f429016ab7488abced4dcfb864cacbNormal { 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.s42f429016ab7488abced4dcfb864cacbSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s42f429016ab7488abced4dcfb864cacbCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s42f429016ab7488abced4dcfb864cacbStatute { 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.s42f429016ab7488abced4dcfb864cacbDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s42f429016ab7488abced4dcfb864cacb000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s42f429016ab7488abced4dcfb864cacbNoIndent { 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.s42f429016ab7488abced4dcfb864cacbDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s42f429016ab7488abced4dcfb864cacbSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-403 - Monthly transmission of contributions--Deposit in fund--Late penalty."><meta property="og:description" content="SDLRC Codified Law 3-12C-403 - Monthly transmission of contributions--Deposit in fund--Late penalty."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-403"><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="s42f429016ab7488abced4dcfb864cacbNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-403" rel="noopener"><span class="s42f429016ab7488abced4dcfb864cacbSENU">3-12C-403</span></a><span xml:space="preserve" class="s42f429016ab7488abced4dcfb864cacbSENU">. </span><span class="s42f429016ab7488abced4dcfb864cacbCL">Monthly transmission of contributions--Deposit in fund--Late penalty.</span></p><p dir="ltr" class="s42f429016ab7488abced4dcfb864cacbStatute"><span class="s42f429016ab7488abced4dcfb864cacbDefaultParagraphFont">All employee and employer contributions to the system and the necessary supporting data must be transmitted by the employer at least monthly to the system. If the employer does not have a pay date in the month, no report is required in that month. Each monthly transmission for each respective calendar month must be dated no later than the last day of the month in which the transmission is required and must be completed by the fifteenth day of the following month. All supporting data must be transmitted electronically, in a format determined by system personnel. All contributions must be deposited with the state treasurer in the fund established to administer this chapter.</span></p><p dir="ltr" class="s42f429016ab7488abced4dcfb864cacbStatute"><span class="s42f429016ab7488abced4dcfb864cacbDefaultParagraphFont">If any participating unit fails to deliver contributions with respect to compensation paid in any month and the necessary supporting data by the fifteenth day of the following month, the participating unit must pay to the system a penalty equal to five percent of the delinquent contributions. The delinquent contributions and the penalty must bear interest at the assumed rate of return from the date due until the date paid. In calculating accumulated contributions, all contributions with respect to compensation paid in any fiscal year must be included in the calculation of interest credited for that fiscal year.</span></p><p dir="ltr" class="s42f429016ab7488abced4dcfb864cacbNormal"><span xml:space="preserve" class="s42f429016ab7488abced4dcfb864cacb000000"> </span></p><p dir="ltr" class="s42f429016ab7488abced4dcfb864cacbNoIndent"><span xml:space="preserve" class="s42f429016ab7488abced4dcfb864cacbDefaultParagraphFont-000001">Source: </span><span class="s42f429016ab7488abced4dcfb864cacbSCL">SL 1959, ch 84, § 28; SDC Supp 1960, § 15.3932 (3); SL 1961, ch 255, § 29; SL 1965, ch 220, § 21; SL 1967, ch 50, § 4; SL 1967, ch 303, § 5; SDCL §§ 3-12-22 to 3-12-24, 3-12-28, 9-15-49, 13-45-32; SL 1968, ch 216, § 1; SL 1970, ch 25, § 4; SL 1974, ch 35, § 30; SL 1978, ch 32, § 1; SL 1986, ch 38; SL 2008, ch 20, § 7, eff. Jan. 1, 2009; SL 2016, ch 31, § 10; SDCL § 3-12-72; SL 2019, ch 22, § 1; SL 2025, ch 27, § 30.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sfbe02ee6e09042d5a85b12d8912ffcacNormal { 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.sfbe02ee6e09042d5a85b12d8912ffcacSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sfbe02ee6e09042d5a85b12d8912ffcacCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sfbe02ee6e09042d5a85b12d8912ffcacStatute { 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.sfbe02ee6e09042d5a85b12d8912ffcacDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sfbe02ee6e09042d5a85b12d8912ffcac000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sfbe02ee6e09042d5a85b12d8912ffcacNoIndent { 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.sfbe02ee6e09042d5a85b12d8912ffcacDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sfbe02ee6e09042d5a85b12d8912ffcacSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-403.1 - Monthly transmission of contributions--Reports--Date--Transmittal."><meta property="og:description" content="SDLRC Codified Law 3-12C-403.1 - Monthly transmission of contributions--Reports--Date--Transmittal."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-403.1"><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="sfbe02ee6e09042d5a85b12d8912ffcacNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-403.1" rel="noopener"><span class="sfbe02ee6e09042d5a85b12d8912ffcacSENU">3-12C-403.1</span></a><span xml:space="preserve" class="sfbe02ee6e09042d5a85b12d8912ffcacSENU">. </span><span class="sfbe02ee6e09042d5a85b12d8912ffcacCL">Monthly transmission of contributions--Reports--Date--Transmittal.</span></p><p dir="ltr" class="sfbe02ee6e09042d5a85b12d8912ffcacStatute"><span class="sfbe02ee6e09042d5a85b12d8912ffcacDefaultParagraphFont">If a participating unit has at least one pay date in a month, the participating unit must prepare at least one contribution report for the month. If a participating unit has no pay date in a particular month, no report is required for the month.</span></p><p dir="ltr" class="sfbe02ee6e09042d5a85b12d8912ffcacStatute"><span class="sfbe02ee6e09042d5a85b12d8912ffcacDefaultParagraphFont">Each report must be dated no later than the last day of the month being reported.</span></p><p dir="ltr" class="sfbe02ee6e09042d5a85b12d8912ffcacStatute"><span xml:space="preserve" class="sfbe02ee6e09042d5a85b12d8912ffcacDefaultParagraphFont">Each report must state any pay date and associated contributions for the month. The report and associated contributions must be transmitted to the system as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-403" rel="noopener"><span class="sfbe02ee6e09042d5a85b12d8912ffcacDefaultParagraphFont">3-12C-403</span></a><span class="sfbe02ee6e09042d5a85b12d8912ffcacDefaultParagraphFont">.</span></p><p dir="ltr" class="sfbe02ee6e09042d5a85b12d8912ffcacNormal"><span xml:space="preserve" class="sfbe02ee6e09042d5a85b12d8912ffcac000000"> </span></p><p dir="ltr" class="sfbe02ee6e09042d5a85b12d8912ffcacNoIndent"><span xml:space="preserve" class="sfbe02ee6e09042d5a85b12d8912ffcacDefaultParagraphFont-000001">Source: </span><span class="sfbe02ee6e09042d5a85b12d8912ffcacSCL">SL 2025, ch 27, § 31.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033303Normal { 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.s2033303SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033303CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033303Normal-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.s2033303DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033303000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033303SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033303SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033303Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-404"><span class="s2033303SENU">3-12C-404</span></a><span xml:space="preserve" class="s2033303SENU">. </span><span class="s2033303CL">Deduction of delinquent contributions from payments due from state--Penalty and interest.</span></p><p dir="ltr" class="s2033303Normal-000000"><span xml:space="preserve" class="s2033303DefaultParagraphFont">If any participating unit becomes delinquent thirty or more days by failure or refusal to pay any amounts due to the system, the state treasurer shall, upon certification by the executive director of the delinquency, withhold and deduct the amount of the delinquency, penalty, and interest as specified in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-403"><span class="s2033303DefaultParagraphFont">3-12C-403</span></a><span xml:space="preserve" class="s2033303DefaultParagraphFont"> from the next succeeding payment or payments of any money in the hands of the state treasurer due and payable to the participating unit.</span></p><p dir="ltr" class="s2033303Normal"><span xml:space="preserve" class="s2033303000001"> </span></p><p dir="ltr" class="s2033303Normal"><span class="s2033303SCL">Source:</span><span xml:space="preserve" class="s2033303SCL-000002"> SL 1959, ch 84, § 30; SDC Supp 1960, § 15.3934 (2); SL 1967, ch 50, § 5; SDCL § 13-45-38; SL 1970, ch 25, § 13; SDCL Supp, § 3-12-23.1; SL 1974, ch 35, § 32; SL 2008, ch 20, § 8, eff. Jan. 1, 2009; SL 2016, ch 31, § 12; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-74"><span class="s2033303SCL-000002">3-12-74</span></a><span class="s2033303SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033304Normal { 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.s2033304SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033304CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033304Normal-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.s2033304DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033304000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033304SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033304SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033304Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-405"><span class="s2033304SENU">3-12C-405</span></a><span xml:space="preserve" class="s2033304SENU">. </span><span class="s2033304CL">Service records and employee information furnished by employers.</span></p><p dir="ltr" class="s2033304Normal-000000"><span class="s2033304DefaultParagraphFont">The officers responsible for the personnel records of employees of each participating unit shall file with the Board of Trustees, in such form as the board shall from time to time prescribe, a detailed statement of all service rendered by each eligible employee of the system; and shall furnish such other information as the board shall from time to time require in the operation of the system.</span></p><p dir="ltr" class="s2033304Normal"><span xml:space="preserve" class="s2033304000001"> </span></p><p dir="ltr" class="s2033304Normal"><span class="s2033304SCL">Source:</span><span xml:space="preserve" class="s2033304SCL-000002"> SL 1967, ch 303, § 10; SDCL § 3-12-39; SL 1968, ch 216, § 1; SL 1974, ch 35, § 31; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-73"><span class="s2033304SCL-000002">3-12-73</span></a><span class="s2033304SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033305Normal { 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.s2033305SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033305CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033305Normal-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.s2033305DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033305000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033305SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033305SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033305Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-406"><span class="s2033305SENU">3-12C-406</span></a><span xml:space="preserve" class="s2033305SENU">. </span><span class="s2033305CL">Knowing transmission of report with excluded compensation as misdemeanor.</span></p><p dir="ltr" class="s2033305Normal-000000"><span xml:space="preserve" class="s2033305DefaultParagraphFont">Any person or employer who transmits a report of compensation to the system knowing that some or all of the compensation is excluded by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-105"><span class="s2033305DefaultParagraphFont">3-12C-105</span></a><span class="s2033305DefaultParagraphFont">, is guilty of a Class 1 misdemeanor.</span></p><p dir="ltr" class="s2033305Normal"><span xml:space="preserve" class="s2033305000001"> </span></p><p dir="ltr" class="s2033305Normal"><span class="s2033305SCL">Source:</span><span xml:space="preserve" class="s2033305SCL-000002"> SL 2017, ch 28, § 5; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-47.13"><span class="s2033305SCL-000002">3-12-47.13</span></a><span class="s2033305SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.saecd50bde78e401088fd1279918b15a6Normal { 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.saecd50bde78e401088fd1279918b15a6SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.saecd50bde78e401088fd1279918b15a6CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.saecd50bde78e401088fd1279918b15a6Statute { 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.saecd50bde78e401088fd1279918b15a6DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.saecd50bde78e401088fd1279918b15a6StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.saecd50bde78e401088fd1279918b15a6000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.saecd50bde78e401088fd1279918b15a6NoIndent { 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.saecd50bde78e401088fd1279918b15a6DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.saecd50bde78e401088fd1279918b15a6SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-407 - Accumulated contributions defined--Foundation members."><meta property="og:description" content="SDLRC Codified Law 3-12C-407 - Accumulated contributions defined--Foundation members."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-407"><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="saecd50bde78e401088fd1279918b15a6Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-407" rel="noopener"><span class="saecd50bde78e401088fd1279918b15a6SENU">3-12C-407</span></a><span xml:space="preserve" class="saecd50bde78e401088fd1279918b15a6SENU">. </span><span class="saecd50bde78e401088fd1279918b15a6CL">Accumulated contributions defined--Foundation members.</span></p><p dir="ltr" class="saecd50bde78e401088fd1279918b15a6Statute"><span class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">For any foundation member, "accumulated contributions" means the sum of:</span></p><p dir="ltr" class="saecd50bde78e401088fd1279918b15a6StatuteNumber1"><span xml:space="preserve" class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">(1)    All contributions made by the member and any member contributions 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="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">3-12C-401</span></a><span class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">;</span></p><p dir="ltr" class="saecd50bde78e401088fd1279918b15a6StatuteNumber1"><span class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">(2)    For a member whose contributory service concluded after June 30, 2010, eighty-five percent of the employer contributions or noncontributory service, if the member had three years or more of contributory service, and fifty percent of the employer contributions, if the member had less than three years of service; or for a member whose contributory service concluded before July 1, 2010, one hundred percent of the employer contributions or noncontributory service, if the member had three years or more of contributory service, and seventy-five percent of the employer contributions, if the member had less than three years of service;</span></p><p dir="ltr" class="saecd50bde78e401088fd1279918b15a6StatuteNumber1"><span xml:space="preserve" class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">(3)    Member redeposits and member-credited service purchases pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-504" rel="noopener"><span class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-509" rel="noopener"><span class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">3-12C-509</span></a><span xml:space="preserve" class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-511" rel="noopener"><span class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">3-12C-511</span></a><span class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">; and</span></p><p dir="ltr" class="saecd50bde78e401088fd1279918b15a6StatuteNumber1"><span class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont">(4)    The effective rate of interest earned on the sum of subdivisions (1), (2), and (3) of this section.</span></p><p dir="ltr" class="saecd50bde78e401088fd1279918b15a6Normal"><span xml:space="preserve" class="saecd50bde78e401088fd1279918b15a6000000"> </span></p><p dir="ltr" class="saecd50bde78e401088fd1279918b15a6NoIndent"><span xml:space="preserve" class="saecd50bde78e401088fd1279918b15a6DefaultParagraphFont-000001">Source: </span><span class="saecd50bde78e401088fd1279918b15a6SCL">SL 2016, ch 32, § 24; SDCL § 3-12-89.2; SL 2019, ch 22, §§ 19, 45; SL 2025, ch 27, § 32.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033307Normal { 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.s2033307SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033307CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033307Normal-000000 { 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.s2033307DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033307Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033307000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033307SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033307SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033307Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-408"><span class="s2033307SENU">3-12C-408</span></a><span xml:space="preserve" class="s2033307SENU">. </span><span class="s2033307CL">Accumulated contributions defined for generational members.</span></p><p dir="ltr" class="s2033307Normal-000000"><span class="s2033307DefaultParagraphFont">For any generational member, the term, accumulated contributions, means the sum of:</span></p><p dir="ltr" class="s2033307Normal-000001"><span class="s2033307DefaultParagraphFont">(1)    All contributions made by the member;</span></p><p dir="ltr" class="s2033307Normal-000001"><span class="s2033307DefaultParagraphFont">(2)    Eighty-five percent of the contributions made by the member's employer if the member has three years or more of contributory service or noncontributory service, or fifty percent of the contributions made by the employer if the member has less than three years of contributory service or noncontributory service;</span></p><p dir="ltr" class="s2033307Normal-000001"><span xml:space="preserve" class="s2033307DefaultParagraphFont">(3)    Member credited service purchases pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2033307DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="s2033307DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-509"><span class="s2033307DefaultParagraphFont">3-12C-509</span></a><span xml:space="preserve" class="s2033307DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-511"><span class="s2033307DefaultParagraphFont">3-12C-511</span></a><span class="s2033307DefaultParagraphFont">; and</span></p><p dir="ltr" class="s2033307Normal-000001"><span class="s2033307DefaultParagraphFont">(4)    The effective rate of interest on the sum of subdivisions (1), (2), and (3).</span></p><p dir="ltr" class="s2033307Normal"><span xml:space="preserve" class="s2033307000002"> </span></p><p dir="ltr" class="s2033307Normal"><span class="s2033307SCL">Source:</span><span xml:space="preserve" class="s2033307SCL-000003"> SL 2016, ch 32, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-500"><span class="s2033307SCL-000003">3-12-500</span></a><span class="s2033307SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033308Normal { 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.s2033308SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033308CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033308Normal-000000 { 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.s2033308DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033308Normal-000001 { text-indent: 0.25in; 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; } p.s2033308Normal-000002 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033308000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033308SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033308SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033308Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-409"><span class="s2033308SENU">3-12C-409</span></a><span xml:space="preserve" class="s2033308SENU">. </span><span class="s2033308CL">Refund of unpaid accumulated contributions upon termination--Reversion of unclaimed payments to system.</span></p><p dir="ltr" class="s2033308Normal-000000"><span class="s2033308DefaultParagraphFont">After all benefits currently or potentially payable under any provision of this chapter have terminated, if the aggregate benefits paid to a member and the member's surviving spouse and minor children, including any distribution of the member's variable retirement account, are less than the member's accumulated contributions, the amount by which the accumulated contributions exceed total payments made to date shall be paid in a lump sum as provided in this section.</span></p><p dir="ltr" class="s2033308Normal-000001"><span class="s2033308DefaultParagraphFont">Amounts payable under this section shall be paid as follows:</span></p><p dir="ltr" class="s2033308Normal-000002"><span class="s2033308DefaultParagraphFont">(1)    To the beneficiary or entity designated by the member, if any is designated;</span></p><p dir="ltr" class="s2033308Normal-000002"><span class="s2033308DefaultParagraphFont">(2)    If no beneficiary or entity is designated, then to the member's surviving spouse;</span></p><p dir="ltr" class="s2033308Normal-000002"><span class="s2033308DefaultParagraphFont">(3)    If no beneficiary or entity is designated and there is no surviving spouse, then to all surviving children, irrespective of age, on a share-alike basis; or</span></p><p dir="ltr" class="s2033308Normal-000002"><span class="s2033308DefaultParagraphFont">(4)    If no beneficiary or entity is designated, there is no surviving spouse, and there are no surviving children, then to the member's estate.</span></p><p dir="ltr" class="s2033308Normal-000001"><span class="s2033308DefaultParagraphFont">If no claim for payment due upon the death of a deceased member is made within three years from date of death, the payment shall revert to the system. However, a claim may be honored after the expiration of the three-year reversion period if, in the opinion of the executive director, payment of the claim is warranted by exceptional circumstances.</span></p><p dir="ltr" class="s2033308Normal"><span xml:space="preserve" class="s2033308000003"> </span></p><p dir="ltr" class="s2033308Normal"><span class="s2033308SCL">Source:</span><span xml:space="preserve" class="s2033308SCL-000004"> SL 1974, ch 35, § 64; SL 1986, ch 37, § 9; SL 1995, ch 24, § 16; SL 1997, ch 29, § 1; SL 1998, ch 15, § 21; SL 1999, ch 15, § 7; SL 2006, ch 21, § 1; SL 2010, ch 20, § 12; SL 2014, ch 20, § 30; SL 2015, ch 27, § 1; SL 2016, ch 32, § 46; SL 2017, ch 27, § 19; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-110"><span class="s2033308SCL-000004">3-12-110</span></a><span class="s2033308SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033309Normal { 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.s2033309SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033309CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033309Normal-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.s2033309DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033309000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033309SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033309SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033309Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-410"><span class="s2033309SENU">3-12C-410</span></a><span xml:space="preserve" class="s2033309SENU">. </span><span class="s2033309CL">Lump-sum payments where designated beneficiary does not survive member--Reversion to system of unclaimed payments.</span></p><p dir="ltr" class="s2033309Normal-000000"><span class="s2033309DefaultParagraphFont">If a designated beneficiary does not survive the member, any lump-sum payment that may be due shall be payable to the member's surviving spouse. If there is no surviving spouse, the payment shall be payable to all of the member's surviving children, irrespective of age, on a share-alike basis. If there is no surviving spouse and no surviving children, the payment shall be payable to the estate of the deceased member. If no claim for payment due upon the death of a deceased member is made within three years from date of death, the payment shall revert to the system. However, a claim may be honored after the expiration of the three-year reversion period if, in the opinion of the executive director, payment of the claim is warranted by exceptional circumstances.</span></p><p dir="ltr" class="s2033309Normal"><span xml:space="preserve" class="s2033309000001"> </span></p><p dir="ltr" class="s2033309Normal"><span class="s2033309SCL">Source:</span><span xml:space="preserve" class="s2033309SCL-000002"> SL 1967, ch 303, § 8 as added by SL 1968, ch 216, § 1; SDCL Supp, § 3-12-29.1; SL 1974, ch 35, § 70; SL 2006, ch 21, § 2; SL 2016, ch 31, § 24; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-116"><span class="s2033309SCL-000002">3-12-116</span></a><span class="s2033309SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033310Normal { 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.s2033310SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033310CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033310Normal-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.s2033310DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033310000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033310SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033310SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033310Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-501"><span class="s2033310SENU">3-12C-501</span></a><span xml:space="preserve" class="s2033310SENU">. </span><span class="s2033310CL">Uniform application of service credit rules.</span></p><p dir="ltr" class="s2033310Normal-000000"><span class="s2033310DefaultParagraphFont">Any period of credited service granted under the rules and regulations adopted by the Board of Trustees must be applied uniformly and consistently to all members.</span></p><p dir="ltr" class="s2033310Normal"><span xml:space="preserve" class="s2033310000001"> </span></p><p dir="ltr" class="s2033310Normal"><span class="s2033310SCL">Source:</span><span xml:space="preserve" class="s2033310SCL-000002"> SL 1974, ch 35, § 45; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-89"><span class="s2033310SCL-000002">3-12-89</span></a><span class="s2033310SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s155d18e2bfc84ea3859d7fa561efa07eNormal { 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.s155d18e2bfc84ea3859d7fa561efa07eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s155d18e2bfc84ea3859d7fa561efa07eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s155d18e2bfc84ea3859d7fa561efa07eStatute { 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.s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s155d18e2bfc84ea3859d7fa561efa07e000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s155d18e2bfc84ea3859d7fa561efa07eNoIndent { 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.s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s155d18e2bfc84ea3859d7fa561efa07eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-502 - Credited service defined--Foundation members."><meta property="og:description" content="SDLRC Codified Law 3-12C-502 - Credited service defined--Foundation members."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-502"><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="s155d18e2bfc84ea3859d7fa561efa07eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-502" rel="noopener"><span class="s155d18e2bfc84ea3859d7fa561efa07eSENU">3-12C-502</span></a><span xml:space="preserve" class="s155d18e2bfc84ea3859d7fa561efa07eSENU">. </span><span class="s155d18e2bfc84ea3859d7fa561efa07eCL">Credited service defined--Foundation members.</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatute"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">For any foundation member, "credited service" means:</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">(1)    Years of service, or fractions thereof, for which a member contribution was made to the system;</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1"><span xml:space="preserve" class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">(2)    Years of noncontributory service, or fractions thereof, credited before July 1, 1974, previously credited under the provisions of the retirement systems consolidated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1601" rel="noopener"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">3-12C-1601</span></a><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">;</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">(3)    Any period of authorized leave of absence or sick leave with pay, for which a deduction for any member contribution was made, deposited, and credited to the fund;</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">(4)    Any period of authorized leave of absence or sick leave without pay or temporary layoff, during or for which a member obtained credit by payments to the fund made in lieu of salary deductions;</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1"><span xml:space="preserve" class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">(5)    Any period during which a member is on an authorized leave of absence to enter military service, if the member fulfills the requirements set forth in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-514" rel="noopener"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">3-12C-514</span></a><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">;</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1"><span xml:space="preserve" class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">(6)    Years of service, or fractions thereof, by faculty and administrators employed by the Board of Regents before April 1, 1964, credited pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1611" rel="noopener"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">3-12C-1611</span></a><span xml:space="preserve" class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1612" rel="noopener"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">3-12C-1612</span></a><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">;</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1"><span xml:space="preserve" class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">(7)    Years of noncontributory service, or fractions thereof, earned before July 1, 1967, but not credited under the South Dakota public employee retirement system as it was consolidated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1601" rel="noopener"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">3-12C-1601</span></a><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">, because the individual earned the service prior to attaining the age of thirty. The service must be credited only to an individual who was a contributing member on July 1, 1987. No service may be credited pursuant to this subdivision to any member who has withdrawn the member's accumulated contributions after July 1, 1967; and</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eStatuteNumber1"><span class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont">(8)    Years of noncontributory service, or fractions thereof, earned by a member from July 1, 1967, to June 30, 1974, inclusive, but not credited under the South Dakota public employee retirement system because of the age and service restrictions established under that system.</span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eNormal"><span xml:space="preserve" class="s155d18e2bfc84ea3859d7fa561efa07e000000"> </span></p><p dir="ltr" class="s155d18e2bfc84ea3859d7fa561efa07eNoIndent"><span xml:space="preserve" class="s155d18e2bfc84ea3859d7fa561efa07eDefaultParagraphFont-000001">Source: </span><span class="s155d18e2bfc84ea3859d7fa561efa07eSCL">SL 2016, ch 32, § 25; SDCL § 3-12-89.3; SL 2019, ch 22, § 1; SL 2025, ch 27, § 33.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sf756888e511e431fb55acd59c92a538dNormal { 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.sf756888e511e431fb55acd59c92a538dSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf756888e511e431fb55acd59c92a538dCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sf756888e511e431fb55acd59c92a538dStatute { 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.sf756888e511e431fb55acd59c92a538dDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sf756888e511e431fb55acd59c92a538dStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sf756888e511e431fb55acd59c92a538d000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sf756888e511e431fb55acd59c92a538dNoIndent { 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.sf756888e511e431fb55acd59c92a538dDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf756888e511e431fb55acd59c92a538dSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-503 - Credited service defined--Generational members."><meta property="og:description" content="SDLRC Codified Law 3-12C-503 - Credited service defined--Generational members."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-503"><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="sf756888e511e431fb55acd59c92a538dNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-503" rel="noopener"><span class="sf756888e511e431fb55acd59c92a538dSENU">3-12C-503</span></a><span xml:space="preserve" class="sf756888e511e431fb55acd59c92a538dSENU">. </span><span class="sf756888e511e431fb55acd59c92a538dCL">Credited service defined--Generational members.</span></p><p dir="ltr" class="sf756888e511e431fb55acd59c92a538dStatute"><span class="sf756888e511e431fb55acd59c92a538dDefaultParagraphFont">For any generational member, "credited service" means the sum of the following:</span></p><p dir="ltr" class="sf756888e511e431fb55acd59c92a538dStatuteNumber1"><span class="sf756888e511e431fb55acd59c92a538dDefaultParagraphFont">(1)    Years of service, or fractions thereof, for which a member contribution was made to the system;</span></p><p dir="ltr" class="sf756888e511e431fb55acd59c92a538dStatuteNumber1"><span class="sf756888e511e431fb55acd59c92a538dDefaultParagraphFont">(2)    Any period of authorized leave of absence or sick leave with pay, for which a deduction for any member contribution was made, deposited, and credited to the fund;</span></p><p dir="ltr" class="sf756888e511e431fb55acd59c92a538dStatuteNumber1"><span class="sf756888e511e431fb55acd59c92a538dDefaultParagraphFont">(3)    Any period of authorized leave of absence or sick leave without pay or temporary layoff, during or for which a member obtained credit by payments to the fund made in lieu of salary deductions; and</span></p><p dir="ltr" class="sf756888e511e431fb55acd59c92a538dStatuteNumber1"><span xml:space="preserve" class="sf756888e511e431fb55acd59c92a538dDefaultParagraphFont">(4)    Any period during which a member is on an authorized leave of absence to enter military service, if the member fulfills the requirements set forth in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-514" rel="noopener"><span class="sf756888e511e431fb55acd59c92a538dDefaultParagraphFont">3-12C-514</span></a><span class="sf756888e511e431fb55acd59c92a538dDefaultParagraphFont">.</span></p><p dir="ltr" class="sf756888e511e431fb55acd59c92a538dNormal"><span xml:space="preserve" class="sf756888e511e431fb55acd59c92a538d000000"> </span></p><p dir="ltr" class="sf756888e511e431fb55acd59c92a538dNoIndent"><span xml:space="preserve" class="sf756888e511e431fb55acd59c92a538dDefaultParagraphFont-000001">Source: </span><span class="sf756888e511e431fb55acd59c92a538dSCL">SL 2016, ch 32, § 2; SDCL § 3-12-501; SL 2019, ch 22, § 1; SL 2025, ch 27, § 34.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s68de4100d46e4b87b62e610c7063493cNormal { 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.s68de4100d46e4b87b62e610c7063493cSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s68de4100d46e4b87b62e610c7063493cCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s68de4100d46e4b87b62e610c7063493cStatute { 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.s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s68de4100d46e4b87b62e610c7063493cStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s68de4100d46e4b87b62e610c7063493c000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s68de4100d46e4b87b62e610c7063493cNoIndent { 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.s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s68de4100d46e4b87b62e610c7063493cSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-504 - Purchase of prior service credit--Calculation of amount due."><meta property="og:description" content="SDLRC Codified Law 3-12C-504 - Purchase of prior service credit--Calculation of amount due."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-504"><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="s68de4100d46e4b87b62e610c7063493cNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-504" rel="noopener"><span class="s68de4100d46e4b87b62e610c7063493cSENU">3-12C-504</span></a><span xml:space="preserve" class="s68de4100d46e4b87b62e610c7063493cSENU">. </span><span class="s68de4100d46e4b87b62e610c7063493cCL">Purchase of prior service credit--Calculation of amount due.</span></p><p dir="ltr" class="s68de4100d46e4b87b62e610c7063493cStatute"><span class="s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont">A current contributing member of the system may receive credited service by election to make, or have made on the member's behalf, contributions, based on the higher of the member's current compensation, or the member's final compensation calculated as if the member retired on the date of election, at an actuarially determined percentage times the member rate, for each year of service for which the member wishes to receive credit, if:</span></p><p dir="ltr" class="s68de4100d46e4b87b62e610c7063493cStatuteNumber1"><span class="s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont">(1)    The current contributing member of the system could have established credit for any South Dakota public service by making contributions under this chapter or any prior law; or</span></p><p dir="ltr" class="s68de4100d46e4b87b62e610c7063493cStatuteNumber1"><span class="s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont">(2)    The current contributing member was not permitted to establish credit for any South Dakota public service.</span></p><p dir="ltr" class="s68de4100d46e4b87b62e610c7063493cStatute"><span xml:space="preserve" class="s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont">The amount of the credited service and the rate of contribution must be at class A rates, unless the service for which credit is sought was rendered as a class B member, in which case class B rates apply. If a participating unit has failed to pay any employer or member contribution to the system on behalf of a member, as required under this chapter or under any predecessor system consolidated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1601" rel="noopener"><span class="s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont">3-12C-1601</span></a><span class="s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont">, the amount due the system must be calculated in accordance with this section.</span></p><p dir="ltr" class="s68de4100d46e4b87b62e610c7063493cStatute"><span class="s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont">The member rate in effect as of July 1, 2001, must be used in the calculation of the purchase cost of any service performed prior to July 1, 2002, if a contract to purchase the service was in place prior to July 1, 2004. The member rate in effect on and after July 1, 2002, must be the basis for calculation of the purchase cost of any service, if the contract to purchase the service was not in place until on or after July 1, 2004.</span></p><p dir="ltr" class="s68de4100d46e4b87b62e610c7063493cNormal"><span xml:space="preserve" class="s68de4100d46e4b87b62e610c7063493c000000"> </span></p><p dir="ltr" class="s68de4100d46e4b87b62e610c7063493cNoIndent"><span xml:space="preserve" class="s68de4100d46e4b87b62e610c7063493cDefaultParagraphFont-000001">Source: </span><span class="s68de4100d46e4b87b62e610c7063493cSCL">SL 1974, ch 35, § 40; SL 1977, ch 28, § 8; SL 1980, ch 31, § 4; SL 1984, ch 24, § 5; SL 1989, ch 38, § 16; SL 2002, ch 23, § 2; SL 2004, ch 39, § 1; SDCL § 3-12-83; SL 2019, ch 22, § 1; SL 2025, ch 27, § 35.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033314Normal { 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.s2033314SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033314CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033314Normal-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.s2033314DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033314000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033314SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033314SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033314Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-505"><span class="s2033314SENU">3-12C-505</span></a><span xml:space="preserve" class="s2033314SENU">. </span><span class="s2033314CL">Prospective increase for credited service related to years of noncontributory service.</span></p><p dir="ltr" class="s2033314Normal-000000"><span class="s2033314DefaultParagraphFont">Any increase in a retired member's benefit as a result of credited service related to years of noncontributory service, or fractions thereof, earned by a member from July 1, 1967, to June 30, 1974, inclusive, but not credited under the South Dakota public employee retirement system because of the age and service restrictions established under the system shall be prospective only from July 1, 1997.</span></p><p dir="ltr" class="s2033314Normal"><span xml:space="preserve" class="s2033314000001"> </span></p><p dir="ltr" class="s2033314Normal"><span class="s2033314SCL">Source:</span><span xml:space="preserve" class="s2033314SCL-000002"> SL 1997, ch 25, § 2; SL 2016, ch 32, § 30; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-47.1"><span class="s2033314SCL-000002">3-12-47.1</span></a><span class="s2033314SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033315Normal { 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.s2033315SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033315CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033315Normal-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.s2033315DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033315000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033315SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033315SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033315Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-506"><span class="s2033315SENU">3-12C-506</span></a><span xml:space="preserve" class="s2033315SENU">. </span><span class="s2033315CL">Refund for purchase cost of noncontributing service.</span></p><p dir="ltr" class="s2033315Normal-000000"><span xml:space="preserve" class="s2033315DefaultParagraphFont">Any member who, pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2033315DefaultParagraphFont">3-12C-504</span></a><span class="s2033315DefaultParagraphFont">, has purchased a portion or all of the member's noncontributory service earned by a member from July 1, 1967, to June 30, 1974, inclusive, but not credited under the South Dakota public employee retirement system because of the age and service restrictions established under the system is entitled to a refund of such purchase cost.</span></p><p dir="ltr" class="s2033315Normal"><span xml:space="preserve" class="s2033315000001"> </span></p><p dir="ltr" class="s2033315Normal"><span class="s2033315SCL">Source:</span><span xml:space="preserve" class="s2033315SCL-000002"> SL 1997, ch 25, § 3; SL 2016, ch 32, § 31; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-47.2"><span class="s2033315SCL-000002">3-12-47.2</span></a><span class="s2033315SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080012Normal { 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.s2080012SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080012CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080012000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080012DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080012SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2080012Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-507"><span class="s2080012SENU">3-12C-507</span></a><span xml:space="preserve" class="s2080012SENU">. </span><span class="s2080012CL">Repealed.</span></p><p dir="ltr" class="s2080012Normal"><span xml:space="preserve" class="s2080012000000"> </span></p><p dir="ltr" class="s2080012Normal"><span xml:space="preserve" class="s2080012DefaultParagraphFont">Source: </span><span class="s2080012SCL">SL 1996, ch 30, § 2; SDCL § 3-12-83.1; SL 2019, ch 22, § 1; SL 2020, ch 12, § 9.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080013Normal { 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.s2080013SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080013CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080013000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080013DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080013SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2080013Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-508"><span class="s2080013SENU">3-12C-508</span></a><span xml:space="preserve" class="s2080013SENU">. </span><span class="s2080013CL">Repealed.</span></p><p dir="ltr" class="s2080013Normal"><span xml:space="preserve" class="s2080013000000"> </span></p><p dir="ltr" class="s2080013Normal"><span xml:space="preserve" class="s2080013DefaultParagraphFont">Source: </span><span class="s2080013SCL">SL 1996, ch 30, § 3; SL 2008, ch 20, § 11; SL 2013, ch 20, § 7; SDCL § 3-12-83.2; SL 2019, ch 22, § 1; SL 2020, ch 12, § 10.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s25b24ae0ecbe4fe2905cd15019449783Normal { 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.s25b24ae0ecbe4fe2905cd15019449783SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s25b24ae0ecbe4fe2905cd15019449783CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s25b24ae0ecbe4fe2905cd15019449783Statute { 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.s25b24ae0ecbe4fe2905cd15019449783DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s25b24ae0ecbe4fe2905cd15019449783000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s25b24ae0ecbe4fe2905cd15019449783NoIndent { 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.s25b24ae0ecbe4fe2905cd15019449783DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s25b24ae0ecbe4fe2905cd15019449783SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-509 - Purchase of prior service credit for public service not covered by retirement plan."><meta property="og:description" content="SDLRC Codified Law 3-12C-509 - Purchase of prior service credit for public service not covered by retirement plan."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-509"><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="s25b24ae0ecbe4fe2905cd15019449783Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-509" rel="noopener"><span class="s25b24ae0ecbe4fe2905cd15019449783SENU">3-12C-509</span></a><span xml:space="preserve" class="s25b24ae0ecbe4fe2905cd15019449783SENU">. </span><span class="s25b24ae0ecbe4fe2905cd15019449783CL">Purchase of prior service credit for public service not covered by retirement plan.</span></p><p dir="ltr" class="s25b24ae0ecbe4fe2905cd15019449783Statute"><span class="s25b24ae0ecbe4fe2905cd15019449783DefaultParagraphFont">If a current contributing member with at least five years of contributory service in the system has other public service for which the member is not entitled to retirement benefits from another public retirement system, the member may elect to deposit or have deposited on the member's behalf an amount equal to an actuarially-determined percentage times the Class A rate of contribution multiplied by the higher of the member's annual compensation at the time of making the election, or the member's final compensation calculated as if the member retired on the date of the member's election, for each year of other public service for which the member wishes to receive credit as a Class A member.</span></p><p dir="ltr" class="s25b24ae0ecbe4fe2905cd15019449783Statute"><span class="s25b24ae0ecbe4fe2905cd15019449783DefaultParagraphFont">The member rate in effect as of July 1, 2001, shall be used in calculation of the purchase cost of any service performed prior to July 1, 2002, if a contract to purchase such service was in place prior to July 1, 2004. The member rate in effect on and after July 1, 2002, shall be the basis for calculation of the purchase cost of any service if the contract to purchase such service is not in place until on or after July 1, 2004.</span></p><p dir="ltr" class="s25b24ae0ecbe4fe2905cd15019449783Normal"><span xml:space="preserve" class="s25b24ae0ecbe4fe2905cd15019449783000000"> </span></p><p dir="ltr" class="s25b24ae0ecbe4fe2905cd15019449783NoIndent"><span xml:space="preserve" class="s25b24ae0ecbe4fe2905cd15019449783DefaultParagraphFont-000001">Source: </span><span class="s25b24ae0ecbe4fe2905cd15019449783SCL">SL 1974, ch 35, § 41; SL 1980, ch 31, § 5; SL 1984, ch 24, § 6; SL 1989, ch 38, § 17; SL 2002, ch 23, § 3; SL 2004, ch 39, § 2; SDCL § 3-12-84; SL 2019, ch 22, § 1; SL 2023, ch 14, § 3.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</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; } </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><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033320Normal { 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.s2033320SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033320CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033320Normal-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.s2033320DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033320000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033320SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033320SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033320Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-511"><span class="s2033320SENU">3-12C-511</span></a><span xml:space="preserve" class="s2033320SENU">. </span><span class="s2033320CL">Purchase of nonqualified permissive service credit allowed.</span></p><p dir="ltr" class="s2033320Normal-000000"><span xml:space="preserve" class="s2033320DefaultParagraphFont">Notwithstanding the restrictions contained in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2033320DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="s2033320DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-509"><span class="s2033320DefaultParagraphFont">3-12C-509</span></a><span class="s2033320DefaultParagraphFont">, a current contributing member with over five years of contributory service in the system may purchase nonqualified permissive service credit as defined in and pursuant to the provisions of § 415(n) of the Internal Revenue Code.</span></p><p dir="ltr" class="s2033320Normal"><span xml:space="preserve" class="s2033320000001"> </span></p><p dir="ltr" class="s2033320Normal"><span class="s2033320SCL">Source:</span><span xml:space="preserve" class="s2033320SCL-000002"> SL 2003, ch 94, § 2; SL 2009, ch 21, § 1; SL 2013, ch 20, § 9; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-84.2"><span class="s2033320SCL-000002">3-12-84.2</span></a><span xml:space="preserve" class="s2033320SCL-000002"> SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033321Normal { 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.s2033321SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033321CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033321Normal-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.s2033321DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033321000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033321SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033321SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033321Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-512"><span class="s2033321SENU">3-12C-512</span></a><span xml:space="preserve" class="s2033321SENU">. </span><span class="s2033321CL">Acquisition of credited service for members mobilized into certain federal military service.</span></p><p dir="ltr" class="s2033321Normal-000000"><span xml:space="preserve" class="s2033321DefaultParagraphFont">If a contributing member was mobilized into federal military service pursuant to the provisions of United States Code Title 10 after February 1, 2002, but prior to September 30, 2004, the member, after returning to active membership in the system, may acquire credited service at the rates in effect prior to July 1, 2004, for a period of two years after the member's release from such federal military service, the cost provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2033321DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="s2033321DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-509"><span class="s2033321DefaultParagraphFont">3-12C-509</span></a><span xml:space="preserve" class="s2033321DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-518"><span class="s2033321DefaultParagraphFont">3-12C-518</span></a><span xml:space="preserve" class="s2033321DefaultParagraphFont"> notwithstanding. All other provisions in regard to credited service acquisition apply.</span></p><p dir="ltr" class="s2033321Normal"><span xml:space="preserve" class="s2033321000001"> </span></p><p dir="ltr" class="s2033321Normal"><span class="s2033321SCL">Source:</span><span xml:space="preserve" class="s2033321SCL-000002"> SL 2005, ch 25, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-84.3"><span class="s2033321SCL-000002">3-12-84.3</span></a><span class="s2033321SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033322Normal { 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.s2033322SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033322CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033322Normal-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.s2033322DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033322000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033322SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033322SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033322Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-513"><span class="s2033322SENU">3-12C-513</span></a><span xml:space="preserve" class="s2033322SENU">. </span><span class="s2033322CL">Service credit for leave of absence--Contributions to cover period of absence.</span></p><p dir="ltr" class="s2033322Normal-000000"><span xml:space="preserve" class="s2033322DefaultParagraphFont">A member taking a leave of absence authorized by the member's employer may receive credited service during the leave if employee and employer contributions are made to the system during the leave by or on behalf of the employee. The contributions shall be at the rates in effect during the leave and shall be based on the member's rate of compensation immediately prior to the leave. If a member's rate of compensation causes the member's compensation for the calendar year to exceed the maximum taxable amount for social security, the contributions shall include the additional contribution pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-402"><span class="s2033322DefaultParagraphFont">3-12C-402</span></a><span xml:space="preserve" class="s2033322DefaultParagraphFont">. The contributions shall be transmitted to the system at least monthly. For purposes of calculation of benefits, the member shall be considered to have received compensation during the period of the leave at the rate used to calculate the contributions made during the leave. If contributions are not made during the leave, the member may receive credited service for the leave by making contributions, or having contributions made on the member's behalf as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2033322DefaultParagraphFont">3-12C-504</span></a><span class="s2033322DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033322Normal"><span xml:space="preserve" class="s2033322000001"> </span></p><p dir="ltr" class="s2033322Normal"><span class="s2033322SCL">Source:</span><span xml:space="preserve" class="s2033322SCL-000002"> SL 1967, ch 303, § 9; SDCL § 3-12-31; SL 1968, ch 216, § 1; SL 1970, ch 25, § 9; SL 1973, ch 27; SL 1974, ch 35, § 42; SL 1980, ch 31, § 7; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-85"><span class="s2033322SCL-000002">3-12-85</span></a><span class="s2033322SCL-000002">; SL 2019, ch 22, § 1; SL 2019, ch 23, § 5.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s360eb77741924c5fb7b999fecb530260Normal { 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.s360eb77741924c5fb7b999fecb530260SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s360eb77741924c5fb7b999fecb530260CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s360eb77741924c5fb7b999fecb530260Statute { 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.s360eb77741924c5fb7b999fecb530260DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s360eb77741924c5fb7b999fecb530260000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s360eb77741924c5fb7b999fecb530260NoIndent { 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.s360eb77741924c5fb7b999fecb530260DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s360eb77741924c5fb7b999fecb530260SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-514 - Service credit for leave of absence--Qualified military service--Return to employment after discharge."><meta property="og:description" content="SDLRC Codified Law 3-12C-514 - Service credit for leave of absence--Qualified military service--Return to employment after discharge."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-514"><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="s360eb77741924c5fb7b999fecb530260Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-514" rel="noopener"><span class="s360eb77741924c5fb7b999fecb530260SENU">3-12C-514</span></a><span xml:space="preserve" class="s360eb77741924c5fb7b999fecb530260SENU">. </span><span class="s360eb77741924c5fb7b999fecb530260CL">Service credit for leave of absence--Qualified military service--Return to employment after discharge.</span></p><p dir="ltr" class="s360eb77741924c5fb7b999fecb530260Statute"><span class="s360eb77741924c5fb7b999fecb530260DefaultParagraphFont">A member must receive credited service for leave of absence due to qualified military service, authorized in advance by the employer, without contribution by the employee or employer, if the member returns to the employ of a participating unit within one year from the member's date of discharge from the member's initial period of qualified military service and if the member remains in the employ of a participating unit for at least one year. The member may not receive credited service for any voluntary extension of qualified military service at the instance of the member beyond the initial period of enlistment, induction, or call to active duty. Credited service granted under this section is only for the initial period that the member is performing qualified military service. No credited service granted under this section may be considered to represent either member contributions or an employer contributions for purposes of contribution withdrawals pursuant to this chapter.</span></p><p dir="ltr" class="s360eb77741924c5fb7b999fecb530260Statute"><span class="s360eb77741924c5fb7b999fecb530260DefaultParagraphFont">If the member returns to the employ of the member's employer unit within one year of discharge from the initial period of qualified military service but does not remain in the employ of the unit for at least one year, the member must be granted credited service for the initial period of qualified military service pursuant to § 414(u)(8) of the Internal Revenue Code if the member deposits with the system employee contributions for the initial period of the qualified military service as provided for in § 414(u)(8)(C). The contributions must be made in a lump sum, must be based on the member's compensation immediately prior to the leave of absence, and must be without interest. The participating unit that was the member's employer prior to the leave of absence shall deposit any employer contributions in an equal amount with the system. Notwithstanding other provisions of this chapter, the member need not be a contributing member at the time the member deposits the contributions. The member is subject to the time limitations for payment as provided for in § 414(u)(8)(C).</span></p><p dir="ltr" class="s360eb77741924c5fb7b999fecb530260Normal"><span xml:space="preserve" class="s360eb77741924c5fb7b999fecb530260000000"> </span></p><p dir="ltr" class="s360eb77741924c5fb7b999fecb530260NoIndent"><span xml:space="preserve" class="s360eb77741924c5fb7b999fecb530260DefaultParagraphFont-000001">Source: </span><span class="s360eb77741924c5fb7b999fecb530260SCL">SL 1970, ch 25, § 9; SDCL Supp, § 3-12-31; SL 1973, ch 27; SL 1974, ch 35, § 42; SL 1995, ch 24, § 12; SL 2008, ch 20, § 13; SL 2011, ch 20, § 2; SL 2013, ch 20, § 10; SDCL § 3-12-86; SL 2019, ch 22, § 1; SL 2025, ch 27, § 36.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033324Normal { 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.s2033324SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033324CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033324Normal-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.s2033324DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033324Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033324000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033324SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033324SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033324Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-515"><span class="s2033324SENU">3-12C-515</span></a><span xml:space="preserve" class="s2033324SENU">. </span><span class="s2033324CL">Death or disability of member on leave of absence due to qualified military service--Return to service date and benefits.</span></p><p dir="ltr" class="s2033324Normal-000000"><span xml:space="preserve" class="s2033324DefaultParagraphFont">If a member on leave of absence performing initial qualified military service dies, the member shall be considered to have returned from the leave of absence on the day before the member's death and become a contributing member for purposes of survivor benefits, if the member has at least one year of credited service before the member's death, including the initial period of qualified military service. If the member was contributing for additional survivor protection benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1001"><span class="s2033324DefaultParagraphFont">3-12C-1001</span></a><span xml:space="preserve" class="s2033324DefaultParagraphFont"> immediately before the leave of absence, the member shall be considered to have resumed the contributions on the day before the member's death.</span></p><p dir="ltr" class="s2033324Normal-000001"><span xml:space="preserve" class="s2033324DefaultParagraphFont">If a member on leave of absence performing initial qualified military service becomes disabled pursuant to the disability criteria set out in this chapter, the member shall be considered to have returned from the leave of absence on the day before the member's discharge date and become a contributing member for purposes of eligibility for disability benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-812"><span class="s2033324DefaultParagraphFont">3-12C-812</span></a><span xml:space="preserve" class="s2033324DefaultParagraphFont">, if the member has at least three years of credited service including the period of initial qualified military service. The provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-812"><span class="s2033324DefaultParagraphFont">3-12C-812</span></a><span xml:space="preserve" class="s2033324DefaultParagraphFont"> notwithstanding, the member need not have been deemed to be a contributing member on the date of the member's disabling event.</span></p><p dir="ltr" class="s2033324Normal"><span xml:space="preserve" class="s2033324000002"> </span></p><p dir="ltr" class="s2033324Normal"><span class="s2033324SCL">Source:</span><span xml:space="preserve" class="s2033324SCL-000003"> SL 2011, ch 20, § 3; SL 2016, ch 31, § 16; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-86.1"><span class="s2033324SCL-000003">3-12-86.1</span></a><span class="s2033324SCL-000003">; SL 2019, ch 22, §§ 16, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s1946e8b311e845fbbda0eff5d35c90fdNormal { 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.s1946e8b311e845fbbda0eff5d35c90fdSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1946e8b311e845fbbda0eff5d35c90fdCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s1946e8b311e845fbbda0eff5d35c90fdStatute { 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.s1946e8b311e845fbbda0eff5d35c90fdDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s1946e8b311e845fbbda0eff5d35c90fd000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s1946e8b311e845fbbda0eff5d35c90fdNoIndent { 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.s1946e8b311e845fbbda0eff5d35c90fdDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1946e8b311e845fbbda0eff5d35c90fdSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-516 - Members receiving differential wage payments."><meta property="og:description" content="SDLRC Codified Law 3-12C-516 - Members receiving differential wage payments."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-516"><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="s1946e8b311e845fbbda0eff5d35c90fdNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-516" rel="noopener"><span class="s1946e8b311e845fbbda0eff5d35c90fdSENU">3-12C-516</span></a><span xml:space="preserve" class="s1946e8b311e845fbbda0eff5d35c90fdSENU">. </span><span class="s1946e8b311e845fbbda0eff5d35c90fdCL">Members receiving differential wage payments.</span></p><p dir="ltr" class="s1946e8b311e845fbbda0eff5d35c90fdStatute"><span class="s1946e8b311e845fbbda0eff5d35c90fdDefaultParagraphFont">To the extent required by § 414(u)(12) of the Internal Revenue Code, a member receiving differential wage payments, as defined under § 3401(h)(2) of the Internal Revenue Code, from a member's employer shall be treated as employed by that employer, and the differential wage payment shall be treated as compensation for purposes of calculating final average compensation and applying the limits on annual additions under § 415(c) of the Internal Revenue Code. This provision shall be applied to all similarly situated members in a reasonably equivalent manner.</span></p><p dir="ltr" class="s1946e8b311e845fbbda0eff5d35c90fdNormal"><span xml:space="preserve" class="s1946e8b311e845fbbda0eff5d35c90fd000000"> </span></p><p dir="ltr" class="s1946e8b311e845fbbda0eff5d35c90fdNoIndent"><span xml:space="preserve" class="s1946e8b311e845fbbda0eff5d35c90fdDefaultParagraphFont-000001">Source: </span><span class="s1946e8b311e845fbbda0eff5d35c90fdSCL">SL 2016, ch 31, § 17; SDCL § 3-12-86.2; SL 2019, ch 22, § 1; SL 2023, ch 14, § 4.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080015Normal { 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.s2080015SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080015CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2080015Statute { 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.s2080015DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080015000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080015DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080015SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2080015Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-517"><span class="s2080015SENU">3-12C-517</span></a><span xml:space="preserve" class="s2080015SENU">. </span><span class="s2080015CL">Valuation of purchased prior service credit--Installment payments--Death of member--Adjustment when installments not paid.</span></p><p dir="ltr" class="s2080015Statute"><span xml:space="preserve" class="s2080015DefaultParagraphFont">Payment of a deposit with the system for credited service pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2080015DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="s2080015DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-514"><span class="s2080015DefaultParagraphFont">3-12C-514</span></a><span xml:space="preserve" class="s2080015DefaultParagraphFont">, inclusive, shall be determined and due at the time the notice of intention to make the payment is received by the system. The amount due may be paid by periodic, level installments over a period of up to ten years, the value of which, when discounted for interest at the assumed rate of return, is equal to the amount due at the date of the notice. If a member dies before completion of the installment payments, the surviving spouse may complete the payments due the system, but, unless the payments are being made by a participating unit, the amount shall be paid in full within ninety days of the member's death or retirement. If the periodic payments are not completed or paid when due, the executive director may make an appropriate adjustment to the credited service, benefits payable under this chapter, or schedule of payments to allow for the default. Any member participating in installment payments pursuant to this section before July 1, 1989, shall have the balance due on July 1, 1989, recalculated pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2080015DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="s2080015DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-509"><span class="s2080015DefaultParagraphFont">3-12C-509</span></a><span xml:space="preserve" class="s2080015DefaultParagraphFont"> and shall have the installment payments due after June 30, 1989, recalculated accordingly.</span></p><p dir="ltr" class="s2080015Normal"><span xml:space="preserve" class="s2080015000000"> </span></p><p dir="ltr" class="s2080015Normal"><span xml:space="preserve" class="s2080015DefaultParagraphFont-000001">Source: </span><span class="s2080015SCL">SL 1974, ch 35, § 43; SL 1977, ch 28, § 9; SL 1980, ch 31, § 6; SL 1989, ch 38, § 18; SL 1996, ch 30, § 4; SL 2008, ch 20, § 14; SL 2016, ch 31, § 18; SDCL § 3-12-87; SL 2019, ch 22, § 1; SL 2020, ch 12, § 12.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.se4cba731e121422e92c8bf14a226f268Normal { 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.se4cba731e121422e92c8bf14a226f268SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se4cba731e121422e92c8bf14a226f268CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.se4cba731e121422e92c8bf14a226f268Statute { 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.se4cba731e121422e92c8bf14a226f268DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se4cba731e121422e92c8bf14a226f268StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.se4cba731e121422e92c8bf14a226f268000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se4cba731e121422e92c8bf14a226f268NoIndent { 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.se4cba731e121422e92c8bf14a226f268DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se4cba731e121422e92c8bf14a226f268SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-518 - Class B public safety member--Conversion of credited service."><meta property="og:description" content="SDLRC Codified Law 3-12C-518 - Class B public safety member--Conversion of credited service."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-518"><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="se4cba731e121422e92c8bf14a226f268Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-518" rel="noopener"><span class="se4cba731e121422e92c8bf14a226f268SENU">3-12C-518</span></a><span xml:space="preserve" class="se4cba731e121422e92c8bf14a226f268SENU">. </span><span class="se4cba731e121422e92c8bf14a226f268CL">Class B public safety member--Conversion of credited service.</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268Statute"><span xml:space="preserve" class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">A current contributing Class B public safety member may convert the following credited services as a Class A member with benefits, as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1106" rel="noopener"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">, to a credited service as a Class B public safety member with benefits, as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1107" rel="noopener"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">3-12C-1107</span></a><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">:</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268StatuteNumber1"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">(1)    Credited service as a county sheriff or deputy county sheriff before January 1, 1980, or credited service as a county sheriff or deputy county sheriff while not certified from January 1, 1980, to June 30, 1988, inclusive;</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268StatuteNumber1"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">(2)    Credited service as a police officer while not certified from July 1, 1983, to June 30, 1988, inclusive;</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268StatuteNumber1"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">(3)    Credited service as a correctional security staff member before July 1, 1978;</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268StatuteNumber1"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">(4)    Credited service as a conservation officer before July 1, 1983;</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268StatuteNumber1"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">(5)    Credited service as a parole agent before July 1, 1991; and</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268StatuteNumber1"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">(6)    Credited service as an air rescue firefighter before July 1, 1992.</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268Statute"><span xml:space="preserve" class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">The current contributing Class B public safety member may, by election, make or have made on the member's behalf a contribution based on the higher of the member's current compensation, or the member's final average compensation calculated as if the member retired on the date of election, at an actuarially determined percentage times each year of service for which the member wishes to receive Class B credit. The provisions of this section also apply to a current contributing Class B public safety member who previously purchased equivalent public service pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-509" rel="noopener"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">3-12C-509</span></a><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">.</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268Statute"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">Payment of a deposit with the system for the conversion of credited service in accordance with this section must be determined and due at the time the notice of intention to make the payment is received by the system. The amount due may be paid by periodic level installments over a period of up to ten years, the value of which, if discounted for interest at the assumed rate of return, is equal to the amount due at the date of the notice. If a member dies before completion of the installment payments, the surviving spouse may complete the payments due to the system. However, if a member dies before completion of the installment payments and the payments are being made by a participating unit, the amount must be paid in full within ninety days of the member's death or retirement. If the periodic payments are not completed or paid when due, the executive director may make a pro rata adjustment to the credited service, benefits payable under this chapter, or schedule of payments to allow for the default.</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268Statute"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">If the credited service of any member or group of members becomes a Class B credited service on a prospective basis after June 30, 1993, the prior credited service as a Class A member may be converted to Class B credited service in accordance with this section.</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268Statute"><span class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont">If a jailer becomes a Class B public safety member, the jailer is eligible to convert prior credited service as a jailer under this section.</span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268Normal"><span xml:space="preserve" class="se4cba731e121422e92c8bf14a226f268000000"> </span></p><p dir="ltr" class="se4cba731e121422e92c8bf14a226f268NoIndent"><span xml:space="preserve" class="se4cba731e121422e92c8bf14a226f268DefaultParagraphFont-000001">Source: </span><span class="se4cba731e121422e92c8bf14a226f268SCL">SL 1993, ch 44, § 1; SL 1997, ch 27, § 3; SL 1999, ch 14, § 3; SL 2003, ch 24, § 1; SL 2004, ch 39, § 3; SL 2004, ch 40, § 9; SL 2008, ch 20, § 16; SL 2012, ch 26, § 12; SL 2016, ch 31, § 28; SL 2018, ch 32, § 6; SDCL § 3-12-130; SL 2019, ch 22, § 1; SL 2025, ch 27, § 37.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s4c8b52ef8bda4733985ecee12204fa0eNormal { 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.s4c8b52ef8bda4733985ecee12204fa0eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4c8b52ef8bda4733985ecee12204fa0eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s4c8b52ef8bda4733985ecee12204fa0eStatute { 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.s4c8b52ef8bda4733985ecee12204fa0eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s4c8b52ef8bda4733985ecee12204fa0e000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4c8b52ef8bda4733985ecee12204fa0eNoIndent { 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.s4c8b52ef8bda4733985ecee12204fa0eDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4c8b52ef8bda4733985ecee12204fa0eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-519 - Class B public safety member--Purchase of equivalent public service."><meta property="og:description" content="SDLRC Codified Law 3-12C-519 - Class B public safety member--Purchase of equivalent public service."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-519"><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="s4c8b52ef8bda4733985ecee12204fa0eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-519" rel="noopener"><span class="s4c8b52ef8bda4733985ecee12204fa0eSENU">3-12C-519</span></a><span xml:space="preserve" class="s4c8b52ef8bda4733985ecee12204fa0eSENU">. </span><span class="s4c8b52ef8bda4733985ecee12204fa0eCL">Class B public safety member--Purchase of equivalent public service.</span></p><p dir="ltr" class="s4c8b52ef8bda4733985ecee12204fa0eStatute"><span class="s4c8b52ef8bda4733985ecee12204fa0eDefaultParagraphFont">If a current contributing Class B public safety member of this system has equivalent public service for which the member is not entitled to retirement benefits from another public retirement system, the member may elect to deposit or have deposited on the member's behalf an amount equal to an actuarially determined percentage times the appropriate Class B rate of contribution multiplied by the higher of the member's annual compensation at the time of making the election, or the member's final average compensation calculated as if the member retired on the date of the election, for each year of equivalent public service for which the member wishes to receive credit as a Class B member.</span></p><p dir="ltr" class="s4c8b52ef8bda4733985ecee12204fa0eNormal"><span xml:space="preserve" class="s4c8b52ef8bda4733985ecee12204fa0e000000"> </span></p><p dir="ltr" class="s4c8b52ef8bda4733985ecee12204fa0eNoIndent"><span xml:space="preserve" class="s4c8b52ef8bda4733985ecee12204fa0eDefaultParagraphFont-000001">Source: </span><span class="s4c8b52ef8bda4733985ecee12204fa0eSCL">SL 1997, ch 27, § 2; SL 2004, ch 39, § 4; SL 2004, ch 40, § 10; SDCL § 3-12-130.1; SL 2019, ch 22, § 1; SL 2025, ch 27, § 38.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033329Normal { 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.s2033329SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033329CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033329Normal-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.s2033329DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033329000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033329SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033329SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033329Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-520"><span class="s2033329SENU">3-12C-520</span></a><span xml:space="preserve" class="s2033329SENU">. </span><span class="s2033329CL">Prior service credit on return of nonvested member to employment.</span></p><p dir="ltr" class="s2033329Normal-000000"><span class="s2033329DefaultParagraphFont">If a nonvested member who has terminated employment and has left the member's accumulated contributions in the system returns to employment with a participating unit, the system shall credit the member's prior service time toward the total length of service necessary for the member to obtain the credited service necessary for benefits provided by this chapter.</span></p><p dir="ltr" class="s2033329Normal"><span xml:space="preserve" class="s2033329000001"> </span></p><p dir="ltr" class="s2033329Normal"><span class="s2033329SCL">Source:</span><span xml:space="preserve" class="s2033329SCL-000002"> SL 1972, ch 22; SDCL Supp, § 3-12-32; SL 1974, ch 35, § 36; SL 1998, ch 18, § 3; SL 2008, ch 20, § 9; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-78"><span class="s2033329SCL-000002">3-12-78</span></a><span class="s2033329SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033330Normal { 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.s2033330SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033330CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033330Normal-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.s2033330DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033330000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033330SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033330SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033330Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-601"><span class="s2033330SENU">3-12C-601</span></a><span xml:space="preserve" class="s2033330SENU">. </span><span class="s2033330CL">Retirement benefit to terminated member with vested right--Calculation.</span></p><p dir="ltr" class="s2033330Normal-000000"><span class="s2033330DefaultParagraphFont">A terminated member who has a vested right in the system may leave the member's accumulated contributions on deposit with the system and receive a retirement benefit commencing at the member's retirement. In calculating such benefit, the member's final average compensation shall be increased by the COLA commencing each July first for each complete twelve-month period between the member's last termination and the date on which the member's retirement benefit commences.</span></p><p dir="ltr" class="s2033330Normal"><span xml:space="preserve" class="s2033330000001"> </span></p><p dir="ltr" class="s2033330Normal"><span class="s2033330SCL">Source:</span><span xml:space="preserve" class="s2033330SCL-000002"> SL 1974, ch 35, § 33; SL 1982, ch 32, § 4; SL 1986, ch 37, § 4; SL 1998, ch 17, § 3; SL 2004, ch 40, § 8; SL 2010, ch 20, § 9; SL 2017, ch 27, § 10; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-75"><span class="s2033330SCL-000002">3-12-75</span></a><span class="s2033330SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sd03ff23636424849b4183ac88a1c6754Normal { 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.sd03ff23636424849b4183ac88a1c6754SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd03ff23636424849b4183ac88a1c6754CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sd03ff23636424849b4183ac88a1c6754Statute { 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.sd03ff23636424849b4183ac88a1c6754DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sd03ff23636424849b4183ac88a1c6754000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sd03ff23636424849b4183ac88a1c6754NoIndent { 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.sd03ff23636424849b4183ac88a1c6754DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd03ff23636424849b4183ac88a1c6754SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-602 - Withdrawal of accumulated contributions on leaving covered employment--Spouse signature required--Effect--Limitation."><meta property="og:description" content="SDLRC Codified Law 3-12C-602 - Withdrawal of accumulated contributions on leaving covered employment--Spouse signature required--Effect--Limitation."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-602"><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="sd03ff23636424849b4183ac88a1c6754Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-602" rel="noopener"><span class="sd03ff23636424849b4183ac88a1c6754SENU">3-12C-602</span></a><span xml:space="preserve" class="sd03ff23636424849b4183ac88a1c6754SENU">. </span><span class="sd03ff23636424849b4183ac88a1c6754CL">Withdrawal of accumulated contributions on leaving covered employment--Spouse signature required--Effect--Limitation.</span></p><p dir="ltr" class="sd03ff23636424849b4183ac88a1c6754Statute"><span class="sd03ff23636424849b4183ac88a1c6754DefaultParagraphFont">A member who has left covered employment may withdraw the sum of the member's accumulated contributions upon application to the executive director, on a form approved by the system. If the member is married, the member's spouse must sign the form.</span></p><p dir="ltr" class="sd03ff23636424849b4183ac88a1c6754Statute"><span class="sd03ff23636424849b4183ac88a1c6754DefaultParagraphFont">A member who withdraws the member's accumulated contributions pursuant to this section forfeits all credited service and benefits provided in this chapter.</span></p><p dir="ltr" class="sd03ff23636424849b4183ac88a1c6754Statute"><span class="sd03ff23636424849b4183ac88a1c6754DefaultParagraphFont">The right to withdraw accumulated contributions ceases if the member returns to covered employment with a participating unit.</span></p><p dir="ltr" class="sd03ff23636424849b4183ac88a1c6754Normal"><span xml:space="preserve" class="sd03ff23636424849b4183ac88a1c6754000000"> </span></p><p dir="ltr" class="sd03ff23636424849b4183ac88a1c6754NoIndent"><span xml:space="preserve" class="sd03ff23636424849b4183ac88a1c6754DefaultParagraphFont-000001">Source: </span><span class="sd03ff23636424849b4183ac88a1c6754SCL">SL 1967, ch 303, § 8; SDCL § 3-12-30; SL 1968, ch 216, § 1; SL 1974, ch 35, § 34; SL 1977, ch 28, § 6; SL 1995, ch 24, § 13; SL 1998, ch 15, § 6; SL 2018, ch 33, § 9; SDCL § 3-12-76; SL 2019, ch 22, § 1; SL 2019, ch 23, § 4; SL 2021, ch 27, § 2; SL 2026, ch 24, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s76d0db2f0bcc4a7287ea6cdfd7934d1eNormal { 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.s76d0db2f0bcc4a7287ea6cdfd7934d1eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s76d0db2f0bcc4a7287ea6cdfd7934d1eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s76d0db2f0bcc4a7287ea6cdfd7934d1eStatute { 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.s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s76d0db2f0bcc4a7287ea6cdfd7934d1e000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s76d0db2f0bcc4a7287ea6cdfd7934d1eNoIndent { 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.s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s76d0db2f0bcc4a7287ea6cdfd7934d1eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-603 - Distribution by direct rollover--Promulgation of rules."><meta property="og:description" content="SDLRC Codified Law 3-12C-603 - Distribution by direct rollover--Promulgation of rules."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-603"><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="s76d0db2f0bcc4a7287ea6cdfd7934d1eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-603" rel="noopener"><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eSENU">3-12C-603</span></a><span xml:space="preserve" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eSENU">. </span><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eCL">Distribution by direct rollover--Promulgation of rules.</span></p><p dir="ltr" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eStatute"><span xml:space="preserve" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">A member who elects to withdraw accumulated contributions, as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-602" rel="noopener"><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">3-12C-602</span></a><span xml:space="preserve" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">, or a member's surviving spouse or nonspouse beneficiary who receives a lump-sum payment pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-409" rel="noopener"><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">3-12C-409</span></a><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">, may receive the distribution directly. An eligible rollover distribution may be transferred by the system in a direct rollover to no more than one eligible retirement plan under § 401, 403(b), 408, 408A, or 457(b) of the Internal Revenue Code, as identified by a member or a member's surviving spouse if the individual so elects. A member's nonspouse beneficiary may transfer a portion or all of the member's account by rollover to an eligible plan under § 408 or 408A.</span></p><p dir="ltr" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eStatute"><span xml:space="preserve" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">The board shall promulgate rules pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=1-26" rel="noopener"><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">1-26</span></a><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">, to comply with federal mandates regarding rollover distributions.</span></p><p dir="ltr" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eStatute"><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont">The system is not required to make an independent determination as to whether the plan identified by a member, surviving spouse, or nonspouse beneficiary qualifies as an eligible retirement plan. By electing a direct rollover and identifying the eligible retirement plan to which an eligible rollover distribution is to be made, a member, surviving spouse, or nonspouse beneficiary represents to the system that the identified plan qualifies as an eligible retirement plan. If a member, surviving spouse, or nonspouse beneficiary does not elect a direct rollover, the distribution must be issued in the name of, and directly to, that individual.</span></p><p dir="ltr" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eNormal"><span xml:space="preserve" class="s76d0db2f0bcc4a7287ea6cdfd7934d1e000000"> </span></p><p dir="ltr" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eNoIndent"><span xml:space="preserve" class="s76d0db2f0bcc4a7287ea6cdfd7934d1eDefaultParagraphFont-000001">Source: </span><span class="s76d0db2f0bcc4a7287ea6cdfd7934d1eSCL">SL 1993, ch 42, § 5; SL 1995, ch 24, § 17; SL 1998, ch 15, § 7; SL 2009, ch 20, § 2; SDCL § 3-12-76.3; SL 2019, ch 22, § 1; SL 2025, ch 27, § 39.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033333Normal { 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.s2033333SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033333CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033333Normal-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.s2033333DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033333000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033333SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033333SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033333Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-604"><span class="s2033333SENU">3-12C-604</span></a><span xml:space="preserve" class="s2033333SENU">. </span><span class="s2033333CL">Contributions left in system on termination of employment without vested right--Maximum period--Forfeiture.</span></p><p dir="ltr" class="s2033333Normal-000000"><span xml:space="preserve" class="s2033333DefaultParagraphFont">A member of the system who is not vested may leave the member's accumulated contributions in the system upon termination of employment for a period not to exceed ten years from the date of termination. However, no additional contributions may be made to the system by the member or a participating unit following the date of termination and no benefits in the retirement system may accrue to a member of the system following the date of termination, except as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-310"><span class="s2033333DefaultParagraphFont">3-12C-310</span></a><span class="s2033333DefaultParagraphFont">. If the member withdraws the member's accumulated contributions, membership in the system terminates. At the end of the ten-year period, no further interest may be credited with respect to contributions and no further investment return may be credited with respect to any variable retirement account. If the member fails to withdraw the member's accumulated contributions within eleven years following the member's termination, the member shall forfeit all rights to the member's accumulated contributions, variable retirement account, and to any credited service in connection therewith, if the system has made reasonable efforts to notify the member of the member's withdrawal rights and the effect of this section.</span></p><p dir="ltr" class="s2033333Normal"><span xml:space="preserve" class="s2033333000001"> </span></p><p dir="ltr" class="s2033333Normal"><span class="s2033333SCL">Source:</span><span xml:space="preserve" class="s2033333SCL-000002"> SL 1972, ch 22; SDCL Supp, § 3-12-32; SL 1974, ch 35, § 35; SL 1984, ch 24, § 1; SL 1998, ch 15, § 8; SL 1998, ch 18, § 2; SL 2016, ch 32, § 33; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-77"><span class="s2033333SCL-000002">3-12-77</span></a><span class="s2033333SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033334Normal { 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.s2033334SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033334CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033334Normal-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.s2033334DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033334000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033334SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033334SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033334Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-605"><span class="s2033334SENU">3-12C-605</span></a><span xml:space="preserve" class="s2033334SENU">. </span><span class="s2033334CL">Uncollected payments from system--Reversion.</span></p><p dir="ltr" class="s2033334Normal-000000"><span class="s2033334DefaultParagraphFont">If any payment from the system remains uncollected, the payment shall revert to the system and all rights to the payment shall terminate, if the system has made reasonable efforts to notify the person entitled to the payment of the person's right to the payment and the effect of this section.</span></p><p dir="ltr" class="s2033334Normal"><span xml:space="preserve" class="s2033334000001"> </span></p><p dir="ltr" class="s2033334Normal"><span class="s2033334SCL">Source:</span><span xml:space="preserve" class="s2033334SCL-000002"> SL 1984, ch 24, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-77.1"><span class="s2033334SCL-000002">3-12-77.1</span></a><span class="s2033334SCL-000002">; SL 2019, ch 22, §§ 20, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033335Normal { 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.s2033335SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033335CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033335Normal-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.s2033335DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033335000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033335SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033335SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033335Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-606"><span class="s2033335SENU">3-12C-606</span></a><span xml:space="preserve" class="s2033335SENU">. </span><span class="s2033335CL">Reinstatement of terminated rights.</span></p><p dir="ltr" class="s2033335Normal-000000"><span xml:space="preserve" class="s2033335DefaultParagraphFont">Any rights which have terminated pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-604"><span class="s2033335DefaultParagraphFont">3-12C-604</span></a><span xml:space="preserve" class="s2033335DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-605"><span class="s2033335DefaultParagraphFont">3-12C-605</span></a><span xml:space="preserve" class="s2033335DefaultParagraphFont"> may be reinstated upon presentation to the executive director of a request for reinstatement of those rights and competent evidence of the rights.</span></p><p dir="ltr" class="s2033335Normal"><span xml:space="preserve" class="s2033335000001"> </span></p><p dir="ltr" class="s2033335Normal"><span class="s2033335SCL">Source:</span><span xml:space="preserve" class="s2033335SCL-000002"> SL 1984, ch 24, § 4; SL 2016, ch 31, § 13; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-77.3"><span class="s2033335SCL-000002">3-12-77.3</span></a><span class="s2033335SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033336Normal { 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.s2033336SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033336CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033336Normal-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.s2033336DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033336000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033336SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033336SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033336Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-607"><span class="s2033336SENU">3-12C-607</span></a><span xml:space="preserve" class="s2033336SENU">. </span><span class="s2033336CL">Early withdrawal precludes additional refund.</span></p><p dir="ltr" class="s2033336Normal-000000"><span class="s2033336DefaultParagraphFont">No member or former member of the system who has withdrawn contributions from the system before July 1, 1998, may receive any additional refund pursuant to this chapter.</span></p><p dir="ltr" class="s2033336Normal"><span xml:space="preserve" class="s2033336000001"> </span></p><p dir="ltr" class="s2033336Normal"><span class="s2033336SCL">Source:</span><span xml:space="preserve" class="s2033336SCL-000002"> SL 1998, ch 15, § 31; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-77.4"><span class="s2033336SCL-000002">3-12-77.4</span></a><span class="s2033336SCL-000002">; SL 2019, ch 22, §§ 21, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083203Normal { 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.s2083203SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083203CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083203Statute { 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.s2083203DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083203000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083203NoIndent { 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.s2083203DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083203SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083203Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-608"><span class="s2083203SENU">3-12C-608</span></a><span xml:space="preserve" class="s2083203SENU">. </span><span xml:space="preserve" class="s2083203CL">Eligibility for benefits upon becoming full-time employee within twelve months after withdrawal. </span></p><p dir="ltr" class="s2083203Statute"><span xml:space="preserve" class="s2083203DefaultParagraphFont">Notwithstanding any provision of this chapter to the contrary, whenever a member withdraws accumulated contributions under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-602"><span class="s2083203DefaultParagraphFont">3-12C-602</span></a><span xml:space="preserve" class="s2083203DefaultParagraphFont"> and becomes a full-time employee within twelve months after withdrawal, contributions must have been made to the system for a period of twelve consecutive months before the member is eligible for benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-901"><span class="s2083203DefaultParagraphFont">3-12C-901</span></a><span xml:space="preserve" class="s2083203DefaultParagraphFont">. The member shall furthermore be ineligible to apply for additional survivor protection pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1001"><span class="s2083203DefaultParagraphFont">3-12C-1001</span></a><span xml:space="preserve" class="s2083203DefaultParagraphFont"> as a new member of the system. To be eligible for a disability benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-803"><span class="s2083203DefaultParagraphFont">3-12C-803</span></a><span xml:space="preserve" class="s2083203DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-812"><span class="s2083203DefaultParagraphFont">3-12C-812</span></a><span class="s2083203DefaultParagraphFont">, the member must have at least three years of contributory service since the date of the last withdrawal unless the member was disabled by accidental means while performing the usual duties for the employer.</span></p><p dir="ltr" class="s2083203Normal"><span xml:space="preserve" class="s2083203000000"> </span></p><p dir="ltr" class="s2083203NoIndent"><span xml:space="preserve" class="s2083203DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083203SCL">SL 1993, ch 39, § 2; SL 2014, ch 20, § 31; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-131"><span class="s2083203SCL">3-12-131</span></a><span class="s2083203SCL">; SL 2019, ch 22, § 1; SL 2021, ch 29, § 13, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033338Normal { 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.s2033338SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033338CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033338Normal-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.s2033338DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033338000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033338SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033338SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033338Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-701"><span class="s2033338SENU">3-12C-701</span></a><span xml:space="preserve" class="s2033338SENU">. </span><span class="s2033338CL">Benefits only payable monthly--Lump-sum payments prohibited unless specified.</span></p><p dir="ltr" class="s2033338Normal-000000"><span class="s2033338DefaultParagraphFont">A member in the system may claim the benefits provided for in this chapter only in the form of a monthly benefit payment and only after such time as these benefits are payable. Unless otherwise specifically provided, no member or a former member of the system may receive a lump-sum cash payment in lieu of the normal retirement benefit.</span></p><p dir="ltr" class="s2033338Normal"><span xml:space="preserve" class="s2033338000001"> </span></p><p dir="ltr" class="s2033338Normal"><span class="s2033338SCL">Source:</span><span xml:space="preserve" class="s2033338SCL-000002"> SL 1967, ch 303, § 8; SDCL § 3-12-29; SL 1968, ch 216, § 1; SL 1970, ch 25, § 7; SL 1974, ch 35, § 66; SL 2017, ch 27, § 22; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-112"><span class="s2033338SCL-000002">3-12-112</span></a><span class="s2033338SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s6d35a13fa443495ab0a694ac7cd3e966Normal { 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.s6d35a13fa443495ab0a694ac7cd3e966SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s6d35a13fa443495ab0a694ac7cd3e966CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s6d35a13fa443495ab0a694ac7cd3e966Statute { 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.s6d35a13fa443495ab0a694ac7cd3e966DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s6d35a13fa443495ab0a694ac7cd3e966000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s6d35a13fa443495ab0a694ac7cd3e966NoIndent { 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.s6d35a13fa443495ab0a694ac7cd3e966DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s6d35a13fa443495ab0a694ac7cd3e966SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-702 - Individual s birthday for purposes of eligibility."><meta property="og:description" content="SDLRC Codified Law 3-12C-702 - Individual s birthday for purposes of eligibility."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-702"><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="s6d35a13fa443495ab0a694ac7cd3e966Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-702" rel="noopener"><span class="s6d35a13fa443495ab0a694ac7cd3e966SENU">3-12C-702</span></a><span xml:space="preserve" class="s6d35a13fa443495ab0a694ac7cd3e966SENU">. </span><span class="s6d35a13fa443495ab0a694ac7cd3e966CL">Individual s birthday for purposes of eligibility.</span></p><p dir="ltr" class="s6d35a13fa443495ab0a694ac7cd3e966Statute"><span class="s6d35a13fa443495ab0a694ac7cd3e966DefaultParagraphFont">For purposes of determining eligibility for, and the amount of, any benefit payable pursuant to this chapter, the first day of the month in which an individual's birthday falls is considered the individual's birthday.</span></p><p dir="ltr" class="s6d35a13fa443495ab0a694ac7cd3e966Normal"><span xml:space="preserve" class="s6d35a13fa443495ab0a694ac7cd3e966000000"> </span></p><p dir="ltr" class="s6d35a13fa443495ab0a694ac7cd3e966NoIndent"><span xml:space="preserve" class="s6d35a13fa443495ab0a694ac7cd3e966DefaultParagraphFont-000001">Source: </span><span class="s6d35a13fa443495ab0a694ac7cd3e966SCL">SL 2016, ch 32, § 55; SDCL § 3-12-47.9; SL 2019, ch 22, § 1; SL 2025, ch 27, § 40.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sc1c7a07d7bb046ef899a58e0fad55255Normal { 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.sc1c7a07d7bb046ef899a58e0fad55255SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc1c7a07d7bb046ef899a58e0fad55255CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sc1c7a07d7bb046ef899a58e0fad55255Statute { 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.sc1c7a07d7bb046ef899a58e0fad55255DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sc1c7a07d7bb046ef899a58e0fad55255000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc1c7a07d7bb046ef899a58e0fad55255NoIndent { 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.sc1c7a07d7bb046ef899a58e0fad55255DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc1c7a07d7bb046ef899a58e0fad55255SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-703 - COLA applied to benefits--COLA elimination."><meta property="og:description" content="SDLRC Codified Law 3-12C-703 - COLA applied to benefits--COLA elimination."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-703"><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="sc1c7a07d7bb046ef899a58e0fad55255Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-703" rel="noopener"><span class="sc1c7a07d7bb046ef899a58e0fad55255SENU">3-12C-703</span></a><span xml:space="preserve" class="sc1c7a07d7bb046ef899a58e0fad55255SENU">. </span><span class="sc1c7a07d7bb046ef899a58e0fad55255CL">COLA applied to benefits--COLA elimination.</span></p><p dir="ltr" class="sc1c7a07d7bb046ef899a58e0fad55255Statute"><span xml:space="preserve" class="sc1c7a07d7bb046ef899a58e0fad55255DefaultParagraphFont">The COLA payable must be applied annually to all benefits except those based on the member's accumulated contributions, variable retirement account, or contribution credit. The COLA must be eliminated for any period of time that a retired member reenters covered employment in the system, unless the member retired as a Class B public safety member and subsequently has reentered covered employment as a Class A member, or the member retired without a benefit suspension pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1402" rel="noopener"><span class="sc1c7a07d7bb046ef899a58e0fad55255DefaultParagraphFont">3-12C-1402</span></a><span class="sc1c7a07d7bb046ef899a58e0fad55255DefaultParagraphFont">, and then reentered active status before July 1, 2004. The elimination of the COLA must cease when the member again retires and draws either a refund or an additional retirement benefit.</span></p><p dir="ltr" class="sc1c7a07d7bb046ef899a58e0fad55255Normal"><span xml:space="preserve" class="sc1c7a07d7bb046ef899a58e0fad55255000000"> </span></p><p dir="ltr" class="sc1c7a07d7bb046ef899a58e0fad55255NoIndent"><span xml:space="preserve" class="sc1c7a07d7bb046ef899a58e0fad55255DefaultParagraphFont-000001">Source: </span><span class="sc1c7a07d7bb046ef899a58e0fad55255SCL">SL 1974, ch 35, § 44; SL 2004, ch 38, § 2; SL 2005, ch 26, § 1; SL 2017, ch 27, § 12; SDCL § 3-12-88; SL 2019, ch 22, § 1; SL 2021, ch 26, § 2; SL 2025, ch 27, § 41.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s341c02b972784780a5191b87ad7ade2bNormal { 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.s341c02b972784780a5191b87ad7ade2bSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s341c02b972784780a5191b87ad7ade2bCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s341c02b972784780a5191b87ad7ade2bStatute { 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.s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s341c02b972784780a5191b87ad7ade2bStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s341c02b972784780a5191b87ad7ade2b000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s341c02b972784780a5191b87ad7ade2bNoIndent { 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.s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s341c02b972784780a5191b87ad7ade2bSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-704 - Determination of COLA payable."><meta property="og:description" content="SDLRC Codified Law 3-12C-704 - Determination of COLA payable."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-704"><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="s341c02b972784780a5191b87ad7ade2bNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-704" rel="noopener"><span class="s341c02b972784780a5191b87ad7ade2bSENU">3-12C-704</span></a><span xml:space="preserve" class="s341c02b972784780a5191b87ad7ade2bSENU">. </span><span class="s341c02b972784780a5191b87ad7ade2bCL">Determination of COLA payable.</span></p><p dir="ltr" class="s341c02b972784780a5191b87ad7ade2bStatute"><span class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">The COLA payable is the baseline COLA or the restricted COLA, as applicable. The baseline COLA is equal to the increase in the consumer price index, but no less than zero percent and no greater than three and one-half percent. The restricted COLA is equal to the increase in the consumer price index, but no less than zero percent and no greater than the restricted COLA maximum as determined in subdivision (2) of this section. The board shall establish the COLA payable for each fiscal year, based on the fair value funded ratio and the minimum actuarial requirement to support benefits as of the prior July first and the increase in the consumer price index for the preceding third calendar quarter compared to the consumer price index for the third calendar quarter for the base year (the previous year in which the consumer price index was the highest), by utilizing one of the following subdivisions, as applicable:</span></p><p dir="ltr" class="s341c02b972784780a5191b87ad7ade2bStatuteNumber1"><span xml:space="preserve" class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">(1)    If the system meets the criteria in subdivisions </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-228" rel="noopener"><span class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">3-12C-228</span></a><span class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">(1) and (2) based on the baseline COLA assumption adopted by the board, the COLA payable is the baseline COLA; or</span></p><p dir="ltr" class="s341c02b972784780a5191b87ad7ade2bStatuteNumber1"><span xml:space="preserve" class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">(2)    If the system does not meet the criteria in subdivisions </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-228" rel="noopener"><span class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">3-12C-228</span></a><span xml:space="preserve" class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">(1) and (2) based on the baseline COLA assumption adopted by the board, the system shall calculate a restricted COLA maximum in accordance with the board's funding policy that is equal to the actuarially determined annual COLA rate that results in the criteria in subdivisions </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-228" rel="noopener"><span class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">3-12C-228</span></a><span xml:space="preserve" class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">(1) and (2) being satisfied, if achievable. The COLA payable is the restricted COLA. If the criteria in subdivisions </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-228" rel="noopener"><span class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">3-12C-228</span></a><span class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont">(1) and (2) cannot be satisfied, the COLA payable is zero percent.</span></p><p dir="ltr" class="s341c02b972784780a5191b87ad7ade2bNormal"><span xml:space="preserve" class="s341c02b972784780a5191b87ad7ade2b000000"> </span></p><p dir="ltr" class="s341c02b972784780a5191b87ad7ade2bNoIndent"><span xml:space="preserve" class="s341c02b972784780a5191b87ad7ade2bDefaultParagraphFont-000001">Source: </span><span class="s341c02b972784780a5191b87ad7ade2bSCL">SL 2019, ch 22, § 23; SL 2021, ch 26, § 3; SL 2023, ch 16, § 4.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033342Normal { 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.s2033342SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033342CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033342Normal-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.s2033342DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033342000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033342SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033342SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033342Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-705"><span class="s2033342SENU">3-12C-705</span></a><span xml:space="preserve" class="s2033342SENU">. </span><span class="s2033342CL">Date of application of prorated payment of COLA.</span></p><p dir="ltr" class="s2033342Normal-000000"><span class="s2033342DefaultParagraphFont">Application of prorated payment of the COLA applies only to benefits which were first payable after July 1, 1998, but before July 1, 2010.</span></p><p dir="ltr" class="s2033342Normal"><span xml:space="preserve" class="s2033342000001"> </span></p><p dir="ltr" class="s2033342Normal"><span class="s2033342SCL">Source:</span><span xml:space="preserve" class="s2033342SCL-000002"> SL 2010, ch 20, § 8; SL 2017, ch 27, § 5; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-47.4"><span class="s2033342SCL-000002">3-12-47.4</span></a><span class="s2033342SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033343Normal { 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.s2033343SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033343CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033343Normal-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.s2033343DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033343000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033343SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033343SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033343Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-706"><span class="s2033343SENU">3-12C-706</span></a><span xml:space="preserve" class="s2033343SENU">. </span><span class="s2033343CL">Modified monthly benefit permitted.</span></p><p dir="ltr" class="s2033343Normal-000000"><span class="s2033343DefaultParagraphFont">The board may provide under its rules for a modified monthly benefit to a member or beneficiary in lieu of the monthly benefit payable under any provision of this chapter if the benefit is not greater than the actuarial equivalent of the benefit due the member or beneficiary under this chapter.</span></p><p dir="ltr" class="s2033343Normal"><span xml:space="preserve" class="s2033343000001"> </span></p><p dir="ltr" class="s2033343Normal"><span class="s2033343SCL">Source:</span><span xml:space="preserve" class="s2033343SCL-000002"> SL 1968, ch 216, § 1; SDCL Supp, § 3-12-41; SL 1970, ch 25, § 11; SL 1974, ch 35, § 62; SL 2017, ch 27, § 18; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-108"><span class="s2033343SCL-000002">3-12-108</span></a><span class="s2033343SCL-000002">; SL 2019, ch 22, §§ 24, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033344Normal { 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.s2033344SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033344CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033344Normal-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.s2033344DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033344000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033344SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033344SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033344Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-707"><span class="s2033344SENU">3-12C-707</span></a><span xml:space="preserve" class="s2033344SENU">. </span><span class="s2033344CL">Highest annual compensation .</span></p><p dir="ltr" class="s2033344Normal-000000"><span xml:space="preserve" class="s2033344DefaultParagraphFont">To calculate benefits pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-805"><span class="s2033344DefaultParagraphFont">3-12C-805</span></a><span xml:space="preserve" class="s2033344DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-901"><span class="s2033344DefaultParagraphFont">3-12C-901</span></a><span xml:space="preserve" class="s2033344DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1004"><span class="s2033344DefaultParagraphFont">3-12C-1004</span></a><span xml:space="preserve" class="s2033344DefaultParagraphFont"> before July 1, 2004, the system shall use the member's highest annual compensation earned by the member during any one of the last three years of contributory service, so long as it is not more than one hundred fifteen percent of the member's final compensation calculated as of the date of the member's death or disability.</span></p><p dir="ltr" class="s2033344Normal"><span xml:space="preserve" class="s2033344000001"> </span></p><p dir="ltr" class="s2033344Normal"><span class="s2033344SCL">Source:</span><span xml:space="preserve" class="s2033344SCL-000002"> SL 2019, ch 22, § 25.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033345Normal { 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.s2033345SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033345CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033345Normal-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.s2033345DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033345000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033345SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033345SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033345Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-708"><span class="s2033345SENU">3-12C-708</span></a><span xml:space="preserve" class="s2033345SENU">. </span><span class="s2033345CL">Time of termination of benefits.</span></p><p dir="ltr" class="s2033345Normal-000000"><span class="s2033345DefaultParagraphFont">Monthly benefits paid to a member cease on the last day of the month in which the member died. Monthly benefits paid to a surviving spouse cease on the last day of the month in which the surviving spouse died. Monthly benefits paid to a child cease on the last day of the month in which the child died or the last day of the month in which the child became ineligible, whichever occurs first.</span></p><p dir="ltr" class="s2033345Normal"><span xml:space="preserve" class="s2033345000001"> </span></p><p dir="ltr" class="s2033345Normal"><span class="s2033345SCL">Source:</span><span xml:space="preserve" class="s2033345SCL-000002"> SL 1974, ch 35, § 67; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-113"><span class="s2033345SCL-000002">3-12-113</span></a><span class="s2033345SCL-000002">; SL 2019, ch 22, §§ 40, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033346Normal { 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.s2033346SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033346CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033346Normal-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.s2033346DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033346000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033346SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033346SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033346Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-709"><span class="s2033346SENU">3-12C-709</span></a><span xml:space="preserve" class="s2033346SENU">. </span><span class="s2033346CL">Duplicate benefits prohibited unless from another member's contributions.</span></p><p dir="ltr" class="s2033346Normal-000000"><span class="s2033346DefaultParagraphFont">No person shall be entitled to receive a benefit provided under more than one provision of this chapter at one time, unless such benefit is derived from the contributions of another member.</span></p><p dir="ltr" class="s2033346Normal"><span xml:space="preserve" class="s2033346000001"> </span></p><p dir="ltr" class="s2033346Normal"><span class="s2033346SCL">Source:</span><span xml:space="preserve" class="s2033346SCL-000002"> SL 1974, ch 35, § 63; SL 1977, ch 28, § 13; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-109"><span class="s2033346SCL-000002">3-12-109</span></a><span class="s2033346SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033347Normal { 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.s2033347SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033347CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033347Normal-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.s2033347DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033347000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033347SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033347SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033347Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-710"><span class="s2033347SENU">3-12C-710</span></a><span xml:space="preserve" class="s2033347SENU">. </span><span class="s2033347CL">Member who leaves employment--Spouse and minor children.</span></p><p dir="ltr" class="s2033347Normal-000000"><span class="s2033347DefaultParagraphFont">A member who leaves the employment of a participating unit is not entitled to disability benefits and the member's surviving spouse and minor children are not entitled to any benefits pursuant to this chapter.</span></p><p dir="ltr" class="s2033347Normal"><span xml:space="preserve" class="s2033347000001"> </span></p><p dir="ltr" class="s2033347Normal"><span class="s2033347SCL">Source:</span><span xml:space="preserve" class="s2033347SCL-000002"> SL 2019, ch 22, § 22.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sc765e42ebe864f1190a8a5ad2edb70c5Normal { 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.sc765e42ebe864f1190a8a5ad2edb70c5SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc765e42ebe864f1190a8a5ad2edb70c5CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sc765e42ebe864f1190a8a5ad2edb70c5Statute { 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.sc765e42ebe864f1190a8a5ad2edb70c5DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sc765e42ebe864f1190a8a5ad2edb70c5000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc765e42ebe864f1190a8a5ad2edb70c5NoIndent { 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.sc765e42ebe864f1190a8a5ad2edb70c5DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc765e42ebe864f1190a8a5ad2edb70c5SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-711 - Maximum annual benefit--Promulgation of rules--Tax qualification--Limitation year defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-711 - Maximum annual benefit--Promulgation of rules--Tax qualification--Limitation year defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-711"><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="sc765e42ebe864f1190a8a5ad2edb70c5Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-711" rel="noopener"><span class="sc765e42ebe864f1190a8a5ad2edb70c5SENU">3-12C-711</span></a><span xml:space="preserve" class="sc765e42ebe864f1190a8a5ad2edb70c5SENU">. </span><span class="sc765e42ebe864f1190a8a5ad2edb70c5CL">Maximum annual benefit--Promulgation of rules--Tax qualification--Limitation year defined.</span></p><p dir="ltr" class="sc765e42ebe864f1190a8a5ad2edb70c5Statute"><span xml:space="preserve" class="sc765e42ebe864f1190a8a5ad2edb70c5DefaultParagraphFont">The board may promulgate rules, in accordance with chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=1-26" rel="noopener"><span class="sc765e42ebe864f1190a8a5ad2edb70c5DefaultParagraphFont">1-26</span></a><span class="sc765e42ebe864f1190a8a5ad2edb70c5DefaultParagraphFont">, to regulate the maximum annual benefit that may be paid to a member. The rules must be consistent with maintaining the tax qualification of the system. No benefit may exceed the limitations imposed by § 415 of the Internal Revenue Code, as indexed pursuant to § 415(d)(1) of the Internal Revenue Code.</span></p><p dir="ltr" class="sc765e42ebe864f1190a8a5ad2edb70c5Statute"><span class="sc765e42ebe864f1190a8a5ad2edb70c5DefaultParagraphFont">For purposes of administering the limitations imposed by § 415, "limitation year" means a period extending from July first of one calendar year through June thirtieth of the following calendar year.</span></p><p dir="ltr" class="sc765e42ebe864f1190a8a5ad2edb70c5Normal"><span xml:space="preserve" class="sc765e42ebe864f1190a8a5ad2edb70c5000000"> </span></p><p dir="ltr" class="sc765e42ebe864f1190a8a5ad2edb70c5NoIndent"><span xml:space="preserve" class="sc765e42ebe864f1190a8a5ad2edb70c5DefaultParagraphFont-000001">Source: </span><span class="sc765e42ebe864f1190a8a5ad2edb70c5SCL">SL 1984, ch 23, § 6; SL 1996, ch 29, § 2; SL 1997, ch 32, § 2; SL 2002, ch 22, § 3; SL 2013, ch 20, § 1; SDCL § 3-12-89.1; SL 2019, ch 22, § 1; SL 2025, ch 27, § 42.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.se43c508b0397454185948f0b0b8f468eNormal { 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.se43c508b0397454185948f0b0b8f468eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se43c508b0397454185948f0b0b8f468eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.se43c508b0397454185948f0b0b8f468eStatute { 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.se43c508b0397454185948f0b0b8f468eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.se43c508b0397454185948f0b0b8f468e000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se43c508b0397454185948f0b0b8f468eNoIndent { 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.se43c508b0397454185948f0b0b8f468eDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se43c508b0397454185948f0b0b8f468eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-711.1 - Maximum annual benefit--Applicability of limits."><meta property="og:description" content="SDLRC Codified Law 3-12C-711.1 - Maximum annual benefit--Applicability of limits."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-711.1"><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="se43c508b0397454185948f0b0b8f468eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-711.1" rel="noopener"><span class="se43c508b0397454185948f0b0b8f468eSENU">3-12C-711.1</span></a><span xml:space="preserve" class="se43c508b0397454185948f0b0b8f468eSENU">. </span><span class="se43c508b0397454185948f0b0b8f468eCL">Maximum annual benefit--Applicability of limits.</span></p><p dir="ltr" class="se43c508b0397454185948f0b0b8f468eStatute"><span class="se43c508b0397454185948f0b0b8f468eDefaultParagraphFont">If a member has been credited with less than ten years of credited service, the maximum annual retirement benefit must be reduced by multiplying the maximum annual pension by a fraction, the numerator of which is the number of the member's years of credited service and the denominator of which is ten.</span></p><p dir="ltr" class="se43c508b0397454185948f0b0b8f468eStatute"><span class="se43c508b0397454185948f0b0b8f468eDefaultParagraphFont">The limits as provided by § 415 of the Internal Revenue Code apply to a straight life annuity with no ancillary benefits and to an annuity that constitutes a qualified joint and survivor annuity, provided payment begins between ages sixty-two and sixty-five. The limits do not apply to any portion of a benefit resulting from required member contributions made on an after-tax basis.</span></p><p dir="ltr" class="se43c508b0397454185948f0b0b8f468eStatute"><span class="se43c508b0397454185948f0b0b8f468eDefaultParagraphFont">If payment begins before age sixty-two, the limits are reduced so they are actuarially equivalent to a benefit beginning at age sixty-two.</span></p><p dir="ltr" class="se43c508b0397454185948f0b0b8f468eStatute"><span class="se43c508b0397454185948f0b0b8f468eDefaultParagraphFont">For a police officer or firefighter who is a member of the system, the limit may not be reduced for retirement before age sixty-two, regardless of retirement age, provided that the member has completed at least fifteen years of credited service.</span></p><p dir="ltr" class="se43c508b0397454185948f0b0b8f468eStatute"><span xml:space="preserve" class="se43c508b0397454185948f0b0b8f468eDefaultParagraphFont">If a member's benefit is limited by the maximum annual retirement benefit, the member may be eligible for a benefit as determined by § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="se43c508b0397454185948f0b0b8f468eDefaultParagraphFont">3-12C-1805</span></a><span class="se43c508b0397454185948f0b0b8f468eDefaultParagraphFont">. The interest assumption for purposes of determining actuarial equivalency under this section is five percent annually. The mortality assumption is the applicable mortality table under § 417(e)(3) of the Internal Revenue Code.</span></p><p dir="ltr" class="se43c508b0397454185948f0b0b8f468eNormal"><span xml:space="preserve" class="se43c508b0397454185948f0b0b8f468e000000"> </span></p><p dir="ltr" class="se43c508b0397454185948f0b0b8f468eNoIndent"><span xml:space="preserve" class="se43c508b0397454185948f0b0b8f468eDefaultParagraphFont-000001">Source: </span><span class="se43c508b0397454185948f0b0b8f468eSCL">SL 2025, ch 27, § 43.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033349Normal { 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.s2033349SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033349CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033349Normal-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.s2033349DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033349000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033349SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033349SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033349Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-712"><span class="s2033349SENU">3-12C-712</span></a><span xml:space="preserve" class="s2033349SENU">. </span><span class="s2033349CL">Compensation limits in Internal Revenue Code § 401(a)(17) .</span></p><p dir="ltr" class="s2033349Normal-000000"><span class="s2033349DefaultParagraphFont">Any compensation in excess of the limits established in § 401(a)(17) of the Internal Revenue Code shall be disregarded for purposes of contributions and benefit calculations under the system. Any benefit calculations for members subject to the limits established in § 401(a)(17) of the Internal Revenue Code but for whom the limitation on compensation did not apply before January 1, 2018, shall be based on unlimited compensation for credited service before January 1, 2018, and limited compensation for credited service as of January 1, 2018.</span></p><p dir="ltr" class="s2033349Normal"><span xml:space="preserve" class="s2033349000001"> </span></p><p dir="ltr" class="s2033349Normal"><span class="s2033349SCL">Source:</span><span xml:space="preserve" class="s2033349SCL-000002"> SL 2017, ch 28, § 3, eff. Jan. 1, 2018; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-47.12"><span class="s2033349SCL-000002">3-12-47.12</span></a><span class="s2033349SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083177Normal { 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.s2083177SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083177CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083177Statute { 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.s2083177DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083177Statute-000000 { text-indent: 0.25in; 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.s2083177000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083177NoIndent { 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.s2083177DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083177SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-713 - Contribution credit defined--Payment of contribution credit and credited investment return."><meta property="og:description" content="SDLRC Codified Law 3-12C-713 - Contribution credit defined--Payment of contribution credit and credited investment return."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-713"><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="s2083177Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-713" rel="noopener"><span class="s2083177SENU">3-12C-713</span></a><span xml:space="preserve" class="s2083177SENU">. </span><span xml:space="preserve" class="s2083177CL">Contribution credit defined--Payment of contribution credit and credited investment return. </span></p><p dir="ltr" class="s2083177Statute"><span xml:space="preserve" class="s2083177DefaultParagraphFont">For purposes of this section, the term, contribution credit, means the employer and member contributions, reduced by any variable retirement contributions, on compensation not included in the computation of final average compensation as a result of the final average compensation limits provided pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1104" rel="noopener"><span class="s2083177DefaultParagraphFont">3-12C-1104</span></a><span xml:space="preserve" class="s2083177DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1202" rel="noopener"><span class="s2083177DefaultParagraphFont">3-12C-1202</span></a><span class="s2083177DefaultParagraphFont">.</span></p><p dir="ltr" class="s2083177Statute-000000"><span class="s2083177DefaultParagraphFont">The contribution credit plus the credited investment return on the contribution credit is payable at the retirement, disability, or death of the member. The credited investment return, which shall be credited annually as of June thirtieth, is the South Dakota Investment Council's reported money-weighted investment return of the system, net of fees, for the completed fiscal year. Any contribution credit made during the fiscal year shall receive one-half year's credited investment return for that year. For any account distributed during the fiscal year, the estimated investment return shall be credited to the end of the month before the date on which the contribution credit is paid.</span></p><p dir="ltr" class="s2083177Statute-000000"><span class="s2083177DefaultParagraphFont">The contribution credit plus credited investment return is payable to the member commencing a retirement benefit or a disability benefit three consecutive calendar months after the effective date of the benefit. The contribution credit plus credited investment return is payable to a member's child who is eligible for a family benefit or a member's spouse who is eligible for a surviving spouse benefit, upon the death of the member. No contribution credit is payable to any member who withdraws accumulated contributions from the system or to any beneficiary who receives a lump sum payment of accumulated contributions. For the purpose of paying a distribution, the amount payable is the total of contribution credit plus credited investment return or the total contribution credit, whichever is greater. The amount may be paid in a lump sum, rolled over to the South Dakota deferred compensation plan, rolled over to another eligible plan, or used to purchase a supplemental pension benefit. However, the purchase of a supplemental pension benefit is only available upon the member's retirement.</span></p><p dir="ltr" class="s2083177Normal"><span xml:space="preserve" class="s2083177000001"> </span></p><p dir="ltr" class="s2083177NoIndent"><span xml:space="preserve" class="s2083177DefaultParagraphFont-000002">Source: </span><span xml:space="preserve" class="s2083177SCL">SL 2017, ch 29, § 7; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-47.11" rel="noopener"><span class="s2083177SCL">3-12-47.11</span></a><span class="s2083177SCL">; SL 2019, ch 22, § 1; SL 2021, ch 27, § 3.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033351Normal { 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.s2033351SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033351CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033351Normal-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.s2033351DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033351000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033351SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033351SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033351Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-801"><span class="s2033351SENU">3-12C-801</span></a><span xml:space="preserve" class="s2033351SENU">. </span><span class="s2033351CL">Criteria for determining disability--Uniform application.</span></p><p dir="ltr" class="s2033351Normal-000000"><span class="s2033351DefaultParagraphFont">The Board of Trustees shall set the criteria for determining the disability of members. Methods of disability determination shall be applied uniformly and consistently to all members applying for the disability benefits.</span></p><p dir="ltr" class="s2033351Normal"><span xml:space="preserve" class="s2033351000001"> </span></p><p dir="ltr" class="s2033351Normal"><span class="s2033351SCL">Source:</span><span xml:space="preserve" class="s2033351SCL-000002"> SL 1974, ch 35, § 54; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-100"><span class="s2033351SCL-000002">3-12-100</span></a><span class="s2033351SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033352Normal { 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.s2033352SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033352CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033352Normal-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.s2033352DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033352000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033352SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033352SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033352Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-802"><span class="s2033352SENU">3-12C-802</span></a><span xml:space="preserve" class="s2033352SENU">. </span><span class="s2033352CL">Disability documentation inadmissible for proceedings relative to workers' compensation.</span></p><p dir="ltr" class="s2033352Normal-000000"><span class="s2033352DefaultParagraphFont">An application for disability benefits pursuant to this chapter, any associated evidence and documents, and the disability determination and decision related thereto shall be inadmissible and nondeterminative for any associated proceeding relative to Title 62.</span></p><p dir="ltr" class="s2033352Normal"><span xml:space="preserve" class="s2033352000001"> </span></p><p dir="ltr" class="s2033352Normal"><span class="s2033352SCL">Source:</span><span xml:space="preserve" class="s2033352SCL-000002"> SL 1995, ch 23, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-142"><span class="s2033352SCL-000002">3-12-142</span></a><span class="s2033352SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033353Normal { 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.s2033353SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033353CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033353Normal-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.s2033353DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033353000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033353SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033353SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033353Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-803"><span class="s2033353SENU">3-12C-803</span></a><span xml:space="preserve" class="s2033353SENU">. </span><span class="s2033353CL">Disability benefits eligibility--Applications before July 1, 2015--Required information--Filing deadline.</span></p><p dir="ltr" class="s2033353Normal-000000"><span class="s2033353DefaultParagraphFont">A contributing member who becomes disabled and who has acquired at least three years of contributory service or noncontributory service since the member's most recent entry into active status and prior to becoming disabled or was disabled by accidental means while performing usual duties for an employer, is eligible for a disability benefit if the disability is expected to be of long, continued, and indefinite duration of at least one year. In order to be eligible for a disability benefit, a member must be disabled on the date the member's contributory service ends. Any member who fails to file an application for disability benefits with the executive director within three years after the date the member's contributory service ends, forfeits all rights to disability benefits. Any information required for a complete application must be received within one year after the application for disability benefits was received. If the required information is not received by the system within one year after the application is received, the member may reapply. For purposes of this section, a transfer within a participating unit, or a change in employment from one participating unit to another participating unit if there is no break in contributory service, does not constitute a new entry into active status. The provisions of this section apply to any member whose application for disability benefits is received by the system before July 1, 2015.</span></p><p dir="ltr" class="s2033353Normal"><span xml:space="preserve" class="s2033353000001"> </span></p><p dir="ltr" class="s2033353Normal"><span class="s2033353SCL">Source:</span><span xml:space="preserve" class="s2033353SCL-000002"> SL 1974, ch 35, § 52; SL 1977, ch 28, § 11; SL 1979, ch 30, § 2; SL 1980, ch 31, § 3; SL 1992, ch 3; SL 2004, ch 37, § 3; SL 2005, ch 24, § 5; SL 2014, ch 20, § 24; SL 2016, ch 31, § 21; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-98"><span class="s2033353SCL-000002">3-12-98</span></a><span class="s2033353SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s60a0869433ae462abe92316bcd788a39Normal { 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.s60a0869433ae462abe92316bcd788a39SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s60a0869433ae462abe92316bcd788a39CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s60a0869433ae462abe92316bcd788a39Statute { 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.s60a0869433ae462abe92316bcd788a39DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s60a0869433ae462abe92316bcd788a39000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s60a0869433ae462abe92316bcd788a39NoIndent { 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.s60a0869433ae462abe92316bcd788a39DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s60a0869433ae462abe92316bcd788a39SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-804 - Employer certification--Unable to accommodate."><meta property="og:description" content="SDLRC Codified Law 3-12C-804 - Employer certification--Unable to accommodate."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-804"><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="s60a0869433ae462abe92316bcd788a39Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-804" rel="noopener"><span class="s60a0869433ae462abe92316bcd788a39SENU">3-12C-804</span></a><span xml:space="preserve" class="s60a0869433ae462abe92316bcd788a39SENU">. </span><span class="s60a0869433ae462abe92316bcd788a39CL">Employer certification--Unable to accommodate.</span></p><p dir="ltr" class="s60a0869433ae462abe92316bcd788a39Statute"><span xml:space="preserve" class="s60a0869433ae462abe92316bcd788a39DefaultParagraphFont">No application for disability benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-803" rel="noopener"><span class="s60a0869433ae462abe92316bcd788a39DefaultParagraphFont">3-12C-803</span></a><span class="s60a0869433ae462abe92316bcd788a39DefaultParagraphFont">, may be determined until the employer has certified to the system that, within the employer's understanding of the member's medical condition and the employer's knowledge of the member's employment requirements and duties, the employer is unable to provide to the member either effective accommodations in the member's current position or a comparable level position.</span></p><p dir="ltr" class="s60a0869433ae462abe92316bcd788a39Normal"><span xml:space="preserve" class="s60a0869433ae462abe92316bcd788a39000000"> </span></p><p dir="ltr" class="s60a0869433ae462abe92316bcd788a39NoIndent"><span xml:space="preserve" class="s60a0869433ae462abe92316bcd788a39DefaultParagraphFont-000001">Source: </span><span class="s60a0869433ae462abe92316bcd788a39SCL">SL 1995, ch 23, § 2; SL 2006, ch 19, § 2; SL 2014, ch 20, § 32; SDCL § 3-12-141; SL 2019, ch 22, § 1; SL 2025, ch 27, § 44.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033355Normal { 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.s2033355SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033355CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033355Normal-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.s2033355DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033355Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033355000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033355SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033355SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033355Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-805"><span class="s2033355SENU">3-12C-805</span></a><span xml:space="preserve" class="s2033355SENU">. </span><span class="s2033355CL">Amount of monthly disability benefit--Applications before July 1, 2015.</span></p><p dir="ltr" class="s2033355Normal-000000"><span class="s2033355DefaultParagraphFont">The disability benefit for the first thirty-six months shall be equal to fifty percent of the member's final average compensation immediately preceding the date of disability, increased by ten percent of such compensation for each child to a maximum of four such children.</span></p><p dir="ltr" class="s2033355Normal-000001"><span class="s2033355DefaultParagraphFont">Starting with the thirty-seventh month, if the member is eligible for and receiving disability benefits from social security, the disability benefit from the system is equal to the greater of the amount paid during the first thirty-six months less the amount of primary social security or the amount of the member's unreduced accrued retirement benefit as of the date of disability. If the member's unreduced accrued retirement benefit is the greater, it is immediately payable by the system notwithstanding any other provisions to the contrary. In no event may the annual amount of a disability benefit be less than twenty percent of the compensation on which the initial disability benefit was based.</span></p><p dir="ltr" class="s2033355Normal-000001"><span class="s2033355DefaultParagraphFont">Starting with the thirty-seventh month, if the member is not eligible for and receiving disability benefits from social security, the disability benefit from the system is equal to the greater of twenty percent of the compensation on which the initial disability benefit was based or the amount of the member's unreduced accrued retirement benefit as of the date of disability. If the member's unreduced accrued retirement benefit is the greater, it is immediately payable by the system notwithstanding any other provisions to the contrary. The disability benefit shall be paid only in the form of monthly installments. The provisions of this section apply to any member whose application for disability benefits is received by the system prior to July 1, 2015.</span></p><p dir="ltr" class="s2033355Normal"><span xml:space="preserve" class="s2033355000002"> </span></p><p dir="ltr" class="s2033355Normal"><span class="s2033355SCL">Source:</span><span xml:space="preserve" class="s2033355SCL-000003"> SL 1974, ch 35, § 53; SL 1994, ch 32, § 3; SL 2004, ch 40, § 2; SL 2014, ch 20, § 25; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-99"><span class="s2033355SCL-000003">3-12-99</span></a><span class="s2033355SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033356Normal { 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.s2033356SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033356CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033356Normal-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.s2033356DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033356000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033356SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033356SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033356Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-806"><span class="s2033356SENU">3-12C-806</span></a><span xml:space="preserve" class="s2033356SENU">. </span><span class="s2033356CL">Elimination or addition of disability benefit pertaining to children--Applications before July 1, 2015.</span></p><p dir="ltr" class="s2033356Normal-000000"><span xml:space="preserve" class="s2033356DefaultParagraphFont">That portion of a disability benefit that is payable on account of children shall be eliminated as each child becomes ineligible. However, the portion of a disability benefit that is payable on account of children shall increase if a disabled member gains an additional child who is eligible. All other provisions in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-807"><span class="s2033356DefaultParagraphFont">3-12C-807</span></a><span xml:space="preserve" class="s2033356DefaultParagraphFont"> do not apply to members receiving a disability benefit pursuant to this chapter. The provisions of this section apply to any member whose application for disability benefits is received by the system before July 1, 2015.</span></p><p dir="ltr" class="s2033356Normal"><span xml:space="preserve" class="s2033356000001"> </span></p><p dir="ltr" class="s2033356Normal"><span class="s2033356SCL">Source:</span><span xml:space="preserve" class="s2033356SCL-000002"> SL 1994, ch 32, § 4; SL 2011, ch 22, § 1; SL 2014, ch 20, § 26; SL 2016, ch 31, § 22; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-99.1"><span class="s2033356SCL-000002">3-12-99.1</span></a><span class="s2033356SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033357Normal { 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.s2033357SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033357CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033357Normal-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.s2033357DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033357Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033357000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033357SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033357SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033357Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-807"><span class="s2033357SENU">3-12C-807</span></a><span xml:space="preserve" class="s2033357SENU">. </span><span class="s2033357CL">Deduction of other public benefits from disability benefit--Reduction when children become ineligible--Applications before July 1, 2015.</span></p><p dir="ltr" class="s2033357Normal-000000"><span class="s2033357DefaultParagraphFont">Disability benefits shall be reduced by an amount equal to the unmodified benefits paid or payable under other public systems. Disability benefits payable on account of children shall be reduced when children become ineligible. In no event may the annual amount of a disability benefit be less than the greater of six percent of the compensation on which the disability benefit is based or six hundred dollars a year.</span></p><p dir="ltr" class="s2033357Normal-000001"><span class="s2033357DefaultParagraphFont">However, any disability benefit effective prior to July 1, 1994, and payable on or after that date may not be reduced by any benefit payable on account of a veteran's disability or from any insured or self-insured short-term disability plan sponsored by an employer and paid for by the employee or paid for under a salary reduction plan. Further, any disability benefit effective prior to July 1, 1994, and payable on or after July 1, 1995, may not be reduced by any benefit payable on account of a federal military retirement or a federal national guard retirement. The provisions of this section apply to any member whose application for disability benefits is received by the system prior to July 1, 2015.</span></p><p dir="ltr" class="s2033357Normal"><span xml:space="preserve" class="s2033357000002"> </span></p><p dir="ltr" class="s2033357Normal"><span class="s2033357SCL">Source:</span><span xml:space="preserve" class="s2033357SCL-000003"> SL 1974, ch 35, § 55; SL 1986, ch 37, § 7; SL 1993, ch 43, §§ 1, 2; SL 1994, ch 36; SL 1995, ch 20; SL 2014, ch 20, § 27; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-101"><span class="s2033357SCL-000003">3-12-101</span></a><span class="s2033357SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s778040db5db64f658da6ec8461f92930Normal { 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.s778040db5db64f658da6ec8461f92930SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s778040db5db64f658da6ec8461f92930CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s778040db5db64f658da6ec8461f92930Statute { 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.s778040db5db64f658da6ec8461f92930DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s778040db5db64f658da6ec8461f92930000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s778040db5db64f658da6ec8461f92930NoIndent { 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.s778040db5db64f658da6ec8461f92930DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s778040db5db64f658da6ec8461f92930SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-808 - Conversion of disability benefit to retirement benefit--Credited service--Applications before July 1, 2015."><meta property="og:description" content="SDLRC Codified Law 3-12C-808 - Conversion of disability benefit to retirement benefit--Credited service--Applications before July 1, 2015."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-808"><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="s778040db5db64f658da6ec8461f92930Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-808" rel="noopener"><span class="s778040db5db64f658da6ec8461f92930SENU">3-12C-808</span></a><span xml:space="preserve" class="s778040db5db64f658da6ec8461f92930SENU">. </span><span class="s778040db5db64f658da6ec8461f92930CL">Conversion of disability benefit to retirement benefit--Credited service--Applications before July 1, 2015.</span></p><p dir="ltr" class="s778040db5db64f658da6ec8461f92930Statute"><span class="s778040db5db64f658da6ec8461f92930DefaultParagraphFont">When a member who is receiving a disability benefit reaches age sixty-five, or at a later date if there are no eligible children, or if over age sixty at the time of commencement of disability, after a period of five years, the member's disability benefit must be terminated and thereafter the member must receive the benefit payable for service retirement at that age, calculated on the projected compensation and projected service. If a member who received a disability benefit returns to employment prior to normal retirement age, the member's credited service must include the time of disability.</span></p><p dir="ltr" class="s778040db5db64f658da6ec8461f92930Statute"><span class="s778040db5db64f658da6ec8461f92930DefaultParagraphFont">If a member receiving a disability benefit ceases to be disabled, elects to convert to a retirement benefit, or is converted to a retirement benefit pursuant to this section, the disability benefit is terminated. The member shall receive credited service for the period that the member receives a disability benefit, except as provided for in this section, and not beyond the member s normal retirement age.</span></p><p dir="ltr" class="s778040db5db64f658da6ec8461f92930Statute"><span class="s778040db5db64f658da6ec8461f92930DefaultParagraphFont">The provisions of this section apply to any member whose application for disability benefits is received by the system prior to July 1, 2015.</span></p><p dir="ltr" class="s778040db5db64f658da6ec8461f92930Normal"><span xml:space="preserve" class="s778040db5db64f658da6ec8461f92930000000"> </span></p><p dir="ltr" class="s778040db5db64f658da6ec8461f92930NoIndent"><span xml:space="preserve" class="s778040db5db64f658da6ec8461f92930DefaultParagraphFont-000001">Source: </span><span class="s778040db5db64f658da6ec8461f92930SCL">SL 1974, ch 35, § 57; SL 1992, ch 33; SL 2014, ch 20, § 28; SDCL § 3-12-103; SL 2019, ch 22, § 1; SL 2025, ch 27, § 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sa32f1f8e9e3241e38775eb38f2d5bdf9Normal { 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.sa32f1f8e9e3241e38775eb38f2d5bdf9SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa32f1f8e9e3241e38775eb38f2d5bdf9CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sa32f1f8e9e3241e38775eb38f2d5bdf9Statute { 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.sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sa32f1f8e9e3241e38775eb38f2d5bdf9StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sa32f1f8e9e3241e38775eb38f2d5bdf9000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sa32f1f8e9e3241e38775eb38f2d5bdf9NoIndent { 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.sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa32f1f8e9e3241e38775eb38f2d5bdf9SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-809 - Termination of disability benefit--Conversion to retirement benefit--Applications before July 1, 2015."><meta property="og:description" content="SDLRC Codified Law 3-12C-809 - Termination of disability benefit--Conversion to retirement benefit--Applications before July 1, 2015."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-809"><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="sa32f1f8e9e3241e38775eb38f2d5bdf9Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-809" rel="noopener"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9SENU">3-12C-809</span></a><span xml:space="preserve" class="sa32f1f8e9e3241e38775eb38f2d5bdf9SENU">. </span><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9CL">Termination of disability benefit--Conversion to retirement benefit--Applications before July 1, 2015.</span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9Statute"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">A member's disability benefit that was based on an application received by the system prior to July 1, 2015, must terminate thirty days after the earliest of the following:</span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9StatuteNumber1"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">(1)    The member is no longer disabled;</span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9StatuteNumber1"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">(2)    The member is no longer subject to the medical condition that caused the disability;</span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9StatuteNumber1"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">(3)    The member refuses to undergo a medical examination requested by the system for the purpose of reviewing the medical condition that caused the disability;</span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9StatuteNumber1"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">(4)    The member returns to continuous employment in the position the member held prior to becoming disabled; or</span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9StatuteNumber1"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">(5)    The member returns to continuous employment, including self employment and employment by an employer that is not a participating unit, in a comparable level position to what the member held prior to becoming disabled.</span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9Statute"><span xml:space="preserve" class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">A member's disability benefit must terminate immediately if the member elects to convert to a retirement benefit or if the member's disability benefit is converted to a service retirement benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-808" rel="noopener"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">3-12C-808</span></a><span xml:space="preserve" class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">. The member shall receive credited service for the period that the member received a disability benefit, but except as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-808" rel="noopener"><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">3-12C-808</span></a><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont">, not beyond the member's normal retirement age.</span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9Normal"><span xml:space="preserve" class="sa32f1f8e9e3241e38775eb38f2d5bdf9000000"> </span></p><p dir="ltr" class="sa32f1f8e9e3241e38775eb38f2d5bdf9NoIndent"><span xml:space="preserve" class="sa32f1f8e9e3241e38775eb38f2d5bdf9DefaultParagraphFont-000001">Source: </span><span class="sa32f1f8e9e3241e38775eb38f2d5bdf9SCL">SL 2006, ch 19, § 1; SL 2014, ch 20, § 29; SDCL § 3-12-103.1; SL 2019, ch 22, § 1; SL 2025, ch 27, § 46.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033360Normal { 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.s2033360SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033360CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033360Normal-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.s2033360DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033360Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033360000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033360SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033360SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033360Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-810"><span class="s2033360SENU">3-12C-810</span></a><span xml:space="preserve" class="s2033360SENU">. </span><span class="s2033360CL">Maximum amount of disability benefit--Reporting earned income--Applications before July 1, 2015.</span></p><p dir="ltr" class="s2033360Normal-000000"><span xml:space="preserve" class="s2033360DefaultParagraphFont">For the first thirty-six months of a disability benefit provided by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-805"><span class="s2033360DefaultParagraphFont">3-12C-805</span></a><span xml:space="preserve" class="s2033360DefaultParagraphFont">, the maximum amount a member may receive in any calendar year from the disability benefit and earned income, as defined in § 32(c)(2) of the Internal Revenue Code, is one hundred percent of the member's final average compensation. Starting with the thirty-seventh month of the disability benefit, the maximum amount that a member may receive in any calendar year from disability benefits provided by the federal Social Security Act equal to the primary insurance amount, the disability benefit provided by this chapter and earned income, as defined in § 32(c)(2) of the Internal Revenue Code, is one hundred percent of the member's final average compensation. The maximum amount shall be indexed for each full fiscal year during which the member is eligible for such disability benefit by the COLA. Any amount exceeding this maximum amount shall reduce each monthly disability benefit payable pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-805"><span class="s2033360DefaultParagraphFont">3-12C-805</span></a><span xml:space="preserve" class="s2033360DefaultParagraphFont"> in the following fiscal year on a pro rata basis.</span></p><p dir="ltr" class="s2033360Normal-000001"><span xml:space="preserve" class="s2033360DefaultParagraphFont">Any member eligible to receive a disability benefit shall report to the system in writing any earned income of the member. The report shall be filed with the system before June first following the end of each calendar year in which a disability benefit is paid. A disabled member may file a signed copy of the member's individual income tax return in lieu of the report. No report or return need be filed for the calendar year the member dies or converts to a normal or early retirement benefit under this chapter. The disability benefit of any member failing to file a report or return as required in this section shall be suspended until the report or return is filed. The reduction may occur, however, only if a disability benefit is being paid by the system, but may not reduce the disability benefit below the minimum provided for in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-805"><span class="s2033360DefaultParagraphFont">3-12C-805</span></a><span class="s2033360DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033360Normal-000001"><span xml:space="preserve" class="s2033360DefaultParagraphFont">This section applies to any member receiving or entitled to receive a disability benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-803"><span class="s2033360DefaultParagraphFont">3-12C-803</span></a><span class="s2033360DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033360Normal"><span xml:space="preserve" class="s2033360000002"> </span></p><p dir="ltr" class="s2033360Normal"><span class="s2033360SCL">Source:</span><span xml:space="preserve" class="s2033360SCL-000003"> SL 1995, ch 23, §§ 4, 5; SL 2004, ch 40, § 4; SL 2012, ch 26, § 13; SL 2013, ch 20, § 12; SL 2014, ch 20, § 33; SL 2016, ch 31, § 29; SL 2017, ch 27, § 27; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-143"><span class="s2033360SCL-000003">3-12-143</span></a><span class="s2033360SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033361Normal { 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.s2033361SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033361CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033361Normal-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.s2033361DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033361000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033361SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033361SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033361Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-811"><span class="s2033361SENU">3-12C-811</span></a><span xml:space="preserve" class="s2033361SENU">. </span><span class="s2033361CL">Disability benefits for applications received after June 30, 2015 .</span></p><p dir="ltr" class="s2033361Normal-000000"><span xml:space="preserve" class="s2033361DefaultParagraphFont">The provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-812"><span class="s2033361DefaultParagraphFont">3-12C-812</span></a><span xml:space="preserve" class="s2033361DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-828"><span class="s2033361DefaultParagraphFont">3-12C-828</span></a><span class="s2033361DefaultParagraphFont">, inclusive, apply to any member whose application for disability benefits is received by the system after June 30, 2015.</span></p><p dir="ltr" class="s2033361Normal"><span xml:space="preserve" class="s2033361000001"> </span></p><p dir="ltr" class="s2033361Normal"><span class="s2033361SCL">Source:</span><span xml:space="preserve" class="s2033361SCL-000002"> SL 2019, ch 22, § 27.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033362Normal { 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.s2033362SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033362CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033362Normal-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.s2033362DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033362000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033362SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033362SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033362Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-812"><span class="s2033362SENU">3-12C-812</span></a><span xml:space="preserve" class="s2033362SENU">. </span><span class="s2033362CL">Disability benefits eligibility .</span></p><p dir="ltr" class="s2033362Normal-000000"><span class="s2033362DefaultParagraphFont">A contributing member who becomes disabled and who has acquired at least three years of contributory service or noncontributory service since the member's most recent entry into active status and before becoming disabled, or was disabled by accidental means while performing usual duties for an employer, is eligible for disability benefits if the disability is expected to be of long, continued, and indefinite duration of at least one year and the member is disabled on the date the member's contributory service ends. For purposes of this section, a transfer within a participating unit, or a change in employment from one participating unit to another participating unit if there is no break in contributory service, does not constitute a new entry into active status.</span></p><p dir="ltr" class="s2033362Normal"><span xml:space="preserve" class="s2033362000001"> </span></p><p dir="ltr" class="s2033362Normal"><span class="s2033362SCL">Source:</span><span xml:space="preserve" class="s2033362SCL-000002"> SL 2014, ch 20, § 1; SL 2016, ch 31, § 36; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-201"><span class="s2033362SCL-000002">3-12-201</span></a><span class="s2033362SCL-000002">; SL 2019, ch 22, §§ 28, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033363Normal { 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.s2033363SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033363CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033363Normal-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.s2033363DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033363Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033363000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033363SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033363SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033363Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-813"><span class="s2033363SENU">3-12C-813</span></a><span xml:space="preserve" class="s2033363SENU">. </span><span class="s2033363CL">Application for disability benefits--Required information--Filing deadline.</span></p><p dir="ltr" class="s2033363Normal-000000"><span xml:space="preserve" class="s2033363DefaultParagraphFont">Any member seeking disability benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-812"><span class="s2033363DefaultParagraphFont">3-12C-812</span></a><span xml:space="preserve" class="s2033363DefaultParagraphFont"> shall submit an application to the executive director. Any information required for a complete application must be received within one year after the application for disability benefits was received. If the required information is not received by the system within one year after the application is received, the member may reapply.</span></p><p dir="ltr" class="s2033363Normal-000001"><span class="s2033363DefaultParagraphFont">Any member, who fails to file an application for disability benefits with the executive director within three years after the date the member's contributory service ends, forfeits all rights to disability benefits.</span></p><p dir="ltr" class="s2033363Normal"><span xml:space="preserve" class="s2033363000002"> </span></p><p dir="ltr" class="s2033363Normal"><span class="s2033363SCL">Source:</span><span xml:space="preserve" class="s2033363SCL-000003"> SL 2014, ch 20, § 2; SL 2016, ch 31, § 37; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-202"><span class="s2033363SCL-000003">3-12-202</span></a><span class="s2033363SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sd220befc069a40c5be9c8cfcbdf0a207Normal { 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.sd220befc069a40c5be9c8cfcbdf0a207SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd220befc069a40c5be9c8cfcbdf0a207CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sd220befc069a40c5be9c8cfcbdf0a207Statute { 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.sd220befc069a40c5be9c8cfcbdf0a207DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sd220befc069a40c5be9c8cfcbdf0a207000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sd220befc069a40c5be9c8cfcbdf0a207NoIndent { 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.sd220befc069a40c5be9c8cfcbdf0a207DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd220befc069a40c5be9c8cfcbdf0a207SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-814 - Employer information--Employment history and accommodations."><meta property="og:description" content="SDLRC Codified Law 3-12C-814 - Employer information--Employment history and accommodations."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-814"><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="sd220befc069a40c5be9c8cfcbdf0a207Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-814" rel="noopener"><span class="sd220befc069a40c5be9c8cfcbdf0a207SENU">3-12C-814</span></a><span xml:space="preserve" class="sd220befc069a40c5be9c8cfcbdf0a207SENU">. </span><span class="sd220befc069a40c5be9c8cfcbdf0a207CL">Employer information--Employment history and accommodations.</span></p><p dir="ltr" class="sd220befc069a40c5be9c8cfcbdf0a207Statute"><span xml:space="preserve" class="sd220befc069a40c5be9c8cfcbdf0a207DefaultParagraphFont">No application for disability benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-812" rel="noopener"><span class="sd220befc069a40c5be9c8cfcbdf0a207DefaultParagraphFont">3-12C-812</span></a><span xml:space="preserve" class="sd220befc069a40c5be9c8cfcbdf0a207DefaultParagraphFont"> may be determined until the member's employer has submitted a completed form and supporting documentation that provides the member's position, usual duties of the position, any modifications or accommodations provided, and the member's employment history with the employer.</span></p><p dir="ltr" class="sd220befc069a40c5be9c8cfcbdf0a207Normal"><span xml:space="preserve" class="sd220befc069a40c5be9c8cfcbdf0a207000000"> </span></p><p dir="ltr" class="sd220befc069a40c5be9c8cfcbdf0a207NoIndent"><span xml:space="preserve" class="sd220befc069a40c5be9c8cfcbdf0a207DefaultParagraphFont-000001">Source: </span><span class="sd220befc069a40c5be9c8cfcbdf0a207SCL">SL 2014, ch 20, § 3; SDCL § 3-12-203; SL 2019, ch 22, § 1; SL 2024, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sd496028ab1da40d6ad66eb905f9df9e7Normal { 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.sd496028ab1da40d6ad66eb905f9df9e7SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd496028ab1da40d6ad66eb905f9df9e7CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sd496028ab1da40d6ad66eb905f9df9e7Statute { 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.sd496028ab1da40d6ad66eb905f9df9e7DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sd496028ab1da40d6ad66eb905f9df9e7000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sd496028ab1da40d6ad66eb905f9df9e7NoIndent { 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.sd496028ab1da40d6ad66eb905f9df9e7DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd496028ab1da40d6ad66eb905f9df9e7SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-815 - Health care provider information--Disability--Other medical documentation."><meta property="og:description" content="SDLRC Codified Law 3-12C-815 - Health care provider information--Disability--Other medical documentation."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-815"><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="sd496028ab1da40d6ad66eb905f9df9e7Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-815" rel="noopener"><span class="sd496028ab1da40d6ad66eb905f9df9e7SENU">3-12C-815</span></a><span xml:space="preserve" class="sd496028ab1da40d6ad66eb905f9df9e7SENU">. </span><span class="sd496028ab1da40d6ad66eb905f9df9e7CL">Health care provider information--Disability--Other medical documentation.</span></p><p dir="ltr" class="sd496028ab1da40d6ad66eb905f9df9e7Statute"><span xml:space="preserve" class="sd496028ab1da40d6ad66eb905f9df9e7DefaultParagraphFont">No application for disability benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-812" rel="noopener"><span class="sd496028ab1da40d6ad66eb905f9df9e7DefaultParagraphFont">3-12C-812</span></a><span xml:space="preserve" class="sd496028ab1da40d6ad66eb905f9df9e7DefaultParagraphFont"> may be determined until a health care provider has completed a form providing an evaluation of the member s diagnosis, complicating conditions, including limitations or restrictions, and the member s ability to perform the duties required by the member s employment. If no form is provided by a health care provider, the member must submit other medical documentation of the diagnosis, complicating conditions, including limitations or restrictions, and the member s ability to perform usual duties required by the member s employment.</span></p><p dir="ltr" class="sd496028ab1da40d6ad66eb905f9df9e7Normal"><span xml:space="preserve" class="sd496028ab1da40d6ad66eb905f9df9e7000000"> </span></p><p dir="ltr" class="sd496028ab1da40d6ad66eb905f9df9e7NoIndent"><span xml:space="preserve" class="sd496028ab1da40d6ad66eb905f9df9e7DefaultParagraphFont-000001">Source: </span><span class="sd496028ab1da40d6ad66eb905f9df9e7SCL">SL 2014, ch 20, § 4; SDCL § 3-12-204; SL 2019, ch 22, § 1; SL 2024, ch 22, § 2.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s43c45210127b4d769f9a632bb8077dfeNormal { 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.s43c45210127b4d769f9a632bb8077dfeSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s43c45210127b4d769f9a632bb8077dfeCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s43c45210127b4d769f9a632bb8077dfeStatute { 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.s43c45210127b4d769f9a632bb8077dfeDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s43c45210127b4d769f9a632bb8077dfe000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s43c45210127b4d769f9a632bb8077dfeNoIndent { 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.s43c45210127b4d769f9a632bb8077dfeDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s43c45210127b4d769f9a632bb8077dfeSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-816 - Benefit determination by executive director--Advice of disability advisory committee--Independent examination or assessment--Order."><meta property="og:description" content="SDLRC Codified Law 3-12C-816 - Benefit determination by executive director--Advice of disability advisory committee--Independent examination or assessment--Order."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-816"><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="s43c45210127b4d769f9a632bb8077dfeNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-816" rel="noopener"><span class="s43c45210127b4d769f9a632bb8077dfeSENU">3-12C-816</span></a><span xml:space="preserve" class="s43c45210127b4d769f9a632bb8077dfeSENU">. </span><span class="s43c45210127b4d769f9a632bb8077dfeCL">Benefit determination by executive director--Advice of disability advisory committee--Independent examination or assessment--Order.</span></p><p dir="ltr" class="s43c45210127b4d769f9a632bb8077dfeStatute"><span class="s43c45210127b4d769f9a632bb8077dfeDefaultParagraphFont">Upon receipt of an application for disability benefits after June 30, 2015, along with statements from a health care provider and the member's employer, the executive director shall determine whether the member is eligible for disability benefits. The executive director may request the advice of the disability advisory committee with respect to any application. The recommendation of the disability advisory committee is not binding on the executive director. The disability advisory committee or the executive director may require an independent medical examination of the member to be conducted by a disinterested health care provider selected by the disability advisory committee or the executive director to evaluate the member's condition. The disability advisory committee or the executive director may require a functional capacity assessment of the member to be conducted by a licensed professional qualified to administer the assessment. The assessment may be used to evaluate the member's qualification for benefits. Refusal to undergo an examination or assessment pursuant to this section is cause for denying the application.</span></p><p dir="ltr" class="s43c45210127b4d769f9a632bb8077dfeStatute"><span class="s43c45210127b4d769f9a632bb8077dfeDefaultParagraphFont">The executive director shall issue an order to approve or deny a member s application for disability benefits, and shall mail the order to the member's last known address by certified mail.</span></p><p dir="ltr" class="s43c45210127b4d769f9a632bb8077dfeNormal"><span xml:space="preserve" class="s43c45210127b4d769f9a632bb8077dfe000000"> </span></p><p dir="ltr" class="s43c45210127b4d769f9a632bb8077dfeNoIndent"><span xml:space="preserve" class="s43c45210127b4d769f9a632bb8077dfeDefaultParagraphFont-000001">Source: </span><span class="s43c45210127b4d769f9a632bb8077dfeSCL">SL 2014, ch 20, § 5; SL 2016, ch 31, § 38; SDCL § 3-12-205; SL 2019, ch 22, § 1; SL 2026, ch 25, §</span><span xml:space="preserve" class="s43c45210127b4d769f9a632bb8077dfeDefaultParagraphFont"> </span><span class="s43c45210127b4d769f9a632bb8077dfeSCL">1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s630b9b8fe301424088e7069300137f5aNormal { 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.s630b9b8fe301424088e7069300137f5aSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s630b9b8fe301424088e7069300137f5aCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s630b9b8fe301424088e7069300137f5aStatute { 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.s630b9b8fe301424088e7069300137f5aDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s630b9b8fe301424088e7069300137f5a000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s630b9b8fe301424088e7069300137f5aNoIndent { 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.s630b9b8fe301424088e7069300137f5aDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s630b9b8fe301424088e7069300137f5aSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-817 - Commencement of benefits--Application expiration."><meta property="og:description" content="SDLRC Codified Law 3-12C-817 - Commencement of benefits--Application expiration."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-817"><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="s630b9b8fe301424088e7069300137f5aNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-817" rel="noopener"><span class="s630b9b8fe301424088e7069300137f5aSENU">3-12C-817</span></a><span xml:space="preserve" class="s630b9b8fe301424088e7069300137f5aSENU">. </span><span class="s630b9b8fe301424088e7069300137f5aCL">Commencement of benefits--Application expiration.</span></p><p dir="ltr" class="s630b9b8fe301424088e7069300137f5aStatute"><span class="s630b9b8fe301424088e7069300137f5aDefaultParagraphFont">A member whose application for disability benefits is approved shall receive the benefits beginning with the month following the date on which the member's contributory service terminates. If any member fails to terminate contributory service within one year after receiving notice that the member's application has been approved, the member's application approval expires.</span></p><p dir="ltr" class="s630b9b8fe301424088e7069300137f5aNormal"><span xml:space="preserve" class="s630b9b8fe301424088e7069300137f5a000000"> </span></p><p dir="ltr" class="s630b9b8fe301424088e7069300137f5aNoIndent"><span xml:space="preserve" class="s630b9b8fe301424088e7069300137f5aDefaultParagraphFont-000001">Source: </span><span class="s630b9b8fe301424088e7069300137f5aSCL">SL 2014, ch 20, § 6; SL 2016, ch 31, § 39; SDCL § 3-12-206; SL 2019, ch 22, § 1; SL 2026, ch 25, § 2.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s8ff0faa011874094a565d79315894849Normal { 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.s8ff0faa011874094a565d79315894849SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8ff0faa011874094a565d79315894849CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s8ff0faa011874094a565d79315894849Statute { 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.s8ff0faa011874094a565d79315894849DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s8ff0faa011874094a565d79315894849StatuteNumber1 { margin-left: 0.81in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s8ff0faa011874094a565d79315894849000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s8ff0faa011874094a565d79315894849NoIndent { 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.s8ff0faa011874094a565d79315894849DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8ff0faa011874094a565d79315894849SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-818 - Calculation of disability benefits--Foundation members."><meta property="og:description" content="SDLRC Codified Law 3-12C-818 - Calculation of disability benefits--Foundation members."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-818"><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="s8ff0faa011874094a565d79315894849Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-818" rel="noopener"><span class="s8ff0faa011874094a565d79315894849SENU">3-12C-818</span></a><span xml:space="preserve" class="s8ff0faa011874094a565d79315894849SENU">. </span><span class="s8ff0faa011874094a565d79315894849CL">Calculation of disability benefits--Foundation members.</span></p><p dir="ltr" class="s8ff0faa011874094a565d79315894849Statute"><span xml:space="preserve" class="s8ff0faa011874094a565d79315894849DefaultParagraphFont">The disability benefit approved pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-817" rel="noopener"><span class="s8ff0faa011874094a565d79315894849DefaultParagraphFont">3-12C-817</span></a><span xml:space="preserve" class="s8ff0faa011874094a565d79315894849DefaultParagraphFont"> is the greater of the following calculations:</span></p><p dir="ltr" class="s8ff0faa011874094a565d79315894849StatuteNumber1"><span class="s8ff0faa011874094a565d79315894849DefaultParagraphFont">(1)    Twenty-five percent of the foundation member's final average compensation at the date of disability; or</span></p><p dir="ltr" class="s8ff0faa011874094a565d79315894849StatuteNumber1"><span class="s8ff0faa011874094a565d79315894849DefaultParagraphFont">(2)    The foundation member's unreduced accrued retirement benefit at the date of disability.</span></p><p dir="ltr" class="s8ff0faa011874094a565d79315894849Statute"><span xml:space="preserve" class="s8ff0faa011874094a565d79315894849DefaultParagraphFont">The disability benefit must be paid in monthly installments for the life of the foundation member unless the benefit terminates pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-822" rel="noopener"><span class="s8ff0faa011874094a565d79315894849DefaultParagraphFont">3-12C-822</span></a><span class="s8ff0faa011874094a565d79315894849DefaultParagraphFont">.</span></p><p dir="ltr" class="s8ff0faa011874094a565d79315894849Statute"><span class="s8ff0faa011874094a565d79315894849DefaultParagraphFont">For purposes of determining the eligibility of a surviving spouse benefit and administering a qualified domestic relations order, the disability benefit of a foundation member is considered a retirement benefit when the member attains normal retirement age.</span></p><p dir="ltr" class="s8ff0faa011874094a565d79315894849Normal"><span xml:space="preserve" class="s8ff0faa011874094a565d79315894849000000"> </span></p><p dir="ltr" class="s8ff0faa011874094a565d79315894849NoIndent"><span xml:space="preserve" class="s8ff0faa011874094a565d79315894849DefaultParagraphFont-000001">Source: </span><span class="s8ff0faa011874094a565d79315894849SCL">SL 2014, ch 20, § 7; SL 2015, ch 26, § 2; SL 2016, ch 32, § 49; SDCL § 3-12-207; SL 2019, ch 22, § 1; SL 2022, ch 15, § 3.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033369Normal { 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.s2033369SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033369CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033369Normal-000000 { 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.s2033369DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033369Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033369Normal-000002 { text-indent: 0.25in; 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.s2033369000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033369SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033369SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033369Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-819"><span class="s2033369SENU">3-12C-819</span></a><span xml:space="preserve" class="s2033369SENU">. </span><span class="s2033369CL">Disability benefits for generational members.</span></p><p dir="ltr" class="s2033369Normal-000000"><span xml:space="preserve" class="s2033369DefaultParagraphFont">The disability benefit approved pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-817"><span class="s2033369DefaultParagraphFont">3-12C-817</span></a><span xml:space="preserve" class="s2033369DefaultParagraphFont"> is the greater of the following calculations:</span></p><p dir="ltr" class="s2033369Normal-000001"><span class="s2033369DefaultParagraphFont">(1)    Twenty-five percent of the generational member's final average compensation at the date of disability; or</span></p><p dir="ltr" class="s2033369Normal-000001"><span class="s2033369DefaultParagraphFont">(2)    The generational member's unreduced accrued retirement benefit at the date of disability.</span></p><p dir="ltr" class="s2033369Normal-000002"><span class="s2033369DefaultParagraphFont">The disability benefit shall be paid in monthly installments. The disability benefit of a generational member shall terminate upon attaining normal retirement age, or if the member commences a disability benefit within five years of normal retirement age, after receiving the disability benefit for five years, and thereafter the member shall receive a retirement benefit. In order to start the retirement benefit, the member shall submit a completed retirement application that includes the benefit option elected by the member. The single life benefit is equal to the amount the member received as a disability benefit.</span></p><p dir="ltr" class="s2033369Normal"><span xml:space="preserve" class="s2033369000003"> </span></p><p dir="ltr" class="s2033369Normal"><span class="s2033369SCL">Source:</span><span xml:space="preserve" class="s2033369SCL-000004"> SL 2016, ch 32, § 14; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-207.1"><span class="s2033369SCL-000004">3-12-207.1</span></a><span class="s2033369SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033370Normal { 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.s2033370SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033370CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033370Normal-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.s2033370DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033370000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033370SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033370SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033370Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-820"><span class="s2033370SENU">3-12C-820</span></a><span xml:space="preserve" class="s2033370SENU">. </span><span class="s2033370CL">No credited service for disability benefit period.</span></p><p dir="ltr" class="s2033370Normal-000000"><span class="s2033370DefaultParagraphFont">No member may receive credited service for the period during which the member receives disability benefits.</span></p><p dir="ltr" class="s2033370Normal"><span xml:space="preserve" class="s2033370000001"> </span></p><p dir="ltr" class="s2033370Normal"><span class="s2033370SCL">Source:</span><span xml:space="preserve" class="s2033370SCL-000002"> SL 2014, ch 20, § 8; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-208"><span class="s2033370SCL-000002">3-12-208</span></a><span class="s2033370SCL-000002">; SL 2019, ch 22, §§ 29, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033371Normal { 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.s2033371SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033371CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033371Normal-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.s2033371DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033371000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033371SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033371SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033371Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-821"><span class="s2033371SENU">3-12C-821</span></a><span xml:space="preserve" class="s2033371SENU">. </span><span class="s2033371CL">Contributions for period of employment while receiving disability benefits.</span></p><p dir="ltr" class="s2033371Normal-000000"><span xml:space="preserve" class="s2033371DefaultParagraphFont">If a member receiving disability benefits becomes employed by a participating unit, the member and employer shall make active contributions pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-401"><span class="s2033371DefaultParagraphFont">3-12C-401</span></a><span xml:space="preserve" class="s2033371DefaultParagraphFont"> during the period of the employment. The contributions required of the member pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-401"><span class="s2033371DefaultParagraphFont">3-12C-401</span></a><span xml:space="preserve" class="s2033371DefaultParagraphFont"> shall be deposited by the member's employer with the system for the benefit of the member to be transferred to an account within the deferred compensation program established pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-13"><span class="s2033371DefaultParagraphFont">3-13</span></a><span xml:space="preserve" class="s2033371DefaultParagraphFont">. The contributions shall be governed by § 457 of the Internal Revenue Code. Notwithstanding the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-401"><span class="s2033371DefaultParagraphFont">3-12C-401</span></a><span xml:space="preserve" class="s2033371DefaultParagraphFont">, the contributions required of the member's employer pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-401"><span class="s2033371DefaultParagraphFont">3-12C-401</span></a><span xml:space="preserve" class="s2033371DefaultParagraphFont"> shall be deposited into the member trust fund created by this chapter, but without any association with or credit to the member.</span></p><p dir="ltr" class="s2033371Normal"><span xml:space="preserve" class="s2033371000001"> </span></p><p dir="ltr" class="s2033371Normal"><span class="s2033371SCL">Source:</span><span xml:space="preserve" class="s2033371SCL-000002"> SL 2014, ch 20, § 9; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-209"><span class="s2033371SCL-000002">3-12-209</span></a><span class="s2033371SCL-000002">; SL 2019, ch 22, §§ 30, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s87f41442dd854c63bdcde3aac7475ffcNormal { 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.s87f41442dd854c63bdcde3aac7475ffcSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s87f41442dd854c63bdcde3aac7475ffcCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s87f41442dd854c63bdcde3aac7475ffcStatute { 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.s87f41442dd854c63bdcde3aac7475ffcDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s87f41442dd854c63bdcde3aac7475ffc000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s87f41442dd854c63bdcde3aac7475ffcNoIndent { 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.s87f41442dd854c63bdcde3aac7475ffcDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s87f41442dd854c63bdcde3aac7475ffcSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-822 - Termination of disability benefits--Health care provider certification--Determination by executive director--Effective date."><meta property="og:description" content="SDLRC Codified Law 3-12C-822 - Termination of disability benefits--Health care provider certification--Determination by executive director--Effective date."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-822"><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="s87f41442dd854c63bdcde3aac7475ffcNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-822" rel="noopener"><span class="s87f41442dd854c63bdcde3aac7475ffcSENU">3-12C-822</span></a><span xml:space="preserve" class="s87f41442dd854c63bdcde3aac7475ffcSENU">. </span><span class="s87f41442dd854c63bdcde3aac7475ffcCL">Termination of disability benefits--Health care provider certification--Determination by executive director--Effective date.</span></p><p dir="ltr" class="s87f41442dd854c63bdcde3aac7475ffcStatute"><span xml:space="preserve" class="s87f41442dd854c63bdcde3aac7475ffcDefaultParagraphFont">A member's disability benefits terminate if the member is no longer disabled, as certified by a health care provider. Upon receipt of certification, the executive director shall determine whether the member meets the qualifications for disability benefits. In making this determination the executive director shall follow the same procedure used in making the initial determination of disability provided in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-816" rel="noopener"><span class="s87f41442dd854c63bdcde3aac7475ffcDefaultParagraphFont">3-12C-816</span></a><span class="s87f41442dd854c63bdcde3aac7475ffcDefaultParagraphFont">. A member's disability benefits must be suspended and subject to termination if the member refuses to undergo an examination or assessment requested by the disability advisory committee or the executive director.</span></p><p dir="ltr" class="s87f41442dd854c63bdcde3aac7475ffcStatute"><span class="s87f41442dd854c63bdcde3aac7475ffcDefaultParagraphFont">If the executive director determines that the member no longer qualifies for disability benefits, the executive director must issue an order to terminate the member's benefits and send the order to the member's last known address through certified mail. The member's benefits terminate sixty days after the date the order is mailed to the member.</span></p><p dir="ltr" class="s87f41442dd854c63bdcde3aac7475ffcNormal"><span xml:space="preserve" class="s87f41442dd854c63bdcde3aac7475ffc000000"> </span></p><p dir="ltr" class="s87f41442dd854c63bdcde3aac7475ffcNoIndent"><span xml:space="preserve" class="s87f41442dd854c63bdcde3aac7475ffcDefaultParagraphFont-000001">Source: </span><span class="s87f41442dd854c63bdcde3aac7475ffcSCL">SL 2014, ch 20, § 10; SL 2016, ch 31, § 40; SDCL § 3-12-210; SL 2019, ch 22, §§ 31, 45; SL 2026, ch 25, § 3.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033373Normal { 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.s2033373SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033373CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033373Normal-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.s2033373DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033373000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033373SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033373SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033373Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-823"><span class="s2033373SENU">3-12C-823</span></a><span xml:space="preserve" class="s2033373SENU">. </span><span class="s2033373CL">Contributions upon return to covered employment.</span></p><p dir="ltr" class="s2033373Normal-000000"><span xml:space="preserve" class="s2033373DefaultParagraphFont">If a member's disability benefits have terminated and the member returns to covered employment, the member and employer shall make contributions pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-401"><span class="s2033373DefaultParagraphFont">3-12C-401</span></a><span class="s2033373DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033373Normal"><span xml:space="preserve" class="s2033373000001"> </span></p><p dir="ltr" class="s2033373Normal"><span class="s2033373SCL">Source:</span><span xml:space="preserve" class="s2033373SCL-000002"> SL 2014, ch 20, § 11; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-211"><span class="s2033373SCL-000002">3-12-211</span></a><span class="s2033373SCL-000002">; SL 2019, ch 22, §§ 32, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033374Normal { 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.s2033374SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033374CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033374Normal-000000 { 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.s2033374DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033374Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033374000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033374SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033374SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033374Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-824"><span class="s2033374SENU">3-12C-824</span></a><span xml:space="preserve" class="s2033374SENU">. </span><span class="s2033374CL">Retirement benefit of member who received disability benefits and returned to covered employment.</span></p><p dir="ltr" class="s2033374Normal-000000"><span class="s2033374DefaultParagraphFont">Upon retirement, a member who received disability benefits and whose benefits were terminated and who returned to covered employment shall receive a retirement benefit based on the member's credited service before receiving disability benefits and after receiving disability benefits. The final average compensation used in the calculation of the retirement benefit is the greater of:</span></p><p dir="ltr" class="s2033374Normal-000001"><span class="s2033374DefaultParagraphFont">(1)    The member's final average compensation at the date of retirement; or</span></p><p dir="ltr" class="s2033374Normal-000001"><span class="s2033374DefaultParagraphFont">(2)    The member's final average compensation at the date of disability, increased by the COLA from the date of the termination of disability benefits to the date of retirement.</span></p><p dir="ltr" class="s2033374Normal"><span xml:space="preserve" class="s2033374000002"> </span></p><p dir="ltr" class="s2033374Normal"><span class="s2033374SCL">Source:</span><span xml:space="preserve" class="s2033374SCL-000003"> SL 2014, ch 20, § 12; SL 2017, ch 27, § 33; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-212"><span class="s2033374SCL-000003">3-12-212</span></a><span class="s2033374SCL-000003">; SL 2019, ch 22, §§ 33, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033375Normal { 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.s2033375SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033375CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033375Normal-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.s2033375DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033375000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033375SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033375SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033375Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-825"><span class="s2033375SENU">3-12C-825</span></a><span xml:space="preserve" class="s2033375SENU">. </span><span class="s2033375CL">Retirement benefit of member whose disability benefits were terminated but who did not return to covered employment.</span></p><p dir="ltr" class="s2033375Normal-000000"><span class="s2033375DefaultParagraphFont">Upon retirement, a member who received disability benefits and whose benefits were terminated and who did not return to covered employment shall receive a retirement benefit based on the member's credited service before receiving disability benefits. The final average compensation used in the calculation of the retirement benefit shall be the final average compensation at the date of disability, increased by the COLA from the date of the termination of disability benefits to the date of retirement.</span></p><p dir="ltr" class="s2033375Normal"><span xml:space="preserve" class="s2033375000001"> </span></p><p dir="ltr" class="s2033375Normal"><span class="s2033375SCL">Source:</span><span xml:space="preserve" class="s2033375SCL-000002"> SL 2014, ch 20, § 13; SL 2017, ch 27, § 34; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-213"><span class="s2033375SCL-000002">3-12-213</span></a><span class="s2033375SCL-000002">; SL 2019, ch 22, §§ 34, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s43246f57d05f46ffa8132a4f82d8d547Normal { 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.s43246f57d05f46ffa8132a4f82d8d547SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s43246f57d05f46ffa8132a4f82d8d547CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s43246f57d05f46ffa8132a4f82d8d547Statute { 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.s43246f57d05f46ffa8132a4f82d8d547DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s43246f57d05f46ffa8132a4f82d8d547000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s43246f57d05f46ffa8132a4f82d8d547NoIndent { 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.s43246f57d05f46ffa8132a4f82d8d547DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s43246f57d05f46ffa8132a4f82d8d547SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-826 - Family benefit--Member dies before normal retirement age while receiving disability benefits."><meta property="og:description" content="SDLRC Codified Law 3-12C-826 - Family benefit--Member dies before normal retirement age while receiving disability benefits."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-826"><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="s43246f57d05f46ffa8132a4f82d8d547Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-826" rel="noopener"><span class="s43246f57d05f46ffa8132a4f82d8d547SENU">3-12C-826</span></a><span xml:space="preserve" class="s43246f57d05f46ffa8132a4f82d8d547SENU">. </span><span class="s43246f57d05f46ffa8132a4f82d8d547CL">Family benefit--Member dies before normal retirement age while receiving disability benefits.</span></p><p dir="ltr" class="s43246f57d05f46ffa8132a4f82d8d547Statute"><span xml:space="preserve" class="s43246f57d05f46ffa8132a4f82d8d547DefaultParagraphFont">Upon the death of a member receiving disability benefits, who dies prior to normal retirement age, a family benefit must be paid on behalf of any eligible child of the member. The monthly amount of the family benefit is the amount of the monthly disability benefits the member received before death. The monthly family benefit must be equally apportioned among any eligible children of the member and must be paid on behalf of any child in accordance with § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-902" rel="noopener"><span class="s43246f57d05f46ffa8132a4f82d8d547DefaultParagraphFont">3-12C-902</span></a><span class="s43246f57d05f46ffa8132a4f82d8d547DefaultParagraphFont">. However, if the child is eighteen years of age or older, the benefit is payable directly to the child. As a child becomes ineligible, the family benefit shall be reallocated among any remaining eligible children of the deceased member. The family benefit terminates if there are no eligible children of the deceased member.</span></p><p dir="ltr" class="s43246f57d05f46ffa8132a4f82d8d547Normal"><span xml:space="preserve" class="s43246f57d05f46ffa8132a4f82d8d547000000"> </span></p><p dir="ltr" class="s43246f57d05f46ffa8132a4f82d8d547NoIndent"><span xml:space="preserve" class="s43246f57d05f46ffa8132a4f82d8d547DefaultParagraphFont-000001">Source: </span><span class="s43246f57d05f46ffa8132a4f82d8d547SCL">SL 2014, ch 20, § 14; SL 2016, ch 31, § 41; SDCL § 3-12-214; SL 2019, ch 22, §§ 35, 45; SL 2022, ch 15, § 4.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033377Normal { 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.s2033377SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033377CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033377Normal-000000 { 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.s2033377DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033377Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033377000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033377SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033377SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033377Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-827"><span class="s2033377SENU">3-12C-827</span></a><span xml:space="preserve" class="s2033377SENU">. </span><span class="s2033377CL">Surviving spouse benefit where member received disability benefits .</span></p><p dir="ltr" class="s2033377Normal-000000"><span class="s2033377DefaultParagraphFont">If no family benefit is being paid, a surviving spouse of a foundation or generational member who received disability benefits shall, upon attaining the age of sixty-five or sixty-seven, respectively, receive a monthly benefit, payable for the life of the surviving spouse, equal to one of the following calculations, whichever is applicable:</span></p><p dir="ltr" class="s2033377Normal-000001"><span class="s2033377DefaultParagraphFont">(1)    If there was a family benefit paid, sixty percent of the family benefit paid at the time the family benefit ended, increased by the COLA from the date the last family benefit was paid; or</span></p><p dir="ltr" class="s2033377Normal-000001"><span class="s2033377DefaultParagraphFont">(2)    If there was no family benefit paid, sixty percent of the deceased member's disability benefit paid at the time of the member's death, increased by the COLA from the date of the member's death.</span></p><p dir="ltr" class="s2033377Normal"><span xml:space="preserve" class="s2033377000002"> </span></p><p dir="ltr" class="s2033377Normal"><span class="s2033377SCL">Source:</span><span xml:space="preserve" class="s2033377SCL-000003"> SL 2014, ch 20, § 15; SL 2016, ch 32, § 50; SL 2017, ch 27, § 35; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-215"><span class="s2033377SCL-000003">3-12-215</span></a><span class="s2033377SCL-000003">; SL 2019, ch 22, §§ 36, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033378Normal { 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.s2033378SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033378CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033378Normal-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.s2033378DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033378000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033378SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033378SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033378Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-828"><span class="s2033378SENU">3-12C-828</span></a><span xml:space="preserve" class="s2033378SENU">. </span><span class="s2033378CL">Surviving spouse benefit where member dies after normal retirement age while receiving disability benefits.</span></p><p dir="ltr" class="s2033378Normal-000000"><span class="s2033378DefaultParagraphFont">If a member dies after normal retirement age while receiving disability benefits, and no other benefits are being paid on behalf of the member, the member's surviving spouse shall receive a surviving spouse benefit, payable in monthly installments, equal to sixty percent of the monthly disability benefit that the member received before death.</span></p><p dir="ltr" class="s2033378Normal"><span xml:space="preserve" class="s2033378000001"> </span></p><p dir="ltr" class="s2033378Normal"><span class="s2033378SCL">Source:</span><span xml:space="preserve" class="s2033378SCL-000002"> SL 2014, ch 20, § 16; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-216"><span class="s2033378SCL-000002">3-12-216</span></a><span class="s2033378SCL-000002">; SL 2019, ch 22, §§ 37, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sa871532db0de4d36954b91e878e957a9Normal { 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.sa871532db0de4d36954b91e878e957a9SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa871532db0de4d36954b91e878e957a9CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sa871532db0de4d36954b91e878e957a9Statute { 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.sa871532db0de4d36954b91e878e957a9DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sa871532db0de4d36954b91e878e957a9StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sa871532db0de4d36954b91e878e957a9000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sa871532db0de4d36954b91e878e957a9NoIndent { 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.sa871532db0de4d36954b91e878e957a9DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa871532db0de4d36954b91e878e957a9SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-901 - Family and surviving spouse benefits--Death of contributing member before retirement or death of member receiving disability--Application before July 1, 2015--Benefit amount--Effective date--Care of children defined."><meta property="og:description" content="SDLRC Codified Law 3-12C-901 - Family and surviving spouse benefits--Death of contributing member before retirement or death of member receiving disability--Application before July 1, 2015--Benefit amount--Effective date--Care of children defined."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-901"><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="sa871532db0de4d36954b91e878e957a9Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-901" rel="noopener"><span class="sa871532db0de4d36954b91e878e957a9SENU">3-12C-901</span></a><span xml:space="preserve" class="sa871532db0de4d36954b91e878e957a9SENU">. </span><span class="sa871532db0de4d36954b91e878e957a9CL">Family and surviving spouse benefits--Death of contributing member before retirement or death of member receiving disability--Application before July 1, 2015--Benefit amount--Effective date--Care of children defined.</span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9Statute"><span class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">On the death of a contributing member before July 1, 2015, and before the earlier of the member attaining normal retirement age or the member's retirement, who has one or more years of contributory service; or if there has been a break in the member's employment of more than one year, one-half year of contributory service having been performed after the end of the last break; or if the member was receiving a disability benefit which commenced after July 1, 1974, and was based on an application received by the system before July 1, 2015, the following benefits must be paid:</span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9StatuteNumber1"><span class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">(1)    A surviving spouse having the care of children shall receive an annual amount, payable in monthly installments, equal to forty percent of the member's projected compensation, plus ten percent of the projected compensation for each child to a maximum of six children;</span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9StatuteNumber1"><span class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">(2)    The conservator or custodian of each child, on whose account there is no benefit payable under subdivision (1) of this section, shall receive on behalf of each child, to a maximum of five children, an annual amount, payable in monthly installments, equal to twenty percent of the member's projected compensation;</span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9StatuteNumber1"><span class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">(3)    If the sum of benefits payable under subdivisions (1) and (2) of this section exceeds one hundred percent of the member's projected compensation, the benefits payable under both subdivisions (1) and (2) of this section must be proportionally reduced so that the total of the benefits is equal to one hundred percent of the member's projected compensation; and</span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9StatuteNumber1"><span xml:space="preserve" class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">(4)    If there are no benefits being paid under subdivision (1) of this section and the member's accumulated contributions have not been withdrawn pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-906" rel="noopener"><span class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">3-12C-906</span></a><span class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">, the spouse who has reached age sixty-five shall, upon the system's receipt of a completed application, receive a monthly payment equal to sixty percent of the amount which would have been payable to the deceased member at normal retirement age based on the member's credited and projected service, projected compensation, and projected primary social security. If the surviving spouse is eligible at the time of the member's death, the benefit is effective the first day of the month following the date on which the member's contributory service terminates. The benefit payable under this subdivision must be increased by application of the COLA commencing each July first for each complete twelve-month period between the date the member would have reached normal retirement age and the date benefits commence to the spouse.</span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9Statute"><span class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">For benefits payable pursuant to subdivision (1) or (2) of this section, the benefit is effective the first day of the month following the date on which the member's contributory service terminates and is payable upon the receipt of a completed application.</span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9Statute"><span class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont">For purposes of this section, "care of children" means the responsibility for the maintenance, education, and supervision of one or more children.</span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9Normal"><span xml:space="preserve" class="sa871532db0de4d36954b91e878e957a9000000"> </span></p><p dir="ltr" class="sa871532db0de4d36954b91e878e957a9NoIndent"><span xml:space="preserve" class="sa871532db0de4d36954b91e878e957a9DefaultParagraphFont-000001">Source: </span><span class="sa871532db0de4d36954b91e878e957a9SCL">SL 1967, ch 303, § 9 as added by SL 1968, ch 216, § 1; SDCL Supp, § 3-12-29.2; SL 1970, ch 25, § 8; SL 1974, ch 35, § 51; SL 1976, ch 40, § 3; SL 1979, ch 30, § 1; SL 1980, ch 31, § 8; SL 1982, ch 34, § 2; SL 1984, ch 25; SL 1993, ch 213, § 78; SL 1999, ch 16, § 2; SL 2004, ch 40, § 1; SL 2005, ch 24, § 4; SL 2006, ch 18, § 2; SL 2010, ch 20, § 11; SL 2014, ch 20, § 23; SL 2017, ch 27, § 14; SDCL § 3-12-95; SL 2019, ch 22, § 1; SL 2020, ch 12, § 8; SL 2020, ch 15, § 1; SL 2025, ch 27, § 47.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sa6acdc68e12e4cf49a9ff41b55375ec1Normal { 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.sa6acdc68e12e4cf49a9ff41b55375ec1SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa6acdc68e12e4cf49a9ff41b55375ec1CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sa6acdc68e12e4cf49a9ff41b55375ec1Statute { 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.sa6acdc68e12e4cf49a9ff41b55375ec1DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sa6acdc68e12e4cf49a9ff41b55375ec1000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sa6acdc68e12e4cf49a9ff41b55375ec1NoIndent { 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.sa6acdc68e12e4cf49a9ff41b55375ec1DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa6acdc68e12e4cf49a9ff41b55375ec1SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-902 - Payment or delivery to minors."><meta property="og:description" content="SDLRC Codified Law 3-12C-902 - Payment or delivery to minors."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-902"><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="sa6acdc68e12e4cf49a9ff41b55375ec1Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-902" rel="noopener"><span class="sa6acdc68e12e4cf49a9ff41b55375ec1SENU">3-12C-902</span></a><span xml:space="preserve" class="sa6acdc68e12e4cf49a9ff41b55375ec1SENU">. </span><span class="sa6acdc68e12e4cf49a9ff41b55375ec1CL">Payment or delivery to minors.</span></p><p dir="ltr" class="sa6acdc68e12e4cf49a9ff41b55375ec1Statute"><span class="sa6acdc68e12e4cf49a9ff41b55375ec1DefaultParagraphFont">Any payment of any benefit to a minor pursuant to the provisions of this chapter shall be made on the minor's behalf to a custodian or conservator appointed by law. However, if no custodian or conservator is appointed and the amount payable does not exceed ten thousand dollars each calendar year, payment shall be made to any parent having the care and custody of the minor and with whom the minor resides.</span></p><p dir="ltr" class="sa6acdc68e12e4cf49a9ff41b55375ec1Statute"><span class="sa6acdc68e12e4cf49a9ff41b55375ec1DefaultParagraphFont">If the child is eighteen years of age or older, the benefit is payable directly to the child. If any payment exceeds ten thousand dollars in a calendar year, payment must be made on the minor s behalf to a custodian or conservator appointed by law.</span></p><p dir="ltr" class="sa6acdc68e12e4cf49a9ff41b55375ec1Normal"><span xml:space="preserve" class="sa6acdc68e12e4cf49a9ff41b55375ec1000000"> </span></p><p dir="ltr" class="sa6acdc68e12e4cf49a9ff41b55375ec1NoIndent"><span xml:space="preserve" class="sa6acdc68e12e4cf49a9ff41b55375ec1DefaultParagraphFont-000001">Source: </span><span class="sa6acdc68e12e4cf49a9ff41b55375ec1SCL">SL 2006, ch 18, § 1; SDCL § 3-12-95.1; SL 2019, ch 22, § 1; SL 2022, ch 15, § 5.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033381Normal { 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.s2033381SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033381CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033381Normal-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.s2033381DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033381000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033381SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033381SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033381Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-903"><span class="s2033381SENU">3-12C-903</span></a><span xml:space="preserve" class="s2033381SENU">. </span><span class="s2033381CL">Benefits payable directly to child at age eighteen--Elimination upon ineligibility.</span></p><p dir="ltr" class="s2033381Normal-000000"><span xml:space="preserve" class="s2033381DefaultParagraphFont">The conservator and custodian provisions of subdivision 3-12C-901(2) and § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-902"><span class="s2033381DefaultParagraphFont">3-12C-902</span></a><span xml:space="preserve" class="s2033381DefaultParagraphFont"> notwithstanding, the benefit becomes payable directly to a child when the child reaches eighteen years of age. The benefit shall be eliminated when the child becomes ineligible.</span></p><p dir="ltr" class="s2033381Normal"><span xml:space="preserve" class="s2033381000001"> </span></p><p dir="ltr" class="s2033381Normal"><span class="s2033381SCL">Source:</span><span xml:space="preserve" class="s2033381SCL-000002"> SL 2011, ch 22, § 3; SL 2016, ch 31, § 19; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-95.2"><span class="s2033381SCL-000002">3-12-95.2</span></a><span class="s2033381SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033382Normal { 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.s2033382SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033382CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033382Normal-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.s2033382DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033382000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033382SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033382SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033382Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-904"><span class="s2033382SENU">3-12C-904</span></a><span xml:space="preserve" class="s2033382SENU">. </span><span class="s2033382CL">Elimination of family benefit as children become ineligible.</span></p><p dir="ltr" class="s2033382Normal-000000"><span class="s2033382DefaultParagraphFont">The portion of a family benefit that is payable on account of children pursuant to subdivision 3-12C-901(1) shall be eliminated as each child becomes ineligible. The benefit shall be eliminated altogether when the youngest child becomes ineligible.</span></p><p dir="ltr" class="s2033382Normal"><span xml:space="preserve" class="s2033382000001"> </span></p><p dir="ltr" class="s2033382Normal"><span class="s2033382SCL">Source:</span><span xml:space="preserve" class="s2033382SCL-000002"> SL 2011, ch 22, § 2; SL 2016, ch 31, § 20; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-95.3"><span class="s2033382SCL-000002">3-12-95.3</span></a><span class="s2033382SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033383Normal { 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.s2033383SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033383CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033383Normal-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.s2033383DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033383000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033383SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033383SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033383Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-905"><span class="s2033383SENU">3-12C-905</span></a><span xml:space="preserve" class="s2033383SENU">. </span><span class="s2033383CL">Deductions of member's primary social security from benefits.</span></p><p dir="ltr" class="s2033383Normal-000000"><span class="s2033383DefaultParagraphFont">Seventy-five percent of a member's primary social security, without regard to any improvements, shall be deducted from the benefits provided in subdivisions 3-12C-901(1) and (2).</span></p><p dir="ltr" class="s2033383Normal"><span xml:space="preserve" class="s2033383000001"> </span></p><p dir="ltr" class="s2033383Normal"><span class="s2033383SCL">Source:</span><span xml:space="preserve" class="s2033383SCL-000002"> SL 1974, ch 35, § 51; SL 1977, ch 28, § 10; SL 1986, ch 37, § 6; SL 1994, ch 35, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-96"><span class="s2033383SCL-000002">3-12-96</span></a><span class="s2033383SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033384Normal { 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.s2033384SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033384CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033384Normal-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.s2033384DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033384000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033384SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033384SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033384Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-906"><span class="s2033384SENU">3-12C-906</span></a><span xml:space="preserve" class="s2033384SENU">. </span><span class="s2033384CL">Family benefits in lieu of other death benefits--Election by designated beneficiary to withdraw accumulated contributions.</span></p><p dir="ltr" class="s2033384Normal-000000"><span xml:space="preserve" class="s2033384DefaultParagraphFont">Family benefits payable under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-901"><span class="s2033384DefaultParagraphFont">3-12C-901</span></a><span xml:space="preserve" class="s2033384DefaultParagraphFont"> are in lieu of the death benefits payable under any other provision of this chapter except that a designated beneficiary may elect, subject to a deduction for any benefits previously paid, prior to the receipt of the first payment under subdivision 3-12C-901(4), to withdraw the member's accumulated contributions providing there are no children on account of whom benefits are payable under subdivisions 3-12C-901(1) and (2).</span></p><p dir="ltr" class="s2033384Normal"><span xml:space="preserve" class="s2033384000001"> </span></p><p dir="ltr" class="s2033384Normal"><span class="s2033384SCL">Source:</span><span xml:space="preserve" class="s2033384SCL-000002"> SL 1974, ch 35, § 51; SL 1975, ch 39, § 6; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-97"><span class="s2033384SCL-000002">3-12-97</span></a><span class="s2033384SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sf8b9198ee2e444a690cfb0ce8b184043Normal { 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.sf8b9198ee2e444a690cfb0ce8b184043SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf8b9198ee2e444a690cfb0ce8b184043CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sf8b9198ee2e444a690cfb0ce8b184043Statute { 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.sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sf8b9198ee2e444a690cfb0ce8b184043StatuteNumber1 { margin-left: 0.81in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sf8b9198ee2e444a690cfb0ce8b184043000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sf8b9198ee2e444a690cfb0ce8b184043NoIndent { 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.sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf8b9198ee2e444a690cfb0ce8b184043SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-907 - Family benefit--Deceased member who was working--Total benefit--Effective date."><meta property="og:description" content="SDLRC Codified Law 3-12C-907 - Family benefit--Deceased member who was working--Total benefit--Effective date."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-907"><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="sf8b9198ee2e444a690cfb0ce8b184043Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-907" rel="noopener"><span class="sf8b9198ee2e444a690cfb0ce8b184043SENU">3-12C-907</span></a><span xml:space="preserve" class="sf8b9198ee2e444a690cfb0ce8b184043SENU">. </span><span class="sf8b9198ee2e444a690cfb0ce8b184043CL">Family benefit--Deceased member who was working--Total benefit--Effective date.</span></p><p dir="ltr" class="sf8b9198ee2e444a690cfb0ce8b184043Statute"><span class="sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont">On the death of a contributing member after June 30, 2015, who has acquired at least three years of contributory service or noncontributory service, or who died while performing usual duties for an employer, and prior to the earlier of the member attaining normal retirement age or the member's retirement, a family benefit must be paid on behalf of any child of the member. The total family benefit is the greater of:</span></p><p dir="ltr" class="sf8b9198ee2e444a690cfb0ce8b184043StatuteNumber1"><span class="sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont">(1)    Twenty-five percent of the member's final average compensation at the time of death; or</span></p><p dir="ltr" class="sf8b9198ee2e444a690cfb0ce8b184043StatuteNumber1"><span class="sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont">(2)    The member's unreduced accrued retirement benefit at the time of death.</span></p><p dir="ltr" class="sf8b9198ee2e444a690cfb0ce8b184043Statute"><span xml:space="preserve" class="sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont">The family benefit is effective the first day of the month following the date on which the member's contributory service terminates and is payable upon the receipt of a completed application. The family benefit, which must be paid in monthly installments, shall be equally apportioned among any children of the member and shall be paid on behalf of any child in accordance with § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-902" rel="noopener"><span class="sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont">3-12C-902</span></a><span class="sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont">. As a child becomes ineligible, the family benefit must be reallocated among any remaining eligible children of the deceased member. The family benefit terminates if there are no eligible children of the deceased member.</span></p><p dir="ltr" class="sf8b9198ee2e444a690cfb0ce8b184043Normal"><span xml:space="preserve" class="sf8b9198ee2e444a690cfb0ce8b184043000000"> </span></p><p dir="ltr" class="sf8b9198ee2e444a690cfb0ce8b184043NoIndent"><span xml:space="preserve" class="sf8b9198ee2e444a690cfb0ce8b184043DefaultParagraphFont-000001">Source: </span><span class="sf8b9198ee2e444a690cfb0ce8b184043SCL">SL 2014, ch 20, § 17; SL 2016, ch 32, § 41; SDCL § 3-12-95.4; SL 2019, ch 22, § 1; SL 2020, ch 15, § 2; SL 2022, ch 15, § 6.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s698358f1f3b6493784aac0a3369c5e71Normal { 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.s698358f1f3b6493784aac0a3369c5e71SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s698358f1f3b6493784aac0a3369c5e71CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s698358f1f3b6493784aac0a3369c5e71Statute { 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.s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s698358f1f3b6493784aac0a3369c5e71StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s698358f1f3b6493784aac0a3369c5e71000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s698358f1f3b6493784aac0a3369c5e71NoIndent { 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.s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s698358f1f3b6493784aac0a3369c5e71SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1001 - Election of additional survivor protection--Commencement and termination--Additional terms."><meta property="og:description" content="SDLRC Codified Law 3-12C-1001 - Election of additional survivor protection--Commencement and termination--Additional terms."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1001"><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="s698358f1f3b6493784aac0a3369c5e71Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1001" rel="noopener"><span class="s698358f1f3b6493784aac0a3369c5e71SENU">3-12C-1001</span></a><span xml:space="preserve" class="s698358f1f3b6493784aac0a3369c5e71SENU">. </span><span class="s698358f1f3b6493784aac0a3369c5e71CL">Election of additional survivor protection--Commencement and termination--Additional terms.</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71Statute"><span class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont">Within three hundred sixty-five days of becoming a member, within ninety days of attaining age thirty-five, or within ninety days of the first anniversary of a marriage, a member may elect to provide the member's spouse with additional survivor protection by increasing the member's contribution by an additional one and five-tenths percent of compensation, which additional contribution may not be matched by the member's employer. The additional contribution must commence with the first payroll period following the date of the election. The additional contribution must continue until one of the following occurs:</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71StatuteNumber1"><span class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont">(1)    The member's spouse attains the age sixty-five;</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71StatuteNumber1"><span class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont">(2)    The death or disability of the member;</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71StatuteNumber1"><span class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont">(3)    The death of the spouse;</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71StatuteNumber1"><span class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont">(4)    The termination of the member's employment; or</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71StatuteNumber1"><span class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont">(5)    The termination of the marriage through a divorce decree or an annulment.</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71Statute"><span class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont">The additional contribution may not be treated as a member contribution for purposes of determining the amount of refund of accumulated contributions. Contributions paid prior to January 1, 1979, must be considered part of accumulated contributions for determining the amount of refund if the member terminates employment. Notwithstanding any other provision of this section, a member who is currently contributing to the system may terminate the additional survivor protection under this section, but all funds contributed for the additional survivor protection must remain with the system and may not be considered as part of the member's accumulated contributions.</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71Statute"><span class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont">For purposes of implementing this section, the one and two-tenths percent contribution for additional survivor protection was applied to all compensation received on or after July 1, 2004, regardless of when that compensation was earned, and the one and five-tenths percent of compensation must be applied to all compensation received on or after July 1, 2010, regardless of when the compensation was earned.</span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71Normal"><span xml:space="preserve" class="s698358f1f3b6493784aac0a3369c5e71000000"> </span></p><p dir="ltr" class="s698358f1f3b6493784aac0a3369c5e71NoIndent"><span xml:space="preserve" class="s698358f1f3b6493784aac0a3369c5e71DefaultParagraphFont-000001">Source: </span><span class="s698358f1f3b6493784aac0a3369c5e71SCL">SL 1974, ch 35, § 58; SL 1976, ch 40, § 4; SL 1977, ch 28, § 12; SL 1978, ch 33, §§ 1, 3; SL 1982, ch 32, § 6; SL 1995, ch 21; SL 1998, ch 15, § 20; SL 1998, ch 21, § 1; SL 2004, ch 41, § 1; SL 2010, ch 22, § 1; SDCL § 3-12-104; SL 2019, ch 22, § 1; SL 2025, ch 27, § 48.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033387Normal { 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.s2033387SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033387CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033387Normal-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.s2033387DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033387000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033387SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033387SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033387Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1002"><span class="s2033387SENU">3-12C-1002</span></a><span xml:space="preserve" class="s2033387SENU">. </span><span class="s2033387CL">Extension of survivor protection option to current contributing members--Limitation on future extensions.</span></p><p dir="ltr" class="s2033387Normal-000000"><span xml:space="preserve" class="s2033387DefaultParagraphFont">The additional survivor protection option granted under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1001"><span class="s2033387DefaultParagraphFont">3-12C-1001</span></a><span xml:space="preserve" class="s2033387DefaultParagraphFont"> is hereby extended to all current contributing members of the system for a period of three months commencing October 1, 1990, and ending December 31, 1990. In no event may the additional survivor protection be made available to a terminated vested member or to a member receiving a retirement benefit from the system. However, the additional survivor protection option may not be so extended again at any time after June 30, 2004.</span></p><p dir="ltr" class="s2033387Normal"><span xml:space="preserve" class="s2033387000001"> </span></p><p dir="ltr" class="s2033387Normal"><span class="s2033387SCL">Source:</span><span xml:space="preserve" class="s2033387SCL-000002"> SL 1982, ch 32, § 7; SL 1986, ch 39; SL 1990, ch 39; SL 2004, ch 41, § 2; SL 2017, ch 27, § 16; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-104.1"><span class="s2033387SCL-000002">3-12-104.1</span></a><span class="s2033387SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033388Normal { 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.s2033388SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033388CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033388Normal-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.s2033388DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033388000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033388SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033388SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033388Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1003"><span class="s2033388SENU">3-12C-1003</span></a><span xml:space="preserve" class="s2033388SENU">. </span><span class="s2033388CL">New enrollments in additional survivor protection prohibited.</span></p><p dir="ltr" class="s2033388Normal-000000"><span xml:space="preserve" class="s2033388DefaultParagraphFont">The provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1001"><span class="s2033388DefaultParagraphFont">3-12C-1001</span></a><span xml:space="preserve" class="s2033388DefaultParagraphFont"> notwithstanding, on or after July 1, 2010, no member of the system may enroll in the program created under that section.</span></p><p dir="ltr" class="s2033388Normal"><span xml:space="preserve" class="s2033388000001"> </span></p><p dir="ltr" class="s2033388Normal"><span class="s2033388SCL">Source:</span><span xml:space="preserve" class="s2033388SCL-000002"> SL 2010, ch 22, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-104.2"><span class="s2033388SCL-000002">3-12-104.2</span></a><span class="s2033388SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033389Normal { 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.s2033389SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033389CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033389Normal-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.s2033389DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033389000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033389SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033389SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033389Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1004"><span class="s2033389SENU">3-12C-1004</span></a><span xml:space="preserve" class="s2033389SENU">. </span><span class="s2033389CL">Amount of additional survivor protection benefits--Termination.</span></p><p dir="ltr" class="s2033389Normal-000000"><span xml:space="preserve" class="s2033389DefaultParagraphFont">The additional survivor protection payable under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1001"><span class="s2033389DefaultParagraphFont">3-12C-1001</span></a><span class="s2033389DefaultParagraphFont">, on the death of the member or expiration of benefits that may have been paid pursuant to subdivision 3-12C-901(1) because there is no eligible child, entitles the surviving spouse of the member to an annual amount, payable in monthly installments, equal to forty percent of the member's final average compensation, multiplied by the COLA for each full twelve-month period between the earlier of the date of death or disability of the member and the date the payment of the benefit is due to commence. The additional survivor protection benefit shall continue until the surviving spouse dies or attains age sixty-five, whichever is earlier.</span></p><p dir="ltr" class="s2033389Normal"><span xml:space="preserve" class="s2033389000001"> </span></p><p dir="ltr" class="s2033389Normal"><span class="s2033389SCL">Source:</span><span xml:space="preserve" class="s2033389SCL-000002"> SL 1974, ch 35, § 59; SL 1979, ch 30, § 3; SL 1982, ch 34, § 3; SL 2004, ch 40, § 3; SL 2004, ch 41, § 3; SL 2017, ch 27, § 17; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-105"><span class="s2033389SCL-000002">3-12-105</span></a><span class="s2033389SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033390Normal { 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.s2033390SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033390CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033390Normal-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.s2033390DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033390Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033390000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033390SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033390SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033390Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1101"><span class="s2033390SENU">3-12C-1101</span></a><span xml:space="preserve" class="s2033390SENU">. </span><span class="s2033390CL">Final average compensation for foundation members whose contributory service concluded before July 1, 2021.</span></p><p dir="ltr" class="s2033390Normal-000000"><span class="s2033390DefaultParagraphFont">For any foundation member whose contributory service concluded before July 1, 2021, the term, final average compensation, means the highest average annual compensation earned by a member during any period of twelve consecutive calendar quarters during the member's last forty calendar quarters of membership in the system including time during which the member was not a member but for which the member has received credit under the system.</span></p><p dir="ltr" class="s2033390Normal-000001"><span class="s2033390DefaultParagraphFont">For purposes of determining final average compensation if periods of contributory service are separated by breaks, any service earned from covered employment may be aggregated to constitute a period of twelve consecutive calendar quarters. For any member who has less than twelve but more than four calendar quarters of membership in the system, the member's final average compensation shall be based on the compensation received in all quarters of membership. For any member who has four calendar quarters of membership or less, the member's final average compensation shall be based on the member's annual compensation.</span></p><p dir="ltr" class="s2033390Normal"><span xml:space="preserve" class="s2033390000002"> </span></p><p dir="ltr" class="s2033390Normal"><span class="s2033390SCL">Source:</span><span xml:space="preserve" class="s2033390SCL-000003"> SL 2016, ch 32, § 26; SL 2017, ch 29, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-89.4"><span class="s2033390SCL-000003">3-12-89.4</span></a><span class="s2033390SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033391Normal { 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.s2033391SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033391CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033391Normal-000000 { 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.s2033391DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033391Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033391000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033391SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033391SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033391Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1102"><span class="s2033391SENU">3-12C-1102</span></a><span xml:space="preserve" class="s2033391SENU">. </span><span class="s2033391CL">Limitations on final average compensation for foundation members whose contributory service concluded before July 1, 2020.</span></p><p dir="ltr" class="s2033391Normal-000000"><span class="s2033391DefaultParagraphFont">For any foundation member whose contributory service concluded before July 1, 2020, if the compensation received in the last calendar quarter considered exceeds a set percentage of the amount in the highest previous calendar quarter, or if the average compensation received in the last four calendar quarters considered exceeds a set percentage of the amount earned in the highest calendar quarter prior to the last four calendar quarters considered, only the lesser amount shall be considered and the excess may not be included in the computation of final average compensation. Those respective set percentages are as follows:</span></p><p dir="ltr" class="s2033391Normal-000001"><span class="s2033391DefaultParagraphFont">(1)    Before July 1, 2004, one hundred twenty-five percent and one hundred fifteen percent;</span></p><p dir="ltr" class="s2033391Normal-000001"><span class="s2033391DefaultParagraphFont">(2)    Between July 1, 2004, and June 30, 2005, one hundred fifteen percent and one hundred ten percent; and</span></p><p dir="ltr" class="s2033391Normal-000001"><span class="s2033391DefaultParagraphFont">(3)    After June 30, 2005, one hundred five percent and one hundred five percent.</span></p><p dir="ltr" class="s2033391Normal"><span xml:space="preserve" class="s2033391000002"> </span></p><p dir="ltr" class="s2033391Normal"><span class="s2033391SCL">Source:</span><span xml:space="preserve" class="s2033391SCL-000003"> SL 2017, ch 29, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-89.9"><span class="s2033391SCL-000003">3-12-89.9</span></a><span class="s2033391SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033392Normal { 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.s2033392SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033392CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033392Normal-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.s2033392DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033392Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033392000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033392SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033392SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033392Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1103"><span class="s2033392SENU">3-12C-1103</span></a><span xml:space="preserve" class="s2033392SENU">. </span><span class="s2033392CL">Final average compensation for foundation members whose contributory service concludes after June 30, 2021.</span></p><p dir="ltr" class="s2033392Normal-000000"><span class="s2033392DefaultParagraphFont">For any foundation member whose contributory service concluded after June 30, 2021, and before July 1, 2022, the term, final average compensation, means the highest average annual compensation earned by a member during any period of sixteen consecutive calendar quarters during the member's last forty calendar quarters of membership in the system, including time during which the member was not a member but for which the member has received credit under the system.</span></p><p dir="ltr" class="s2033392Normal-000001"><span class="s2033392DefaultParagraphFont">For any foundation member whose contributory service concluded after June 30, 2022, the term, final average compensation, means the highest average annual compensation earned by a member during any period of twenty consecutive calendar quarters during the member's last forty calendar quarters of membership in the system, including time during which the member was not a member but for which the member has received credit under the system.</span></p><p dir="ltr" class="s2033392Normal-000001"><span class="s2033392DefaultParagraphFont">For purposes of determining final average compensation if periods of contributory service are separated by breaks, any service earned from covered employment may be aggregated to constitute a period of consecutive calendar quarters.</span></p><p dir="ltr" class="s2033392Normal-000001"><span class="s2033392DefaultParagraphFont">For any member who has less than the number of calendar quarters of membership considered in the computation of the member's final average compensation, but more than four, the member's final average compensation shall be based on the compensation received in all quarters of membership. For any member who has four calendar quarters of membership or less, the member's final average compensation shall be based on the member's annual compensation.</span></p><p dir="ltr" class="s2033392Normal"><span xml:space="preserve" class="s2033392000002"> </span></p><p dir="ltr" class="s2033392Normal"><span class="s2033392SCL">Source:</span><span xml:space="preserve" class="s2033392SCL-000003"> SL 2017, ch 29, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-89.8"><span class="s2033392SCL-000003">3-12-89.8</span></a><span class="s2033392SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033393Normal { 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.s2033393SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033393CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033393Normal-000000 { 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.s2033393DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033393Normal-000001 { text-indent: 0.25in; 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; } p.s2033393Normal-000002 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033393000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033393SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033393SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033393Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1104"><span class="s2033393SENU">3-12C-1104</span></a><span xml:space="preserve" class="s2033393SENU">. </span><span class="s2033393CL">Limitations on final average compensation for foundation members whose contributory service concludes after June 30, 2020.</span></p><p dir="ltr" class="s2033393Normal-000000"><span class="s2033393DefaultParagraphFont">For purposes of this section, the term, compensation year, means each separate, mutually exclusive period of four consecutive calendar quarters considered in the computation of final average compensation. The earliest compensation year is the earliest four consecutive calendar quarters considered in the computation of final average compensation, and each subsequent compensation year is the subsequent period of four consecutive calendar quarters beginning after the earliest compensation year and continuing with each compensation year thereafter.</span></p><p dir="ltr" class="s2033393Normal-000001"><span class="s2033393DefaultParagraphFont">For any foundation member whose contributory service concluded after June 30, 2020, compensation is limited as follows:</span></p><p dir="ltr" class="s2033393Normal-000002"><span class="s2033393DefaultParagraphFont">(1)    Compensation in the earliest compensation year is limited to one hundred five percent of the highest compensation received for any prior four-consecutive-calendar-quarter period during the member's last forty calendar quarters of membership in the system, including time during which the member was not a member but for which the member has received credit under the system; and</span></p><p dir="ltr" class="s2033393Normal-000002"><span class="s2033393DefaultParagraphFont">(2)    Compensation for each subsequent compensation year is limited to one hundred five percent of the highest compensation considered for any prior compensation year, but the amount may not be less than the limit applied in subdivision (1).</span></p><p dir="ltr" class="s2033393Normal-000001"><span xml:space="preserve" class="s2033393DefaultParagraphFont">Compensation in excess of the limited amount may not be included in the computation of final average compensation but is payable pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-713"><span class="s2033393DefaultParagraphFont">3-12C-713</span></a><span class="s2033393DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033393Normal-000001"><span class="s2033393DefaultParagraphFont">If the earliest compensation year includes one or more quarters from the earliest four consecutive calendar quarters in the member's last forty quarters of membership in the system, that compensation year may not be limited.</span></p><p dir="ltr" class="s2033393Normal-000001"><span class="s2033393DefaultParagraphFont">Compensation in the last calendar quarter considered in the computation of final average compensation is limited to one hundred five percent of the highest compensation considered for any prior calendar quarter during the member's last forty calendar quarters of membership in the system.</span></p><p dir="ltr" class="s2033393Normal-000001"><span class="s2033393DefaultParagraphFont">The final average compensation of any foundation member whose contributory service concluded before July 1, 2022, may not be less than the member's final average compensation computed as of June 30, 2017.</span></p><p dir="ltr" class="s2033393Normal"><span xml:space="preserve" class="s2033393000003"> </span></p><p dir="ltr" class="s2033393Normal"><span class="s2033393SCL">Source:</span><span xml:space="preserve" class="s2033393SCL-000004"> SL 2017, ch 29, § 4; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-89.10"><span class="s2033393SCL-000004">3-12-89.10</span></a><span class="s2033393SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033394Normal { 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.s2033394SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033394CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033394Normal-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.s2033394DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033394000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033394SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033394SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033394Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1105"><span class="s2033394SENU">3-12C-1105</span></a><span xml:space="preserve" class="s2033394SENU">. </span><span class="s2033394CL">Normal retirement age for foundation members.</span></p><p dir="ltr" class="s2033394Normal-000000"><span class="s2033394DefaultParagraphFont">For any foundation member, normal retirement age is age sixty-five for Class A credited service and for Class B credited service as a justice, judge, and magistrate judge and age fifty-five for other Class B credited service.</span></p><p dir="ltr" class="s2033394Normal"><span xml:space="preserve" class="s2033394000001"> </span></p><p dir="ltr" class="s2033394Normal"><span class="s2033394SCL">Source:</span><span xml:space="preserve" class="s2033394SCL-000002"> SL 2016, ch 32, § 28; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-89.6"><span class="s2033394SCL-000002">3-12-89.6</span></a><span class="s2033394SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sbb2e4d6e459a4046a30979266dc9b355Normal { 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.sbb2e4d6e459a4046a30979266dc9b355SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sbb2e4d6e459a4046a30979266dc9b355CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sbb2e4d6e459a4046a30979266dc9b355Statute { 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.sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sbb2e4d6e459a4046a30979266dc9b355StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.sbb2e4d6e459a4046a30979266dc9b355000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sbb2e4d6e459a4046a30979266dc9b355NoIndent { 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.sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sbb2e4d6e459a4046a30979266dc9b355SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1106 - Normal retirement benefit for foundation members for Class A credited service."><meta property="og:description" content="SDLRC Codified Law 3-12C-1106 - Normal retirement benefit for foundation members for Class A credited service."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1106"><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="sbb2e4d6e459a4046a30979266dc9b355Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1106" rel="noopener"><span class="sbb2e4d6e459a4046a30979266dc9b355SENU">3-12C-1106</span></a><span xml:space="preserve" class="sbb2e4d6e459a4046a30979266dc9b355SENU">. </span><span class="sbb2e4d6e459a4046a30979266dc9b355CL">Normal retirement benefit for foundation members for Class A credited service.</span></p><p dir="ltr" class="sbb2e4d6e459a4046a30979266dc9b355Statute"><span xml:space="preserve" class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont">Upon retirement, a foundation member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1113" rel="noopener"><span class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont">3-12C-1113</span></a><span class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont">, for Class A credited service, equal to the larger of one and seven-tenths percent of final average compensation for each year of Class A credited service before July 1, 2008, plus one and fifty-five hundredths percent of final average compensation for each year of Class A credited service after July 1, 2008, or two and four-tenths percent of final average compensation for each year of Class A credited service before July 1, 2008, plus two and twenty-five hundredths percent of final average compensation for each year of Class A credited service after July 1, 2008, less other public benefits.</span></p><p dir="ltr" class="sbb2e4d6e459a4046a30979266dc9b355Statute"><span class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont">For purposes of this section:</span></p><p dir="ltr" class="sbb2e4d6e459a4046a30979266dc9b355StatuteNumber1"><span class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont">(1)    Federal military retirement or federal national guard retirement benefits are not other public benefits; and</span></p><p dir="ltr" class="sbb2e4d6e459a4046a30979266dc9b355StatuteNumber1"><span xml:space="preserve" class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont">(2)    Any Class A member with a period of employment with any public employer not covered by federal social security is presumed to be entitled to the maximum primary social security benefit permitted at the time of retirement. Class A credited service is all credited service under the system or any of the retirement systems consolidated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1601" rel="noopener"><span class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont">3-12C-1601</span></a><span class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont">.</span></p><p dir="ltr" class="sbb2e4d6e459a4046a30979266dc9b355Normal"><span xml:space="preserve" class="sbb2e4d6e459a4046a30979266dc9b355000000"> </span></p><p dir="ltr" class="sbb2e4d6e459a4046a30979266dc9b355NoIndent"><span xml:space="preserve" class="sbb2e4d6e459a4046a30979266dc9b355DefaultParagraphFont-000001">Source: </span><span class="sbb2e4d6e459a4046a30979266dc9b355SCL">SL 1967, ch 303, § 7; SDCL § 3-12-27; SL 1968, ch 216, § 1; SDCL Supp, § 3-12-25; SL 1970, ch 25, § 5; SL 1974, ch 35, § 47; SL 1975, ch 39, § 5; SL 1982, ch 39; SL 1986, ch 37, § 5; SL 1987, ch 37, §§ 7, 8; SL 1989, ch 38, § 4; SL 1990, ch 37; SL 1991, ch 32; SL 1993, ch 44, § 4; SL 1994, ch 34, § 3; SL 1997, ch 26, § 2; SL 1998, ch 15, § 15; SL 1999, ch 15, § 2; SL 2000, ch 25, § 1; SL 2002, ch 23, § 1; SL 2008, ch 23, § 1; SL 2016, ch 32, § 36; SDCL § 3-12-91; SL 2019, ch 22, § 1; SL 2023, ch 14, § 5; SL 2025, ch 27, § 49.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033396Normal { 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.s2033396SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033396CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033396Normal-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.s2033396DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033396000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033396SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033396SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033396Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033396SENU">3-12C-1107</span></a><span xml:space="preserve" class="s2033396SENU">. </span><span class="s2033396CL">Normal retirement benefit for foundation members for Class B credited service other than justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s2033396Normal-000000"><span xml:space="preserve" class="s2033396DefaultParagraphFont">Upon retirement, a foundation member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1113"><span class="s2033396DefaultParagraphFont">3-12C-1113</span></a><span class="s2033396DefaultParagraphFont">, for Class B credited service other than as a justice, judge, or magistrate judge, equal to two and four-tenths percent of final average compensation for each year of Class B credited service other than as a justice, judge, or magistrate judge before July 1, 2008, plus two percent of final average compensation for each year of Class B credited service other than as a justice, judge, or magistrate judge after July 1, 2008.</span></p><p dir="ltr" class="s2033396Normal"><span xml:space="preserve" class="s2033396000001"> </span></p><p dir="ltr" class="s2033396Normal"><span class="s2033396SCL">Source:</span><span xml:space="preserve" class="s2033396SCL-000002"> SL 1974, ch 35, § 48; SL 1993, ch 44, § 5; SL 1994, ch 34, § 4; SL 1997, ch 26, § 3; SL 1998, ch 15, § 16; SL 1999, ch 15, § 3; SL 2000, ch 25, § 2; SL 2008, ch 23, § 2; SL 2016, ch 32, § 38; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-92"><span class="s2033396SCL-000002">3-12-92</span></a><span class="s2033396SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033397Normal { 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.s2033397SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033397CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033397Normal-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.s2033397DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033397000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033397SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033397SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033397Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1108"><span class="s2033397SENU">3-12C-1108</span></a><span xml:space="preserve" class="s2033397SENU">. </span><span class="s2033397CL">Normal retirement benefit for foundation members for Class B credited service as justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s2033397Normal-000000"><span xml:space="preserve" class="s2033397DefaultParagraphFont">Upon retirement, a foundation member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1113"><span class="s2033397DefaultParagraphFont">3-12C-1113</span></a><span class="s2033397DefaultParagraphFont">, for the first fifteen years of Class B credited service as a justice, judge, or magistrate judge equal to three and seven hundred thirty-three thousandths percent of final average compensation for each year of Class B credited service as a justice, judge, or magistrate judge before July 1, 2008, plus three and three hundred thirty-three thousandths percent of final average compensation for each year of Class B credited service as a justice, judge, or magistrate judge after July 1, 2008. A foundation member shall also receive for Class B credited service as a justice, judge, or magistrate judge in excess of fifteen years, two and four-tenths percent of final average compensation for each year of Class B credited service as a justice, judge, or magistrate judge before July 1, 2008, plus two percent of final average compensation for each year of Class B credited service as a justice, judge, or magistrate judge after July 1, 2008.</span></p><p dir="ltr" class="s2033397Normal"><span xml:space="preserve" class="s2033397000001"> </span></p><p dir="ltr" class="s2033397Normal"><span class="s2033397SCL">Source:</span><span xml:space="preserve" class="s2033397SCL-000002"> SL 1994, ch 34, § 5; SL 1997, ch 26, § 4; SL 1998, ch 15, § 17; SL 1999, ch 15, § 4; SL 2000, ch 25, § 3; SL 2008, ch 23, § 3; SL 2016, ch 32, § 39; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-92.4"><span class="s2033397SCL-000002">3-12-92.4</span></a><span class="s2033397SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033398Normal { 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.s2033398SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033398CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033398Normal-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.s2033398DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033398Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033398000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033398SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033398SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033398Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1109"><span class="s2033398SENU">3-12C-1109</span></a><span xml:space="preserve" class="s2033398SENU">. </span><span class="s2033398CL">Adjustments in benefit for certain retirees based on time and circumstances of retirement.</span></p><p dir="ltr" class="s2033398Normal-000000"><span xml:space="preserve" class="s2033398DefaultParagraphFont">Each member who retired before July 1, 2008, and each beneficiary of a deceased member who retired prior to July 1, 2008, shall receive a retirement benefit based on the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1106"><span class="s2033398DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033398DefaultParagraphFont">3-12C-1107</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont">, or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1108"><span class="s2033398DefaultParagraphFont">3-12C-1108</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont"> as applicable based on the member's final average compensation, credited service, and other public benefits at retirement and the benefit formulas in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1106"><span class="s2033398DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033398DefaultParagraphFont">3-12C-1107</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1108"><span class="s2033398DefaultParagraphFont">3-12C-1108</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont"> when increased by the COLA from the date of retirement to July 1, 2008.</span></p><p dir="ltr" class="s2033398Normal-000001"><span class="s2033398DefaultParagraphFont">Increased benefits as provided by any amendment to this section are prospective in nature and are effective July 1, 2008.</span></p><p dir="ltr" class="s2033398Normal-000001"><span xml:space="preserve" class="s2033398DefaultParagraphFont">Each member or beneficiary of a member who retired before July 1, 1974, who is receiving benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1605"><span class="s2033398DefaultParagraphFont">3-12C-1605</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont"> or each member or beneficiary of a member who elected to retire pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1606"><span class="s2033398DefaultParagraphFont">3-12C-1606</span></a><span class="s2033398DefaultParagraphFont">, shall have a benefit increased by an additional two percent as of July 1, 2008, in lieu of the increase provided in this section.</span></p><p dir="ltr" class="s2033398Normal-000001"><span class="s2033398DefaultParagraphFont">If a member retired before normal retirement age, the benefit shall be adjusted in accordance with the law in effect at the time of retirement. If a member elected an alternate method of payment under the law in effect at the time of retirement, the benefit shall be adjusted in accordance with the law in effect at the time of retirement. If the additional benefit is to be paid to a beneficiary of a deceased member, the additional benefit shall be adjusted in accordance with the law in effect at the time of the member's retirement.</span></p><p dir="ltr" class="s2033398Normal-000001"><span class="s2033398DefaultParagraphFont">No member or beneficiary whose retirement benefit terminated before July 1, 2008, may receive any benefits pursuant to this section.</span></p><p dir="ltr" class="s2033398Normal"><span xml:space="preserve" class="s2033398000002"> </span></p><p dir="ltr" class="s2033398Normal"><span class="s2033398SCL">Source:</span><span xml:space="preserve" class="s2033398SCL-000003"> SL 1997, ch 26, § 7; SL 1998, ch 15, § 19; SL 1999, ch 15, § 6; SL 2000, ch 25, § 4; SL 2008, ch 23, § 4; SL 2017, ch 27, § 13; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-92.6"><span class="s2033398SCL-000003">3-12-92.6</span></a><span class="s2033398SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033399Normal { 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.s2033399SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033399CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033399Normal-000000 { 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.s2033399DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033399Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033399000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033399SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033399SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033399Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1110"><span class="s2033399SENU">3-12C-1110</span></a><span xml:space="preserve" class="s2033399SENU">. </span><span class="s2033399CL">Reduction age defined for foundation members.</span></p><p dir="ltr" class="s2033399Normal-000000"><span class="s2033399DefaultParagraphFont">For any foundation member, the term, reduction age, means the age at which the sum of the foundation member's age and credited service equals a number as follows:</span></p><p dir="ltr" class="s2033399Normal-000001"><span class="s2033399DefaultParagraphFont">(1)    For Class A credited service, an age not less than fifty-five and at which the sum of the foundation member's age and credited service equals eighty-five;</span></p><p dir="ltr" class="s2033399Normal-000001"><span class="s2033399DefaultParagraphFont">(2)    For Class B credited service as a justice, judge, or magistrate judge, an age not less than fifty-five and at which the sum of the foundation member's age and credited service equals eighty; and</span></p><p dir="ltr" class="s2033399Normal-000001"><span class="s2033399DefaultParagraphFont">(3)    For Class B credited service other than as a justice, judge, or magistrate judge, an age not less than forty-five and at which the sum of the foundation member's age and credited service equals seventy-five.</span></p><p dir="ltr" class="s2033399Normal"><span xml:space="preserve" class="s2033399000002"> </span></p><p dir="ltr" class="s2033399Normal"><span class="s2033399SCL">Source:</span><span xml:space="preserve" class="s2033399SCL-000003"> SL 2016, ch 32, § 29; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-89.7"><span class="s2033399SCL-000003">3-12-89.7</span></a><span class="s2033399SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033400Normal { 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.s2033400SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033400CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033400Normal-000000 { 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.s2033400DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033400Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033400000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033400SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033400SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033400Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1111"><span class="s2033400SENU">3-12C-1111</span></a><span xml:space="preserve" class="s2033400SENU">. </span><span class="s2033400CL">Early retirement benefits for foundation members.</span></p><p dir="ltr" class="s2033400Normal-000000"><span class="s2033400DefaultParagraphFont">Any vested foundation member can retire in the ten years preceding the member's normal retirement age and the retirement benefit shall be reduced by the lesser of the following:</span></p><p dir="ltr" class="s2033400Normal-000001"><span class="s2033400DefaultParagraphFont">(1)    One-fourth of one percent for each full month which remains between the date of commencement of payments and the date the member will reach the member's normal retirement age; or</span></p><p dir="ltr" class="s2033400Normal-000001"><span class="s2033400DefaultParagraphFont">(2)    One-fourth of one percent for each full month which remains between the date of commencement of payments and the date the member will reach the member's reduction age.</span></p><p dir="ltr" class="s2033400Normal"><span xml:space="preserve" class="s2033400000002"> </span></p><p dir="ltr" class="s2033400Normal"><span class="s2033400SCL">Source:</span><span xml:space="preserve" class="s2033400SCL-000003"> SL 1967, ch 303, § 7 as added by SL 1968, ch 216, § 1; SDCL Supp, § 3-12-27.1; SL 1970, ch 25, § 6; SL 1974, ch 35, § 60; SL 1978, ch 34, § 1; SL 1986, ch 37, § 8; SL 2016, ch 32, § 44; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-106"><span class="s2033400SCL-000003">3-12-106</span></a><span class="s2033400SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033401Normal { 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.s2033401SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033401CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033401Normal-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.s2033401DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033401000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033401SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033401SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033401Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1112"><span class="s2033401SENU">3-12C-1112</span></a><span xml:space="preserve" class="s2033401SENU">. </span><span class="s2033401CL">Adjustment of early retirement benefits for foundation members who retire before eligible for social security.</span></p><p dir="ltr" class="s2033401Normal-000000"><span class="s2033401DefaultParagraphFont">Any foundation member who retires before being eligible for social security retirement benefits may elect to receive initial retirement benefit payments from the system in an amount greater than the standard benefit payments computed on the basis of the member's age and earnings at retirement. The greater amount, in conjunction with a later reduced amount, shall be the actuarial equivalent of the normal retirement benefit computed on the basis of age at retirement. The greater amount shall be paid until the foundation member reaches the age of sixty-two, at which time the payment from the system shall be the reduced amount so that, as far as possible, the foundation member's combined monthly retirement income from the system and social security shall approximately equal the greater amount paid prior to age sixty-two.</span></p><p dir="ltr" class="s2033401Normal"><span xml:space="preserve" class="s2033401000001"> </span></p><p dir="ltr" class="s2033401Normal"><span class="s2033401SCL">Source:</span><span xml:space="preserve" class="s2033401SCL-000002"> SL 1974, ch 35, § 61; SL 2006, ch 20, § 1; SL 2016, ch 32, § 45; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-107"><span class="s2033401SCL-000002">3-12-107</span></a><span class="s2033401SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s41cda921658849ce800a9166df9094acNormal { 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.s41cda921658849ce800a9166df9094acSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s41cda921658849ce800a9166df9094acCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s41cda921658849ce800a9166df9094acStatute { 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.s41cda921658849ce800a9166df9094acDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s41cda921658849ce800a9166df9094ac000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s41cda921658849ce800a9166df9094acNoIndent { 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.s41cda921658849ce800a9166df9094acDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s41cda921658849ce800a9166df9094acSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1112.1 - Adjustment of early retirement benefits--Rescind election of annuity payment option--Overpayments."><meta property="og:description" content="SDLRC Codified Law 3-12C-1112.1 - Adjustment of early retirement benefits--Rescind election of annuity payment option--Overpayments."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1112.1"><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="s41cda921658849ce800a9166df9094acNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1112.1" rel="noopener"><span class="s41cda921658849ce800a9166df9094acSENU">3-12C-1112.1</span></a><span xml:space="preserve" class="s41cda921658849ce800a9166df9094acSENU">. </span><span class="s41cda921658849ce800a9166df9094acCL">Adjustment of early retirement benefits--Rescind election of annuity payment option--Overpayments.</span></p><p dir="ltr" class="s41cda921658849ce800a9166df9094acStatute"><span xml:space="preserve" class="s41cda921658849ce800a9166df9094acDefaultParagraphFont">A member may not elect to change normal payment of the member's retirement annuity in favor of adjusted payments pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1112" rel="noopener"><span class="s41cda921658849ce800a9166df9094acDefaultParagraphFont">3-12C-1112</span></a><span xml:space="preserve" class="s41cda921658849ce800a9166df9094acDefaultParagraphFont">, or the opposite if more than one monthly retirement annuity payment has been made to the member. If a member who has received one adjusted payment, pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1112" rel="noopener"><span class="s41cda921658849ce800a9166df9094acDefaultParagraphFont">3-12C-1112</span></a><span class="s41cda921658849ce800a9166df9094acDefaultParagraphFont">, elects to change to the normal method of payment, the system must deduct, in a lump sum, the amount of the resulting overpayment from the member's next monthly annuity payment. A deduction may be up to one hundred percent of the member's normal benefit and may extend to subsequent benefit payments to eliminate the overpayment in the shortest time possible.</span></p><p dir="ltr" class="s41cda921658849ce800a9166df9094acNormal"><span xml:space="preserve" class="s41cda921658849ce800a9166df9094ac000000"> </span></p><p dir="ltr" class="s41cda921658849ce800a9166df9094acNoIndent"><span xml:space="preserve" class="s41cda921658849ce800a9166df9094acDefaultParagraphFont-000001">Source: </span><span class="s41cda921658849ce800a9166df9094acSCL">SL 2025, ch 27, § 50.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033402Normal { 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.s2033402SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033402CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033402Normal-000000 { 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.s2033402DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033402Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033402Normal-000002 { text-indent: 0.25in; 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.s2033402000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033402SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033402SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033402Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1113"><span class="s2033402SENU">3-12C-1113</span></a><span xml:space="preserve" class="s2033402SENU">. </span><span class="s2033402CL">Effective date of retirement benefit of foundation member--Last payment--Retroactive retirement benefits.</span></p><p dir="ltr" class="s2033402Normal-000000"><span class="s2033402DefaultParagraphFont">Unless a foundation member's required beginning date for retirement occurs first, the early or normal retirement benefit of a foundation member is effective in accordance with whichever of the following is last:</span></p><p dir="ltr" class="s2033402Normal-000001"><span class="s2033402DefaultParagraphFont">(1)    The first day of the month following the date on which the member's contributory service terminated;</span></p><p dir="ltr" class="s2033402Normal-000001"><span class="s2033402DefaultParagraphFont">(2)    The first day of the month following an intervening complete calendar month after the date on which the member's written application for retirement benefits is received by the system; or</span></p><p dir="ltr" class="s2033402Normal-000001"><span class="s2033402DefaultParagraphFont">(3)    The first day of the month specified in the member's application for retirement.</span></p><p dir="ltr" class="s2033402Normal-000002"><span class="s2033402DefaultParagraphFont">The last payment of the member's benefit is for the month in which the member's death occurs.</span></p><p dir="ltr" class="s2033402Normal-000002"><span class="s2033402DefaultParagraphFont">Any foundation member who fails to make a timely application for retirement benefits may receive three months of benefits retroactive from the effective date of the member's retirement benefit. However, no foundation member may receive any retroactive benefits for any period of time before the first day of the month following the date on which the member's contributory service terminated.</span></p><p dir="ltr" class="s2033402Normal"><span xml:space="preserve" class="s2033402000003"> </span></p><p dir="ltr" class="s2033402Normal"><span class="s2033402SCL">Source:</span><span xml:space="preserve" class="s2033402SCL-000004"> SL 1967, ch 303, § 7; SDCL § 3-12-27; SL 1968, ch 216, § 1; SDCL Supp, § 3-12-25; SL 1970, ch 25, § 5; SL 1974, ch 35, § 46; SL 1978, ch 32, § 4; SL 1993, ch 42, § 4; SL 2016, ch 32, § 35; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-90"><span class="s2033402SCL-000004">3-12-90</span></a><span class="s2033402SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s6b7d60bcf75942259a8577ffffbe14daNormal { 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.s6b7d60bcf75942259a8577ffffbe14daSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s6b7d60bcf75942259a8577ffffbe14daCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s6b7d60bcf75942259a8577ffffbe14daStatute { 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.s6b7d60bcf75942259a8577ffffbe14daDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s6b7d60bcf75942259a8577ffffbe14da000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s6b7d60bcf75942259a8577ffffbe14daNoIndent { 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.s6b7d60bcf75942259a8577ffffbe14daDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s6b7d60bcf75942259a8577ffffbe14daSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1114 - Surviving spouse benefit--Retired foundation member--Effective dates."><meta property="og:description" content="SDLRC Codified Law 3-12C-1114 - Surviving spouse benefit--Retired foundation member--Effective dates."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1114"><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="s6b7d60bcf75942259a8577ffffbe14daNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1114" rel="noopener"><span class="s6b7d60bcf75942259a8577ffffbe14daSENU">3-12C-1114</span></a><span xml:space="preserve" class="s6b7d60bcf75942259a8577ffffbe14daSENU">. </span><span class="s6b7d60bcf75942259a8577ffffbe14daCL">Surviving spouse benefit--Retired foundation member--Effective dates.</span></p><p dir="ltr" class="s6b7d60bcf75942259a8577ffffbe14daStatute"><span class="s6b7d60bcf75942259a8577ffffbe14daDefaultParagraphFont">Upon the death of any foundation member who has reached normal retirement age or who has retired with a benefit payable from the system, the surviving spouse is eligible to receive a benefit, payable in monthly installments, equal to sixty percent of the retirement benefit that the foundation member was receiving or was eligible to receive at the time of death. The surviving spouse benefit of a spouse of a retiree is effective the first day of the month following the death of the member and is payable upon the receipt of a completed application. The surviving spouse benefit of a spouse of a member who had reached normal retirement age, but had not begun a retirement benefit, is effective the first day of the month following the date on which the member's contributory service terminates and is payable upon the receipt of a completed application.</span></p><p dir="ltr" class="s6b7d60bcf75942259a8577ffffbe14daNormal"><span xml:space="preserve" class="s6b7d60bcf75942259a8577ffffbe14da000000"> </span></p><p dir="ltr" class="s6b7d60bcf75942259a8577ffffbe14daNoIndent"><span xml:space="preserve" class="s6b7d60bcf75942259a8577ffffbe14daDefaultParagraphFont-000001">Source: </span><span class="s6b7d60bcf75942259a8577ffffbe14daSCL">SL 1967, ch 303, § 9 as added by SL 1968, ch 216, § 1; SDCL Supp, § 3-12-29.2; SL 1970, ch 25, § 8; SL 1974, ch 35, § 50; SL 1999, ch 16, § 1; SL 2016, ch 32, § 40; SDCL § 3-12-94; SL 2019, ch 22, § 1; SL 2020, ch 15, § 3; SL 2025, ch 27, § 51.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080019Normal { 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.s2080019SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080019CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2080019Statute { 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.s2080019DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2080019StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2080019StatuteNumber2 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2080019Statute-000000 { text-indent: 0.25in; 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; } a.s2080019000001 { text-decoration: none; } span.s2080019000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080019DefaultParagraphFont-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080019SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2080019Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1115"><span class="s2080019SENU">3-12C-1115</span></a><span xml:space="preserve" class="s2080019SENU">. </span><span class="s2080019CL">Surviving spouse benefit--Foundation member--Calculation of benefit.</span></p><p dir="ltr" class="s2080019Statute"><span xml:space="preserve" class="s2080019DefaultParagraphFont">If no family benefit is being paid pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-907"><span class="s2080019DefaultParagraphFont">3-12C-907</span></a><span class="s2080019DefaultParagraphFont">, a surviving spouse of a contributing foundation member who had acquired at least three years of contributory service or noncontributory service or who died while performing usual duties for the employer and who died after June 30, 2015, is, upon attaining the age of sixty-five, eligible to receive a surviving spouse benefit calculated as follows, whichever is applicable:</span></p><p dir="ltr" class="s2080019StatuteNumber1"><span class="s2080019DefaultParagraphFont">(1)    If a family benefit had been paid, sixty percent of the family benefit paid at the time the family benefit ended, increased by the COLA from the date the last family benefit was paid; or</span></p><p dir="ltr" class="s2080019StatuteNumber1"><span class="s2080019DefaultParagraphFont">(2)    If a family benefit had not been paid, sixty percent of the amount calculated pursuant to subsection (a) or (b), whichever is greater, increased by the COLA from the date of the member's death:</span></p><p dir="ltr" class="s2080019StatuteNumber2"><span class="s2080019DefaultParagraphFont">(a)    Twenty-five percent of the member's final average compensation at the time of the member's death; or</span></p><p dir="ltr" class="s2080019StatuteNumber2"><span class="s2080019DefaultParagraphFont">(b)    The member's unreduced accrued retirement benefit at the time of the member's death.</span></p><p dir="ltr" class="s2080019Statute-000000"><a id="_pagenumber4" class="s2080019000001"></a><span class="s2080019DefaultParagraphFont">The surviving spouse benefit shall be paid, upon receipt of a completed application, in monthly installments for the life of the surviving spouse. If the surviving spouse is eligible at the time of the member's death, the benefit is effective the first day of the month following the date on which the member's contributory service terminates.</span></p><p dir="ltr" class="s2080019Normal"><span xml:space="preserve" class="s2080019000002"> </span></p><p dir="ltr" class="s2080019Normal"><span xml:space="preserve" class="s2080019DefaultParagraphFont-000003">Source: </span><span class="s2080019SCL">SL 2014, ch 20, § 18; SL 2015, ch 26, § 1; SL 2016, ch 32, § 42; SL 2017, ch 27, § 15; SDCL § 3-12-95.5; SL 2019, ch 22, §§ 26, 45; SL 2020, ch 15, § 4.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033405Normal { 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.s2033405SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033405CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033405Normal-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.s2033405DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033405000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033405SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033405SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033405Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1116"><span class="s2033405SENU">3-12C-1116</span></a><span xml:space="preserve" class="s2033405SENU">. </span><span class="s2033405CL">Early surviving spouse benefit for foundation member's spouse.</span></p><p dir="ltr" class="s2033405Normal-000000"><span class="s2033405DefaultParagraphFont">A foundation member's spouse who would be eligible to receive a surviving spouse benefit at age sixty-five may elect to start the benefit prior to age sixty-five but no earlier than the date on which the surviving spouse attains the age of fifty-five. The early surviving spouse benefit, payable for the life of the surviving spouse, is the surviving spouse benefit reduced by five percent for each full year and prorated for each additional full month between the date the early surviving spouse benefit commences and the date the surviving spouse attains the age of sixty-five.</span></p><p dir="ltr" class="s2033405Normal"><span xml:space="preserve" class="s2033405000001"> </span></p><p dir="ltr" class="s2033405Normal"><span class="s2033405SCL">Source:</span><span xml:space="preserve" class="s2033405SCL-000002"> SL 2014, ch 19, § 1, eff. July 1, 2015; SL 2016, ch 32, § 43; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-95.6"><span class="s2033405SCL-000002">3-12-95.6</span></a><span class="s2033405SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033406Normal { 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.s2033406SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033406CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033406Normal-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.s2033406DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033406Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033406000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033406SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033406SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033406Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1201"><span class="s2033406SENU">3-12C-1201</span></a><span xml:space="preserve" class="s2033406SENU">. </span><span class="s2033406CL">Final average compensation defined for generational members.</span></p><p dir="ltr" class="s2033406Normal-000000"><span class="s2033406DefaultParagraphFont">For any generational member, the term, final average compensation, means the highest average annual compensation earned by a member during any period of twenty consecutive calendar quarters during the member's last forty calendar quarters of membership in the system.</span></p><p dir="ltr" class="s2033406Normal-000001"><span class="s2033406DefaultParagraphFont">For purposes of determining final average compensation if periods of contributory service are separated by breaks, any service earned from covered employment may be aggregated to constitute a period of twenty consecutive calendar quarters.</span></p><p dir="ltr" class="s2033406Normal-000001"><span class="s2033406DefaultParagraphFont">For any member who has less than twenty but more than four calendar quarters of membership in the system, the member's final average compensation shall be based on the compensation received in all quarters of membership. For any member who has four calendar quarters of membership or less, the member's final average compensation shall be based on the member's annual compensation.</span></p><p dir="ltr" class="s2033406Normal"><span xml:space="preserve" class="s2033406000002"> </span></p><p dir="ltr" class="s2033406Normal"><span class="s2033406SCL">Source:</span><span xml:space="preserve" class="s2033406SCL-000003"> SL 2016, ch 32, § 3; SL 2017, ch 29, § 5; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-502"><span class="s2033406SCL-000003">3-12-502</span></a><span class="s2033406SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033407Normal { 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.s2033407SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033407CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033407Normal-000000 { 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.s2033407DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033407Normal-000001 { text-indent: 0.25in; 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; } p.s2033407Normal-000002 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033407000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033407SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033407SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033407Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1202"><span class="s2033407SENU">3-12C-1202</span></a><span xml:space="preserve" class="s2033407SENU">. </span><span class="s2033407CL">Limitations on final average compensation for generational members.</span></p><p dir="ltr" class="s2033407Normal-000000"><span class="s2033407DefaultParagraphFont">For purposes of this section, the term, compensation year, means each separate, mutually exclusive period of four consecutive calendar quarters considered in the computation of final average compensation. The earliest compensation year is the earliest four consecutive calendar quarters considered in the computation of final average compensation and each subsequent compensation year is the subsequent period of four consecutive calendar quarters beginning after the earliest compensation year and continuing with each compensation year thereafter.</span></p><p dir="ltr" class="s2033407Normal-000001"><span class="s2033407DefaultParagraphFont">For any generational member, compensation is limited as follows:</span></p><p dir="ltr" class="s2033407Normal-000002"><span class="s2033407DefaultParagraphFont">(1)    Compensation in the earliest compensation year is limited to one hundred five percent of the highest compensation received for any prior four-consecutive-calendar-quarter period during the member's last forty calendar quarters of membership in the system, including time during which the member was not a member but for which the member has received credit under the system;</span></p><p dir="ltr" class="s2033407Normal-000002"><span class="s2033407DefaultParagraphFont">(2)    Compensation for each subsequent compensation year is limited to one hundred five percent of the highest compensation considered for any prior compensation year, but the amount may not be less than the limit applied in subdivision (1).</span></p><p dir="ltr" class="s2033407Normal-000001"><span xml:space="preserve" class="s2033407DefaultParagraphFont">Compensation in excess of the limited amount may not be included in the computation of final average compensation but is payable pursuant to section § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-713"><span class="s2033407DefaultParagraphFont">3-12C-713</span></a><span class="s2033407DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033407Normal-000001"><span class="s2033407DefaultParagraphFont">If the earliest compensation year includes one or more quarters from the earliest four consecutive calendar quarters in the member's last forty quarters of membership in the system, that compensation year may not be limited.</span></p><p dir="ltr" class="s2033407Normal-000001"><span class="s2033407DefaultParagraphFont">Compensation in the last calendar quarter considered in the computation of final average compensation is limited to one hundred five percent of the highest compensation considered for any prior calendar quarter during the member's last forty calendar quarters of membership in the system.</span></p><p dir="ltr" class="s2033407Normal"><span xml:space="preserve" class="s2033407000003"> </span></p><p dir="ltr" class="s2033407Normal"><span class="s2033407SCL">Source:</span><span xml:space="preserve" class="s2033407SCL-000004"> SL 2017, ch 29, § 6; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-502.1"><span class="s2033407SCL-000004">3-12-502.1</span></a><span class="s2033407SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033408Normal { 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.s2033408SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033408CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033408Normal-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.s2033408DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033408000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033408SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033408SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033408Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1203"><span class="s2033408SENU">3-12C-1203</span></a><span xml:space="preserve" class="s2033408SENU">. </span><span class="s2033408CL">Normal retirement age for generational members.</span></p><p dir="ltr" class="s2033408Normal-000000"><span class="s2033408DefaultParagraphFont">For any generational member, normal retirement age is sixty-seven for Class A credited service and for Class B credited service as a justice, judge, and magistrate judge and age fifty-seven for other Class B credited service. The Legislature may increase the normal retirement age for some or all then-contributing members if life expectancy at retirement continues to increase, as substantiated by a periodic actuarial experience analysis that takes into account census data of all active members, vested terminated members, and retired members as well as beneficiaries of the system.</span></p><p dir="ltr" class="s2033408Normal"><span xml:space="preserve" class="s2033408000001"> </span></p><p dir="ltr" class="s2033408Normal"><span class="s2033408SCL">Source:</span><span xml:space="preserve" class="s2033408SCL-000002"> SL 2016, ch 32, § 5; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-504"><span class="s2033408SCL-000002">3-12-504</span></a><span class="s2033408SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033409Normal { 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.s2033409SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033409CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033409Normal-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.s2033409DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033409000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033409SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033409SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033409Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1204"><span class="s2033409SENU">3-12C-1204</span></a><span xml:space="preserve" class="s2033409SENU">. </span><span class="s2033409CL">Normal retirement benefit for generational members for Class A credited service.</span></p><p dir="ltr" class="s2033409Normal-000000"><span class="s2033409DefaultParagraphFont">Upon retirement, a generational member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter, for Class A credited service, equal to one and eight-tenths percent of final average compensation for each year of Class A credited service.</span></p><p dir="ltr" class="s2033409Normal"><span xml:space="preserve" class="s2033409000001"> </span></p><p dir="ltr" class="s2033409Normal"><span class="s2033409SCL">Source:</span><span xml:space="preserve" class="s2033409SCL-000002"> SL 2016, ch 32, § 6; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-505"><span class="s2033409SCL-000002">3-12-505</span></a><span class="s2033409SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033410Normal { 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.s2033410SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033410CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033410Normal-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.s2033410DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033410000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033410SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033410SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033410Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1205"><span class="s2033410SENU">3-12C-1205</span></a><span xml:space="preserve" class="s2033410SENU">. </span><span class="s2033410CL">Normal retirement benefit for generational members for Class B credited service other than justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s2033410Normal-000000"><span class="s2033410DefaultParagraphFont">Upon retirement, a generational member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter, for Class B credited service other than as a justice, judge, or magistrate judge, equal to two percent of final average compensation for each year of Class B credited service other than as a justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s2033410Normal"><span xml:space="preserve" class="s2033410000001"> </span></p><p dir="ltr" class="s2033410Normal"><span class="s2033410SCL">Source:</span><span xml:space="preserve" class="s2033410SCL-000002"> SL 2016, ch 32, § 7; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-506"><span class="s2033410SCL-000002">3-12-506</span></a><span class="s2033410SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033411Normal { 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.s2033411SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033411CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033411Normal-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.s2033411DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033411000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033411SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033411SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033411Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1206"><span class="s2033411SENU">3-12C-1206</span></a><span xml:space="preserve" class="s2033411SENU">. </span><span class="s2033411CL">Normal retirement benefit for generational members for Class B credited service as justice, judge, or magistrate judge.</span></p><p dir="ltr" class="s2033411Normal-000000"><span class="s2033411DefaultParagraphFont">Upon retirement, a generational member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter, equal to three and three hundred thirty-three thousands percent of final average compensation for the first fifteen years of Class B credited service as a justice, judge, or magistrate judge and two percent of final average compensation for each year of Class B credited service as a justice, judge, or magistrate judge in excess of fifteen years.</span></p><p dir="ltr" class="s2033411Normal"><span xml:space="preserve" class="s2033411000001"> </span></p><p dir="ltr" class="s2033411Normal"><span class="s2033411SCL">Source:</span><span xml:space="preserve" class="s2033411SCL-000002"> SL 2016, ch 32, § 8; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-507"><span class="s2033411SCL-000002">3-12-507</span></a><span class="s2033411SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033412Normal { 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.s2033412SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033412CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033412Normal-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.s2033412DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033412000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033412SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033412SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033412Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1207"><span class="s2033412SENU">3-12C-1207</span></a><span xml:space="preserve" class="s2033412SENU">. </span><span class="s2033412CL">Early retirement benefits for generational members.</span></p><p dir="ltr" class="s2033412Normal-000000"><span class="s2033412DefaultParagraphFont">Any vested generational member may elect to start the retirement benefit in the ten years preceding the member's normal retirement age. However, no retirement benefit may be paid unless the member submits a completed retirement application to the system that includes the benefit option elected by the member. The normal retirement benefit shall be reduced by five percent for each full year and prorated for each additional full month between the date the early retirement benefit commences and the date the member attains normal retirement age.</span></p><p dir="ltr" class="s2033412Normal"><span xml:space="preserve" class="s2033412000001"> </span></p><p dir="ltr" class="s2033412Normal"><span class="s2033412SCL">Source:</span><span xml:space="preserve" class="s2033412SCL-000002"> SL 2016, ch 32, § 15; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-513"><span class="s2033412SCL-000002">3-12-513</span></a><span class="s2033412SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.saaa72276812d4ae08aeaa5b6c7dc3b99Normal { 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.saaa72276812d4ae08aeaa5b6c7dc3b99SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.saaa72276812d4ae08aeaa5b6c7dc3b99CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.saaa72276812d4ae08aeaa5b6c7dc3b99Statute { 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.saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.saaa72276812d4ae08aeaa5b6c7dc3b99StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.saaa72276812d4ae08aeaa5b6c7dc3b99000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.saaa72276812d4ae08aeaa5b6c7dc3b99NoIndent { 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.saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.saaa72276812d4ae08aeaa5b6c7dc3b99SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1208 - Application for retirement benefit--Spouse signature required--Exceptions."><meta property="og:description" content="SDLRC Codified Law 3-12C-1208 - Application for retirement benefit--Spouse signature required--Exceptions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1208"><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="saaa72276812d4ae08aeaa5b6c7dc3b99Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1208" rel="noopener"><span class="saaa72276812d4ae08aeaa5b6c7dc3b99SENU">3-12C-1208</span></a><span xml:space="preserve" class="saaa72276812d4ae08aeaa5b6c7dc3b99SENU">. </span><span class="saaa72276812d4ae08aeaa5b6c7dc3b99CL">Application for retirement benefit--Spouse signature required--Exceptions.</span></p><p dir="ltr" class="saaa72276812d4ae08aeaa5b6c7dc3b99Statute"><span class="saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont">No retirement benefit may be paid unless the system has received a completed application for a retirement benefit, including the benefit option elected. The application must be made to the executive director, on a form approved by the system. If the member is married, the member's spouse must sign the form.</span></p><p dir="ltr" class="saaa72276812d4ae08aeaa5b6c7dc3b99Statute"><span class="saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont">A member who is married is not required to obtain the signature of the member's spouse if the member submits a completed form, in which the member certifies, under the penalty of perjury, that the member is unable to obtain the signature of the member's spouse because:</span></p><p dir="ltr" class="saaa72276812d4ae08aeaa5b6c7dc3b99StatuteNumber1"><span class="saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont">(1)    The member does not know where the member's spouse is and has made a good faith effort to locate the spouse; or</span></p><p dir="ltr" class="saaa72276812d4ae08aeaa5b6c7dc3b99StatuteNumber1"><span class="saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont">(2)    Exceptional circumstances make it inappropriate for the member to obtain the signature of the member's spouse.</span></p><p dir="ltr" class="saaa72276812d4ae08aeaa5b6c7dc3b99Statute"><span xml:space="preserve" class="saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont">If the member is unable to obtain the signature of the member's spouse for either reason, the member must elect the sixty percent joint and survivor benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1209" rel="noopener"><span class="saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont">3-12C-1209</span></a><span xml:space="preserve" class="saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont"> and provide documentation to support the assertion of subdivision (1) or (2) of this section.</span></p><p dir="ltr" class="saaa72276812d4ae08aeaa5b6c7dc3b99Normal"><span xml:space="preserve" class="saaa72276812d4ae08aeaa5b6c7dc3b99000000"> </span></p><p dir="ltr" class="saaa72276812d4ae08aeaa5b6c7dc3b99NoIndent"><span xml:space="preserve" class="saaa72276812d4ae08aeaa5b6c7dc3b99DefaultParagraphFont-000001">Source: </span><span class="saaa72276812d4ae08aeaa5b6c7dc3b99SCL">SL 2016, ch 32, § 11; SDCL § 3-12-510; SL 2019, ch 22, § 1; SL 2021, ch 27, § 4; SL 2024, ch 22, § 3; SL 2026, ch 24, § 2.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033414Normal { 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.s2033414SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033414CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033414Normal-000000 { 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.s2033414DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033414Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033414Normal-000002 { text-indent: 0.25in; 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.s2033414000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033414SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033414SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033414Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1209"><span class="s2033414SENU">3-12C-1209</span></a><span xml:space="preserve" class="s2033414SENU">. </span><span class="s2033414CL">Monthly benefit options for generational members.</span></p><p dir="ltr" class="s2033414Normal-000000"><span class="s2033414DefaultParagraphFont">Any generational member applying for a retirement benefit shall elect one of the following monthly benefit options:</span></p><p dir="ltr" class="s2033414Normal-000001"><span class="s2033414DefaultParagraphFont">(1)    A single life benefit that provides a monthly benefit to the member for as long as the member lives and ceases upon the death of the member;</span></p><p dir="ltr" class="s2033414Normal-000001"><span class="s2033414DefaultParagraphFont">(2)    A sixty percent joint and survivor benefit that provides a reduced lifetime monthly benefit to the member, and upon the member's death sixty percent of the reduced benefit continues to the surviving spouse until the death of the surviving spouse; or</span></p><p dir="ltr" class="s2033414Normal-000001"><span class="s2033414DefaultParagraphFont">(3)    A one hundred percent joint and survivor benefit that provides a reduced lifetime monthly benefit to the member, and upon the member's death one hundred percent of the reduced benefit continues to the surviving spouse until the death of the surviving spouse.</span></p><p dir="ltr" class="s2033414Normal-000002"><span class="s2033414DefaultParagraphFont">The benefits payable to the member and the surviving spouse pursuant to a joint and survivor benefit are based on the ages of the member and the spouse and are the actuarial equivalent of a single life benefit. The monthly benefit of a member electing the joint and survivor benefit is reduced in order to provide for a continuing benefit for the surviving spouse after the member's death. The last payment of the member's benefit is for the month in which the member's death occurs, and any surviving spouse benefit is effective from the first day of the month following the member's death. The benefits payable pursuant to this section shall be paid in accordance with § 401(a)(9) of the Internal Revenue Code.</span></p><p dir="ltr" class="s2033414Normal"><span xml:space="preserve" class="s2033414000003"> </span></p><p dir="ltr" class="s2033414Normal"><span class="s2033414SCL">Source:</span><span xml:space="preserve" class="s2033414SCL-000004"> SL 2016, ch 32, § 9; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-508"><span class="s2033414SCL-000004">3-12-508</span></a><span class="s2033414SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033415Normal { 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.s2033415SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033415CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033415Normal-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.s2033415DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033415000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033415SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033415SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033415Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1210"><span class="s2033415SENU">3-12C-1210</span></a><span xml:space="preserve" class="s2033415SENU">. </span><span class="s2033415CL">Irrevocable benefit election by generational members.</span></p><p dir="ltr" class="s2033415Normal-000000"><span class="s2033415DefaultParagraphFont">If more than one monthly retirement benefit payment has been made to the generational member, the benefit election made by a member is irrevocable and surviving spouse benefits, if elected, may only be paid to the person who is the spouse both at the time of the election and at the time of the member's death and only if the spouse survives the member. The benefit election may not be rescinded in the event of a subsequent divorce or the subsequent death of the spouse.</span></p><p dir="ltr" class="s2033415Normal"><span xml:space="preserve" class="s2033415000001"> </span></p><p dir="ltr" class="s2033415Normal"><span class="s2033415SCL">Source:</span><span xml:space="preserve" class="s2033415SCL-000002"> SL 2016, ch 32, § 10; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-509"><span class="s2033415SCL-000002">3-12-509</span></a><span class="s2033415SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033416Normal { 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.s2033416SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033416CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033416Normal-000000 { 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.s2033416DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033416Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033416Normal-000002 { text-indent: 0.25in; 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.s2033416000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033416SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033416SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033416Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1211"><span class="s2033416SENU">3-12C-1211</span></a><span xml:space="preserve" class="s2033416SENU">. </span><span class="s2033416CL">Effective date of retirement benefit of generational member--Last payment.</span></p><p dir="ltr" class="s2033416Normal-000000"><span class="s2033416DefaultParagraphFont">Unless a generational member's required beginning date for retirement occurs first, the retirement benefit of a generational member is effective in accordance with whichever of the following is last:</span></p><p dir="ltr" class="s2033416Normal-000001"><span class="s2033416DefaultParagraphFont">(1)    The first day of the month following the date on which the member's contributory service terminated;</span></p><p dir="ltr" class="s2033416Normal-000001"><span class="s2033416DefaultParagraphFont">(2)    The first day of the month following an intervening complete calendar month after the date on which the member's written application for retirement benefits is received by the system; or</span></p><p dir="ltr" class="s2033416Normal-000001"><span class="s2033416DefaultParagraphFont">(3)    The first day of the month specified in the member's application for retirement.</span></p><p dir="ltr" class="s2033416Normal-000002"><span class="s2033416DefaultParagraphFont">The last payment of the member's benefit is for the month in which the member's death occurs.</span></p><p dir="ltr" class="s2033416Normal"><span xml:space="preserve" class="s2033416000003"> </span></p><p dir="ltr" class="s2033416Normal"><span class="s2033416SCL">Source:</span><span xml:space="preserve" class="s2033416SCL-000004"> SL 2016, ch 32, § 12; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-511"><span class="s2033416SCL-000004">3-12-511</span></a><span class="s2033416SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033417Normal { 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.s2033417SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033417CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033417Normal-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.s2033417DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033417000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033417SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033417SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033417Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1212"><span class="s2033417SENU">3-12C-1212</span></a><span xml:space="preserve" class="s2033417SENU">. </span><span class="s2033417CL">Retroactive retirement benefits for generational members.</span></p><p dir="ltr" class="s2033417Normal-000000"><span class="s2033417DefaultParagraphFont">Any generational member who fails to make a timely application for retirement benefits may receive three months of benefits retroactive from the effective date of the member's retirement benefit. However, no member may receive any retroactive benefits for any period of time before the first day of the month following the date the member's contributory service terminated.</span></p><p dir="ltr" class="s2033417Normal"><span xml:space="preserve" class="s2033417000001"> </span></p><p dir="ltr" class="s2033417Normal"><span class="s2033417SCL">Source:</span><span xml:space="preserve" class="s2033417SCL-000002"> SL 2016, ch 32, § 13; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-512"><span class="s2033417SCL-000002">3-12-512</span></a><span class="s2033417SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080020Normal { 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.s2080020SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080020CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2080020Statute { 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.s2080020DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080020000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080020DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080020SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2080020Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1213"><span class="s2080020SENU">3-12C-1213</span></a><span xml:space="preserve" class="s2080020SENU">. </span><span class="s2080020CL">Surviving spouse benefit--Retired generational member--Amount of benefit.</span></p><p dir="ltr" class="s2080020Statute"><span class="s2080020DefaultParagraphFont">Upon the death of a generational member retiree who elected either a sixty percent or one hundred percent joint and survivor benefit, the surviving spouse is eligible to receive a surviving spouse benefit. The amount of the surviving spouse benefit is based on the election made upon the retirement of the member and is payable on a monthly basis to the surviving spouse for the life of the spouse. The surviving spouse benefit is effective the first day of the month following the death of the member and is payable upon the receipt of a completed application.</span></p><p dir="ltr" class="s2080020Normal"><span xml:space="preserve" class="s2080020000000"> </span></p><p dir="ltr" class="s2080020Normal"><span xml:space="preserve" class="s2080020DefaultParagraphFont-000001">Source: </span><span class="s2080020SCL">SL 2016, ch 32, § 16; SDCL § 3-12-514; SL 2019, ch 22, § 1; SL 2020, ch 15, § 5.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2080021Normal { 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.s2080021SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080021CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2080021Statute { 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.s2080021DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080021000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2080021DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2080021SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2080021Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1214"><span class="s2080021SENU">3-12C-1214</span></a><span xml:space="preserve" class="s2080021SENU">. </span><span class="s2080021CL">Surviving spouse benefit--Generational member dying after normal retirement age but before start of benefit--Amount of benefit.</span></p><p dir="ltr" class="s2080021Statute"><span class="s2080021DefaultParagraphFont">Upon the death of a generational member who was vested or died while performing usual duties for the employer and who has reached normal retirement age but has not yet begun a retirement benefit, a surviving spouse is eligible to receive a surviving spouse benefit. The surviving spouse benefit is equal to sixty percent of the actuarially reduced amount the member would have received if the member retired on the date of death and elected the sixty percent joint and survivor benefit. The annual benefit shall be divided into monthly payments and is payable for the life of the surviving spouse. The surviving spouse benefit is effective the first day of the month following the date on which the member's contributory services terminates and is payable upon receipt of a completed application.</span></p><p dir="ltr" class="s2080021Normal"><span xml:space="preserve" class="s2080021000000"> </span></p><p dir="ltr" class="s2080021Normal"><span xml:space="preserve" class="s2080021DefaultParagraphFont-000001">Source: </span><span class="s2080021SCL">SL 2016, ch 32, § 17; SDCL § 3-12-515; SL 2019, ch 22, § 1; SL 2020, ch 15, § 6.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033420Normal { 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.s2033420SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033420CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033420Normal-000000 { 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.s2033420DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033420Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033420Normal-000002 { margin-left: 1.14in; text-indent: -0.44in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033420Normal-000003 { text-indent: 0.25in; 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.s2033420000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033420SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033420SCL-000005 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033420Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1215"><span class="s2033420SENU">3-12C-1215</span></a><span xml:space="preserve" class="s2033420SENU">. </span><span class="s2033420CL">Amount of surviving spouse benefit for generational member.</span></p><p dir="ltr" class="s2033420Normal-000000"><span xml:space="preserve" class="s2033420DefaultParagraphFont">If no family benefit is being paid pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-907"><span class="s2033420DefaultParagraphFont">3-12C-907</span></a><span class="s2033420DefaultParagraphFont">, a surviving spouse of a contributing generational member who had acquired at least three years of contributory service or noncontributory service or died while performing usual duties for the employer is, upon attaining the age sixty-seven, eligible to receive a surviving spouse benefit as follows:</span></p><p dir="ltr" class="s2033420Normal-000001"><span class="s2033420DefaultParagraphFont">(1)    If a family benefit had been paid, sixty percent of the family benefit paid at the time the family benefit ended, increased by the COLA from the date the last family benefit was paid; or</span></p><p dir="ltr" class="s2033420Normal-000001"><span class="s2033420DefaultParagraphFont">(2)    If a family benefit had not been paid, sixty percent of the amount calculated pursuant to subsection (a) or (b), whichever is greater, increased by the COLA from the date of the member's death:</span></p><p dir="ltr" class="s2033420Normal-000002"><span class="s2033420DefaultParagraphFont">(a)    Twenty-five percent of the member's final average compensation at the time of the member's death; or</span></p><p dir="ltr" class="s2033420Normal-000002"><span class="s2033420DefaultParagraphFont">(b)    The member's unreduced accrued retirement benefit at the time of the member's death.</span></p><p dir="ltr" class="s2033420Normal-000003"><span class="s2033420DefaultParagraphFont">The surviving spouse benefit shall be paid in monthly installments for the life of the surviving spouse.</span></p><p dir="ltr" class="s2033420Normal"><span xml:space="preserve" class="s2033420000004"> </span></p><p dir="ltr" class="s2033420Normal"><span class="s2033420SCL">Source:</span><span xml:space="preserve" class="s2033420SCL-000005"> SL 2016, ch 32, § 18; SL 2017, ch 27, § 36; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-516"><span class="s2033420SCL-000005">3-12-516</span></a><span class="s2033420SCL-000005">; SL 2019, ch 22, §§ 38, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033421Normal { 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.s2033421SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033421CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033421Normal-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.s2033421DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033421000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033421SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033421SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033421Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1216"><span class="s2033421SENU">3-12C-1216</span></a><span xml:space="preserve" class="s2033421SENU">. </span><span class="s2033421CL">Early surviving spouse benefit for generational member's spouse.</span></p><p dir="ltr" class="s2033421Normal-000000"><span class="s2033421DefaultParagraphFont">A generational member's spouse who is eligible to receive a surviving spouse benefit at age sixty-seven may elect to start the benefit in the ten years preceding the spouse attaining the age of sixty-seven. The early surviving spouse benefit, payable for the life of the surviving spouse, is the surviving spouse benefit reduced by five percent for each full year and prorated for each additional full month between the date the early surviving spouse benefit commences and the date the surviving spouse attains the age of sixty-seven.</span></p><p dir="ltr" class="s2033421Normal"><span xml:space="preserve" class="s2033421000001"> </span></p><p dir="ltr" class="s2033421Normal"><span class="s2033421SCL">Source:</span><span xml:space="preserve" class="s2033421SCL-000002"> SL 2016, ch 32, § 19; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-517"><span class="s2033421SCL-000002">3-12-517</span></a><span class="s2033421SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s8e9236bcc8564fdd897f9fb12e8e9ad3Normal { 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.s8e9236bcc8564fdd897f9fb12e8e9ad3SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8e9236bcc8564fdd897f9fb12e8e9ad3CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s8e9236bcc8564fdd897f9fb12e8e9ad3Statute { 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.s8e9236bcc8564fdd897f9fb12e8e9ad3DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s8e9236bcc8564fdd897f9fb12e8e9ad3000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s8e9236bcc8564fdd897f9fb12e8e9ad3NoIndent { 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.s8e9236bcc8564fdd897f9fb12e8e9ad3DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8e9236bcc8564fdd897f9fb12e8e9ad3SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1301 - Variable retirement accounts of generational members--Contributions and credited investment return."><meta property="og:description" content="SDLRC Codified Law 3-12C-1301 - Variable retirement accounts of generational members--Contributions and credited investment return."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1301"><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="s8e9236bcc8564fdd897f9fb12e8e9ad3Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1301" rel="noopener"><span class="s8e9236bcc8564fdd897f9fb12e8e9ad3SENU">3-12C-1301</span></a><span xml:space="preserve" class="s8e9236bcc8564fdd897f9fb12e8e9ad3SENU">. </span><span class="s8e9236bcc8564fdd897f9fb12e8e9ad3CL">Variable retirement accounts of generational members--Contributions and credited investment return.</span></p><p dir="ltr" class="s8e9236bcc8564fdd897f9fb12e8e9ad3Statute"><span class="s8e9236bcc8564fdd897f9fb12e8e9ad3DefaultParagraphFont">Each generational member shall have a variable retirement account, which consists of variable retirement contributions and the credited investment return. The investment return shall be credited annually as of June thirtieth for all generational members with a variable retirement account on that date. The credited investment return is the South Dakota Investment Council's reported money-weighted investment return of the system, net of fees, for the completed fiscal year. In the case of a distribution during the fiscal year, the credited investment return is the estimated investment return to the end of the month before payment. Any variable retirement contributions made during the fiscal year shall receive one-half year's credited investment return.</span></p><p dir="ltr" class="s8e9236bcc8564fdd897f9fb12e8e9ad3Normal"><span xml:space="preserve" class="s8e9236bcc8564fdd897f9fb12e8e9ad3000000"> </span></p><p dir="ltr" class="s8e9236bcc8564fdd897f9fb12e8e9ad3NoIndent"><span xml:space="preserve" class="s8e9236bcc8564fdd897f9fb12e8e9ad3DefaultParagraphFont-000001">Source: </span><span class="s8e9236bcc8564fdd897f9fb12e8e9ad3SCL">SL 2016, ch 32, § 21; SDCL § 3-12-519; SL 2019, ch 22, § 1; SL 2022, ch 15, § 7.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033423Normal { 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.s2033423SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033423CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033423Normal-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.s2033423DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033423000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033423SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033423SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033423Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1302"><span class="s2033423SENU">3-12C-1302</span></a><span xml:space="preserve" class="s2033423SENU">. </span><span class="s2033423CL">Variable retirement contributions of generational members.</span></p><p dir="ltr" class="s2033423Normal-000000"><span class="s2033423DefaultParagraphFont">Each year the board shall establish the variable retirement contribution for the following fiscal year based on the results of the most current annual actuarial valuation. The variable retirement contribution for any year may be adjusted from zero to one and one-half percent of each contributing generational member's compensation and shall be allocated to each generational member's variable retirement account. The variable retirement contribution for the fiscal year beginning July 1, 2017, shall be one and one-half percent of each contributing member's compensation.</span></p><p dir="ltr" class="s2033423Normal"><span xml:space="preserve" class="s2033423000001"> </span></p><p dir="ltr" class="s2033423Normal"><span class="s2033423SCL">Source:</span><span xml:space="preserve" class="s2033423SCL-000002"> SL 2016, ch 32, § 22; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-520"><span class="s2033423SCL-000002">3-12-520</span></a><span class="s2033423SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.se360e6c493bc4b3783d7f3575c1000beNormal { 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.se360e6c493bc4b3783d7f3575c1000beSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se360e6c493bc4b3783d7f3575c1000beCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.se360e6c493bc4b3783d7f3575c1000beStatute { 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.se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.se360e6c493bc4b3783d7f3575c1000be000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se360e6c493bc4b3783d7f3575c1000beNoIndent { 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.se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se360e6c493bc4b3783d7f3575c1000beSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1303 - Distributions from generational member's variable retirement account."><meta property="og:description" content="SDLRC Codified Law 3-12C-1303 - Distributions from generational member's variable retirement account."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1303"><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="se360e6c493bc4b3783d7f3575c1000beNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1303" rel="noopener"><span class="se360e6c493bc4b3783d7f3575c1000beSENU">3-12C-1303</span></a><span xml:space="preserve" class="se360e6c493bc4b3783d7f3575c1000beSENU">. </span><span class="se360e6c493bc4b3783d7f3575c1000beCL">Distributions from generational member's variable retirement account.</span></p><p dir="ltr" class="se360e6c493bc4b3783d7f3575c1000beStatute"><span xml:space="preserve" class="se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont">The variable retirement account is payable to the generational member when the member commences a retirement benefit or a disability benefit. If a generational member dies before commencing a benefit, the variable retirement account is payable at the death of the member to the member's spouse who meets the requirements for an immediate or deferred surviving spouse benefit under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1214" rel="noopener"><span class="se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont">3-12C-1214</span></a><span xml:space="preserve" class="se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1215" rel="noopener"><span class="se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont">3-12C-1215</span></a><span class="se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont">. For the purpose of paying a distribution, the variable retirement account is the amount in the member's variable retirement account or the total of the variable retirement contributions made on behalf of the member, whichever is greater.</span></p><p dir="ltr" class="se360e6c493bc4b3783d7f3575c1000beStatute"><span class="se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont">The variable retirement account may be paid in a lump sum, rolled over to the South Dakota deferred compensation plan, rolled over to another eligible plan, or used to purchase a supplemental pension benefit.</span></p><p dir="ltr" class="se360e6c493bc4b3783d7f3575c1000beStatute"><span class="se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont">The variable retirement account is not payable to any member who withdraws his or her accumulated contributions from the system.</span></p><p dir="ltr" class="se360e6c493bc4b3783d7f3575c1000beNormal"><span xml:space="preserve" class="se360e6c493bc4b3783d7f3575c1000be000000"> </span></p><p dir="ltr" class="se360e6c493bc4b3783d7f3575c1000beNoIndent"><span xml:space="preserve" class="se360e6c493bc4b3783d7f3575c1000beDefaultParagraphFont-000001">Source: </span><span class="se360e6c493bc4b3783d7f3575c1000beSCL">SL 2016, ch 32, § 23; SDCL § 3-12-521; SL 2019, ch 22, § 1; SL 2022, ch 15, § 8; SL 2023, ch 14, § 6.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083191Normal { 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.s2083191SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083191CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083191Statute { 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.s2083191DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083191000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083191NoIndent { 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.s2083191DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083191SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083191Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1400"><span class="s2083191SENU">3-12C-1400</span></a><span xml:space="preserve" class="s2083191SENU">. </span><span xml:space="preserve" class="s2083191CL">Three consecutive calendar months of separation described. </span></p><p dir="ltr" class="s2083191Statute"><span xml:space="preserve" class="s2083191DefaultParagraphFont">For purposes of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1401"><span class="s2083191DefaultParagraphFont">3-12C-1401</span></a><span xml:space="preserve" class="s2083191DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1406"><span class="s2083191DefaultParagraphFont">3-12C-1406</span></a><span class="s2083191DefaultParagraphFont">, inclusive, in order to have three consecutive calendar months of separation that start with the member's effective date of retirement, the member may have no employment or any relationship with a participating unit regardless of classification as part-time, seasonal, temporary, leased, contract, or any other designation, during that time.</span></p><p dir="ltr" class="s2083191Normal"><span xml:space="preserve" class="s2083191000000"> </span></p><p dir="ltr" class="s2083191NoIndent"><span xml:space="preserve" class="s2083191DefaultParagraphFont-000001">Source: </span><span class="s2083191SCL">SL 2021, ch 29, § 1, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083192Normal { 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.s2083192SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083192CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083192Statute { 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.s2083192DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083192000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083192NoIndent { 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.s2083192DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083192SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083192Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1401"><span class="s2083192SENU">3-12C-1401</span></a><span xml:space="preserve" class="s2083192SENU">. </span><span xml:space="preserve" class="s2083192CL">Reemployment of retired member--Separation of service required--Hiring procedures. </span></p><p dir="ltr" class="s2083192Statute"><span xml:space="preserve" class="s2083192DefaultParagraphFont">Except as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1401.1"><span class="s2083192DefaultParagraphFont">3-12C-1401.1</span></a><span class="s2083192DefaultParagraphFont">, a retired member's retirement is invalid if the member is reemployed by a participating unit unless the member's employment relationship with the initial participating unit has been terminated, as defined in this chapter and as required pursuant to Revenue Ruling 57-115 by the Internal Revenue Service, and the member has been separated from service for three consecutive calendar months after the member's effective date of retirement. The initial participating unit's system representative shall certify to the system that the termination of the employment relationship took place. In addition, any second participating unit shall subject the member to all proceedings and requirements associated with the hiring and employment of any new employee by the second participating unit, and that unit's system representative shall so certify to the system. If a single participating unit is both the member's initial participating unit and the member's second participating unit, the unit shall follow all termination procedures and all hiring procedures relative to the member as outlined by this section, and its chief executive officer, the officer's agent, or the chair of the unit's governing commission or board shall so certify.</span></p><p dir="ltr" class="s2083192Normal"><span xml:space="preserve" class="s2083192000000"> </span></p><p dir="ltr" class="s2083192NoIndent"><span xml:space="preserve" class="s2083192DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083192SCL">SL 2004, ch 38, § 6; SL 2010, ch 23, § 8, eff. Apr. 1, 2010; SL 2016, ch 31, § 14; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-81.1"><span class="s2083192SCL">3-12-81.1</span></a><span class="s2083192SCL">; SL 2019, ch 22, § 1; SL 2021, ch 29, § 2, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083193Normal { 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.s2083193SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083193CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083193Statute { 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.s2083193DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083193000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083193NoIndent { 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.s2083193DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083193SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083193Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1401.1"><span class="s2083193SENU">3-12C-1401.1</span></a><span xml:space="preserve" class="s2083193SENU">. </span><span xml:space="preserve" class="s2083193CL">Reemployment of retired member--Limited exception to separation of service requirement. </span></p><p dir="ltr" class="s2083193Statute"><span xml:space="preserve" class="s2083193DefaultParagraphFont">The provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1401"><span class="s2083193DefaultParagraphFont">3-12C-1401</span></a><span xml:space="preserve" class="s2083193DefaultParagraphFont"> do not apply if the retired member is at least fifty-nine and a half years of age when the member begins receiving retirement benefits and is employed for less than twelve hundred fifty hours during the fiscal year of the participating unit. However, if the retired member completes twelve hundred fifty hours or more during a fiscal year of the participating unit, the member's benefits shall be suspended. The suspension ceases if the member terminates employment. If the member is subsequently reemployed, the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1401"><span class="s2083193DefaultParagraphFont">3-12C-1401</span></a><span xml:space="preserve" class="s2083193DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1405"><span class="s2083193DefaultParagraphFont">3-12C-1405</span></a><span xml:space="preserve" class="s2083193DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1406"><span class="s2083193DefaultParagraphFont">3-12C-1406</span></a><span xml:space="preserve" class="s2083193DefaultParagraphFont"> apply, where applicable.</span></p><p dir="ltr" class="s2083193Normal"><span xml:space="preserve" class="s2083193000000"> </span></p><p dir="ltr" class="s2083193NoIndent"><span xml:space="preserve" class="s2083193DefaultParagraphFont-000001">Source: </span><span class="s2083193SCL">SL 2021, ch 29, § 3, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s4b18ba211cfc483688893af565d7a4ecNormal { 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.s4b18ba211cfc483688893af565d7a4ecSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4b18ba211cfc483688893af565d7a4ecCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s4b18ba211cfc483688893af565d7a4ecStatute { 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.s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4b18ba211cfc483688893af565d7a4ecStatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s4b18ba211cfc483688893af565d7a4ec000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4b18ba211cfc483688893af565d7a4ecNoIndent { 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.s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4b18ba211cfc483688893af565d7a4ecSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1401.2 - Certification when retired member becomes reemployed--Perjury."><meta property="og:description" content="SDLRC Codified Law 3-12C-1401.2 - Certification when retired member becomes reemployed--Perjury."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1401.2"><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="s4b18ba211cfc483688893af565d7a4ecNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1401.2" rel="noopener"><span class="s4b18ba211cfc483688893af565d7a4ecSENU">3-12C-1401.2</span></a><span xml:space="preserve" class="s4b18ba211cfc483688893af565d7a4ecSENU">. </span><span class="s4b18ba211cfc483688893af565d7a4ecCL">Certification when retired member becomes reemployed--Perjury.</span></p><p dir="ltr" class="s4b18ba211cfc483688893af565d7a4ecStatute"><span class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">If a retired member becomes reemployed by the same employer unit the member retired from within one year after the member's retirement, the system may require both the member and the employer unit to certify that:</span></p><p dir="ltr" class="s4b18ba211cfc483688893af565d7a4ecStatuteNumber1"><span xml:space="preserve" class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">(1)    The member's termination was a complete severance of employment and the member has been separated from service for at least three consecutive calendar months prior to reemployment, as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1401" rel="noopener"><span class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">3-12C-1401</span></a><span class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">;</span></p><p dir="ltr" class="s4b18ba211cfc483688893af565d7a4ecStatuteNumber1"><span class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">(2)    All standard hiring and employment procedures of the employer unit were followed in the reemployment process; and</span></p><p dir="ltr" class="s4b18ba211cfc483688893af565d7a4ecStatuteNumber1"><span class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">(3)    No prior agreement to reemploy the member, either overt or covert, existed between the member and the employer unit or any officer of the employer unit.</span></p><p dir="ltr" class="s4b18ba211cfc483688893af565d7a4ecStatute"><span xml:space="preserve" class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">An employer unit's chief executive officer, the officer's agent, or the chair of the employer's governing commission or board shall provide the certification on behalf of the employer unit. The system must provide forms for the member's and the employer unit's certifications. An intentionally false certification is perjury, as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=22-29-9.1" rel="noopener"><span class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">22-29-9.1</span></a><span class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont">.</span></p><p dir="ltr" class="s4b18ba211cfc483688893af565d7a4ecNormal"><span xml:space="preserve" class="s4b18ba211cfc483688893af565d7a4ec000000"> </span></p><p dir="ltr" class="s4b18ba211cfc483688893af565d7a4ecNoIndent"><span xml:space="preserve" class="s4b18ba211cfc483688893af565d7a4ecDefaultParagraphFont-000001">Source: </span><span class="s4b18ba211cfc483688893af565d7a4ecSCL">SL 2025, ch 27, § 52.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s87046c68114a42a29433d88ef7caa96eNormal { 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.s87046c68114a42a29433d88ef7caa96eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s87046c68114a42a29433d88ef7caa96eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s87046c68114a42a29433d88ef7caa96eStatute { 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.s87046c68114a42a29433d88ef7caa96eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s87046c68114a42a29433d88ef7caa96e000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s87046c68114a42a29433d88ef7caa96eNoIndent { 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.s87046c68114a42a29433d88ef7caa96eDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s87046c68114a42a29433d88ef7caa96eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1402 - Reduction of retirement benefit during reemployment before July 1, 2004--Recalculation of additional benefit."><meta property="og:description" content="SDLRC Codified Law 3-12C-1402 - Reduction of retirement benefit during reemployment before July 1, 2004--Recalculation of additional benefit."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1402"><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="s87046c68114a42a29433d88ef7caa96eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1402" rel="noopener"><span class="s87046c68114a42a29433d88ef7caa96eSENU">3-12C-1402</span></a><span xml:space="preserve" class="s87046c68114a42a29433d88ef7caa96eSENU">. </span><span class="s87046c68114a42a29433d88ef7caa96eCL">Reduction of retirement benefit during reemployment before July 1, 2004--Recalculation of additional benefit.</span></p><p dir="ltr" class="s87046c68114a42a29433d88ef7caa96eStatute"><span xml:space="preserve" class="s87046c68114a42a29433d88ef7caa96eDefaultParagraphFont">If a retired member whose benefits have been reduced pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1111" rel="noopener"><span class="s87046c68114a42a29433d88ef7caa96eDefaultParagraphFont">3-12C-1111</span></a><span xml:space="preserve" class="s87046c68114a42a29433d88ef7caa96eDefaultParagraphFont"> becomes employed as a permanent full-time employee by a participating unit before July 1, 2004, the member's monthly retirement benefit shall be reduced by fifteen percent and the COLA shall be eliminated throughout the period that the member reenters covered employment. If the member remains in such reemployment for at least three years pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1403" rel="noopener"><span class="s87046c68114a42a29433d88ef7caa96eDefaultParagraphFont">3-12C-1403</span></a><span xml:space="preserve" class="s87046c68114a42a29433d88ef7caa96eDefaultParagraphFont"> and then again retires, the member's additional benefit shall be recalculated to consider only the member's credited service and final compensation earned during reentry.</span></p><p dir="ltr" class="s87046c68114a42a29433d88ef7caa96eNormal"><span xml:space="preserve" class="s87046c68114a42a29433d88ef7caa96e000000"> </span></p><p dir="ltr" class="s87046c68114a42a29433d88ef7caa96eNoIndent"><span xml:space="preserve" class="s87046c68114a42a29433d88ef7caa96eDefaultParagraphFont-000001">Source: </span><span class="s87046c68114a42a29433d88ef7caa96eSCL">SL 1970, ch 25, § 13; SDCL Supp, § 3-12-29.3; SL 1974, ch 35, § 65; SL 1982, ch 32, § 8; SL 1986, ch 37, § 10; SL 1997, ch 28, § 2; SL 2004, ch 38, § 3; SL 2017, ch 27, § 20; SDCL § 3-12-111; SL 2019, ch 22, § 1; SL 2021, ch 26, § 4; SL 2022, ch 15, § 9.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s390cca0ef8cb4dbc805f1fa5aaabea14Normal { 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.s390cca0ef8cb4dbc805f1fa5aaabea14SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s390cca0ef8cb4dbc805f1fa5aaabea14CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s390cca0ef8cb4dbc805f1fa5aaabea14Statute { 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.s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s390cca0ef8cb4dbc805f1fa5aaabea14000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s390cca0ef8cb4dbc805f1fa5aaabea14NoIndent { 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.s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s390cca0ef8cb4dbc805f1fa5aaabea14SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1403 - Retirement benefits--Members who reentered covered employment after June 30, 2004 and before April 1, 2010."><meta property="og:description" content="SDLRC Codified Law 3-12C-1403 - Retirement benefits--Members who reentered covered employment after June 30, 2004 and before April 1, 2010."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1403"><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="s390cca0ef8cb4dbc805f1fa5aaabea14Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1403" rel="noopener"><span class="s390cca0ef8cb4dbc805f1fa5aaabea14SENU">3-12C-1403</span></a><span xml:space="preserve" class="s390cca0ef8cb4dbc805f1fa5aaabea14SENU">. </span><span class="s390cca0ef8cb4dbc805f1fa5aaabea14CL">Retirement benefits--Members who reentered covered employment after June 30, 2004 and before April 1, 2010.</span></p><p dir="ltr" class="s390cca0ef8cb4dbc805f1fa5aaabea14Statute"><span class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">If less than three years of contributory service or noncontributory service is acquired after a retired member's reentry into covered employment, the member upon subsequent retirement must receive a refund of the member's accumulated contributions.</span></p><p dir="ltr" class="s390cca0ef8cb4dbc805f1fa5aaabea14Statute"><span xml:space="preserve" class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">If three years or more of contributory service or noncontributory service is acquired after a retired member's reentry into covered employment, the member upon subsequent retirement may receive either a refund of the member's accumulated contributions or an additional benefit based upon the member's credited service and final compensation earned during the reentry. Only the member's credited service from the subsequent employment must be taken into account in calculating a reduction pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1111" rel="noopener"><span class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">3-12C-1111</span></a><span xml:space="preserve" class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">, if any, in the member's additional benefit. The COLA applied to the original benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-703" rel="noopener"><span class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">3-12C-703</span></a><span class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">, must be eliminated for the period of reemployment, unless the member retired as a Class B public safety member and subsequently reentered covered employment as a Class A member.</span></p><p dir="ltr" class="s390cca0ef8cb4dbc805f1fa5aaabea14Statute"><span xml:space="preserve" class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">The provisions of this section apply to any member who retired without any reduction in benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1111" rel="noopener"><span class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">3-12C-1111</span></a><span class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont">, and who reenters covered employment after June 30, 2004, but before April 1, 2010.</span></p><p dir="ltr" class="s390cca0ef8cb4dbc805f1fa5aaabea14Normal"><span xml:space="preserve" class="s390cca0ef8cb4dbc805f1fa5aaabea14000000"> </span></p><p dir="ltr" class="s390cca0ef8cb4dbc805f1fa5aaabea14NoIndent"><span xml:space="preserve" class="s390cca0ef8cb4dbc805f1fa5aaabea14DefaultParagraphFont-000001">Source: </span><span class="s390cca0ef8cb4dbc805f1fa5aaabea14SCL">SL 1974, ch 35, § 39; SL 1978, ch 32, § 3; SL 1982, ch 32, § 5; SL 1997, ch 28, § 1; SL 1998, ch 15, § 10; SL 2004, ch 38, § 1; SL 2005, ch 24, § 3; SL 2010, ch 20, § 10; SL 2010, ch 23, § 6, eff. Apr. 1, 2010; SL 2012, ch 26, § 11; SL 2016, ch 31, § 15; SL 2017, ch 27, § 11; SDCL § 3-12-82; SL 2019, ch 22, § 1; SL 2021, ch 26, § 5; SL 2025, ch 27, § 53.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s4e65dff52ce7442197feba50ace7d3dbNormal { 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.s4e65dff52ce7442197feba50ace7d3dbSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4e65dff52ce7442197feba50ace7d3dbCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s4e65dff52ce7442197feba50ace7d3dbStatute { 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.s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s4e65dff52ce7442197feba50ace7d3db000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s4e65dff52ce7442197feba50ace7d3dbNoIndent { 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.s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s4e65dff52ce7442197feba50ace7d3dbSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1404 - Reduction of retirement benefit during reemployment for members who reentered employment between July 1, 2004 and April 1, 2010--Benefit upon subsequent retirement."><meta property="og:description" content="SDLRC Codified Law 3-12C-1404 - Reduction of retirement benefit during reemployment for members who reentered employment between July 1, 2004 and April 1, 2010--Benefit upon subsequent retirement."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1404"><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="s4e65dff52ce7442197feba50ace7d3dbNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1404" rel="noopener"><span class="s4e65dff52ce7442197feba50ace7d3dbSENU">3-12C-1404</span></a><span xml:space="preserve" class="s4e65dff52ce7442197feba50ace7d3dbSENU">. </span><span class="s4e65dff52ce7442197feba50ace7d3dbCL">Reduction of retirement benefit during reemployment for members who reentered employment between July 1, 2004 and April 1, 2010--Benefit upon subsequent retirement.</span></p><p dir="ltr" class="s4e65dff52ce7442197feba50ace7d3dbStatute"><span xml:space="preserve" class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont">If a retired member whose benefits have been reduced pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1111" rel="noopener"><span class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont">3-12C-1111</span></a><span xml:space="preserve" class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont"> becomes employed as a permanent full-time employee by a participating unit on or after July 1, 2004, but before April 1, 2010, the member's monthly retirement benefit must be reduced by fifteen percent and the COLA must be eliminated throughout the period that the member reenters covered employment. If the member remains in reemployment for at least three years pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1403" rel="noopener"><span class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont">3-12C-1403</span></a><span xml:space="preserve" class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont">, the member upon subsequent retirement must receive an additional benefit based upon the member's credited service and final average compensation earned during the reentry. Only the member's credited service from the subsequent employment must be taken into account in calculating a reduction pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1111" rel="noopener"><span class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont">3-12C-1111</span></a><span xml:space="preserve" class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont">, if any, in the member's additional benefit. If the member remains in reemployment for a period of less than three years, the member upon subsequent retirement must receive a refund of the member's accumulated contributions. No matter the duration of the member's reemployment, the COLA applied to the original benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-703" rel="noopener"><span class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont"> must be eliminated for the period of reemployment.</span></p><p dir="ltr" class="s4e65dff52ce7442197feba50ace7d3dbNormal"><span xml:space="preserve" class="s4e65dff52ce7442197feba50ace7d3db000000"> </span></p><p dir="ltr" class="s4e65dff52ce7442197feba50ace7d3dbNoIndent"><span xml:space="preserve" class="s4e65dff52ce7442197feba50ace7d3dbDefaultParagraphFont-000001">Source: </span><span class="s4e65dff52ce7442197feba50ace7d3dbSCL">SL 2004, ch 38, § 4; SL 2010, ch 20, § 13; SL 2010, ch 23, § 7, eff. Apr. 1, 2010; SL 2017, ch 27, § 21; SDCL § 3-12-111.1; SL 2019, ch 22, § 1; SL 2021, ch 26, § 6; SL 2022, ch 15, § 10.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sb58b87e9264e4c3295e4d758db891399Normal { 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.sb58b87e9264e4c3295e4d758db891399SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb58b87e9264e4c3295e4d758db891399CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sb58b87e9264e4c3295e4d758db891399Statute { 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.sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sb58b87e9264e4c3295e4d758db891399000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sb58b87e9264e4c3295e4d758db891399NoIndent { 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.sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb58b87e9264e4c3295e4d758db891399SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1405 - Retired members--Reentrance to covered employment--Benefits and membership."><meta property="og:description" content="SDLRC Codified Law 3-12C-1405 - Retired members--Reentrance to covered employment--Benefits and membership."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1405"><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="sb58b87e9264e4c3295e4d758db891399Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1405" rel="noopener"><span class="sb58b87e9264e4c3295e4d758db891399SENU">3-12C-1405</span></a><span xml:space="preserve" class="sb58b87e9264e4c3295e4d758db891399SENU">. </span><span class="sb58b87e9264e4c3295e4d758db891399CL">Retired members--Reentrance to covered employment--Benefits and membership.</span></p><p dir="ltr" class="sb58b87e9264e4c3295e4d758db891399Statute"><span xml:space="preserve" class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont">Except as provided for in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1405.1" rel="noopener"><span class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont">3-12C-1405.1</span></a><span class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont">, if a retired member reenters covered employment at some time after the three consecutive calendar months that start with the member's effective date of retirement, the member's retirement benefits and continued membership must be administered pursuant to this section.</span></p><p dir="ltr" class="sb58b87e9264e4c3295e4d758db891399Statute"><span class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont">The member's monthly retirement benefit is reduced by fifteen percent and the COLA is eliminated throughout the period that the member reenters covered employment. The reduction and elimination must cease if the member again terminates covered employment. The reduction and elimination do not apply if the member retired as a Class B public safety member and subsequently reenters covered employment as a Class A member.</span></p><p dir="ltr" class="sb58b87e9264e4c3295e4d758db891399Statute"><span xml:space="preserve" class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont">The contributions required of the member must be deposited by the member's participating unit with the system for the benefit of the member to be transferred to an account within the deferred compensation program established pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=3-13" rel="noopener"><span class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont">3-13</span></a><span class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont">. The contributions are governed by § 457 of the Internal Revenue Code. The contributions required of the member's employer unit must be deposited into the fund created by this chapter, but with no association or credit to the member. The member may not earn any additional benefits associated with the period that the member reenters covered employment.</span></p><p dir="ltr" class="sb58b87e9264e4c3295e4d758db891399Statute"><span class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont">The provisions of this section do not apply to a Class D member who reenters covered employment.</span></p><p dir="ltr" class="sb58b87e9264e4c3295e4d758db891399Normal"><span xml:space="preserve" class="sb58b87e9264e4c3295e4d758db891399000000"> </span></p><p dir="ltr" class="sb58b87e9264e4c3295e4d758db891399NoIndent"><span xml:space="preserve" class="sb58b87e9264e4c3295e4d758db891399DefaultParagraphFont-000001">Source: </span><span class="sb58b87e9264e4c3295e4d758db891399SCL">SL 2010, ch 23, § 2, eff. Apr. 1, 2010; SL 2013, ch 20, § 16; SL 2016, ch 31, § 35; SDCL § 3-12-200; SL 2019, ch 22, §§ 41, 45; SL 2020, ch 13, § 6; SL 2021, ch 29, § 4, eff. Apr. 1, 2021; SL 2021, ch 26, § 7; SL 2025, ch 27, § 54.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083195Normal { 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.s2083195SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083195CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083195Normal-000000 { text-indent: 0.50in; text-align: left; 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.s2083195DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083195Statute { 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.s2083195000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083195NoIndent { 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.s2083195DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083195SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083195Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1405.1"><span class="s2083195SENU">3-12C-1405.1</span></a><span xml:space="preserve" class="s2083195SENU">. </span><span xml:space="preserve" class="s2083195CL">Reemployment of retired member--Limited exception to benefit and membership provisions for part-time employment. </span></p><p dir="ltr" class="s2083195Normal-000000"><span class="s2083195DefaultParagraphFont">.</span></p><p dir="ltr" class="s2083195Statute"><span xml:space="preserve" class="s2083195DefaultParagraphFont">The provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1405"><span class="s2083195DefaultParagraphFont">3-12C-1405</span></a><span xml:space="preserve" class="s2083195DefaultParagraphFont"> do not apply if the retired member is reemployed for less than twelve hundred fifty hours during the fiscal year of the participating unit. However, if the retired member completes twelve hundred fifty hours or more during a fiscal year of the participating unit, the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1405"><span class="s2083195DefaultParagraphFont">3-12C-1405</span></a><span xml:space="preserve" class="s2083195DefaultParagraphFont"> apply immediately.</span></p><p dir="ltr" class="s2083195Normal"><span xml:space="preserve" class="s2083195000001"> </span></p><p dir="ltr" class="s2083195NoIndent"><span xml:space="preserve" class="s2083195DefaultParagraphFont-000002">Source: </span><span class="s2083195SCL">SL 2021, ch 29, § 5, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083196Normal { 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.s2083196SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083196CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083196Statute { 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.s2083196DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083196000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083196NoIndent { 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.s2083196DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083196SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083196Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1405.2"><span class="s2083196SENU">3-12C-1405.2</span></a><span xml:space="preserve" class="s2083196SENU">. </span><span xml:space="preserve" class="s2083196CL">Reemployment of retired member--Employer tracking. </span></p><p dir="ltr" class="s2083196Statute"><span class="s2083196DefaultParagraphFont">Any participating unit employing a retired member for less than twelve hundred fifty hours during the fiscal year of the participating unit is responsible for tracking the hours of the employee and certifying the hours to the system on a monthly basis.</span></p><p dir="ltr" class="s2083196Normal"><span xml:space="preserve" class="s2083196000000"> </span></p><p dir="ltr" class="s2083196NoIndent"><span xml:space="preserve" class="s2083196DefaultParagraphFont-000001">Source: </span><span class="s2083196SCL">SL 2021, ch 29, § 6, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083197Normal { 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.s2083197SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083197CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083197Statute { 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.s2083197DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083197000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083197NoIndent { 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.s2083197DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083197SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083197Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1406"><span class="s2083197SENU">3-12C-1406</span></a><span xml:space="preserve" class="s2083197SENU">. </span><span xml:space="preserve" class="s2083197CL">Invalid retirement--Repayment of retirement benefit payments. </span></p><p dir="ltr" class="s2083197Statute"><span xml:space="preserve" class="s2083197DefaultParagraphFont">Except as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1401.1"><span class="s2083197DefaultParagraphFont">3-12C-1401.1</span></a><span class="s2083197DefaultParagraphFont">, if a retired member reenters employment within the three consecutive calendar months that start with the member's effective date of retirement, the member's retirement is deemed invalid. If the member received one or more retirement benefit payments during the invalid retirement, the member shall repay the payments as a lump sum immediately, repay the payments by contractual payments over a period of up to three years, which payments shall include interest at the assumed rate of return, or repay the payments by an actuarial equivalent reduction in eventual monthly benefits.</span></p><p dir="ltr" class="s2083197Normal"><span xml:space="preserve" class="s2083197000000"> </span></p><p dir="ltr" class="s2083197NoIndent"><span xml:space="preserve" class="s2083197DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083197SCL">SL 2010, ch 23, § 1, eff. Apr. 1, 2010; SL 2016, ch 31, § 34; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-199"><span class="s2083197SCL">3-12-199</span></a><span class="s2083197SCL">; SL 2019, ch 22, § 1; SL 2021, ch 29, § 7, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033431Normal { 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.s2033431SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033431CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033431Normal-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.s2033431DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033431000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033431SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033431SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033431Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1501"><span class="s2033431SENU">3-12C-1501</span></a><span xml:space="preserve" class="s2033431SENU">. </span><span class="s2033431CL">Supplemental pension benefit created.</span></p><p dir="ltr" class="s2033431Normal-000000"><span class="s2033431DefaultParagraphFont">There is hereby established the South Dakota Retirement System supplemental pension benefit. The supplemental pension benefit shall be within and integral to the South Dakota Retirement System. It is the intent of the Legislature that the provisions related to the supplemental pension benefit shall be qualified under § 401(a) of the Internal Revenue Code and that the provisions constitute one aspect of a governmental plan as identified under § 414(d) of that code.</span></p><p dir="ltr" class="s2033431Normal"><span xml:space="preserve" class="s2033431000001"> </span></p><p dir="ltr" class="s2033431Normal"><span class="s2033431SCL">Source:</span><span xml:space="preserve" class="s2033431SCL-000002"> SL 2008, ch 24, § 1; SL 2013, ch 20, § 13; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-189"><span class="s2033431SCL-000002">3-12-189</span></a><span class="s2033431SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033432Normal { 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.s2033432SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033432CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033432Normal-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.s2033432DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033432Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033432000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033432SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033432SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033432Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1502"><span class="s2033432SENU">3-12C-1502</span></a><span xml:space="preserve" class="s2033432SENU">. </span><span class="s2033432CL">Interest rate assumption--Suspension of new supplemental pension contracts--No right to particular price.</span></p><p dir="ltr" class="s2033432Normal-000000"><span class="s2033432DefaultParagraphFont">On an annual basis, at minimum, the board shall establish an interest rate assumption upon which the provisions of subsequent supplemental pension contracts shall be based. The board shall establish the assumption on the basis of the recommendations of the system's actuary and the state investment officer. The interest rate assumption may not be greater than the actuarial assumed rate of return for the fund, nor may the interest rate assumption be less than the effective rate of interest. Any other provision of law notwithstanding, the board may suspend issuance of new supplemental pension contracts at any time. Any suspension of new supplemental pension contracts shall be prospective in operation and may not affect supplemental pension contracts already in effect.</span></p><p dir="ltr" class="s2033432Normal-000001"><span class="s2033432DefaultParagraphFont">The administration of the supplemental pension benefit requires that supplemental pension benefit purchase costs vary from one time period to the next. Consequently, participants who accept the option of a supplemental pension benefit have no expectation or fundamental right to any particular supplemental pension benefit purchase price.</span></p><p dir="ltr" class="s2033432Normal"><span xml:space="preserve" class="s2033432000002"> </span></p><p dir="ltr" class="s2033432Normal"><span class="s2033432SCL">Source:</span><span xml:space="preserve" class="s2033432SCL-000003"> SL 2008, ch 24, § 3; SL 2016, ch 31, § 30; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-190"><span class="s2033432SCL-000003">3-12-190</span></a><span class="s2033432SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sad1662caca95493d8cb0b3bb7bc25ffcNormal { 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.sad1662caca95493d8cb0b3bb7bc25ffcSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sad1662caca95493d8cb0b3bb7bc25ffcCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sad1662caca95493d8cb0b3bb7bc25ffcStatute { 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.sad1662caca95493d8cb0b3bb7bc25ffcDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sad1662caca95493d8cb0b3bb7bc25ffc000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sad1662caca95493d8cb0b3bb7bc25ffcNoIndent { 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.sad1662caca95493d8cb0b3bb7bc25ffcDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sad1662caca95493d8cb0b3bb7bc25ffcSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1502.1 - Basis for supplemental pension benefit."><meta property="og:description" content="SDLRC Codified Law 3-12C-1502.1 - Basis for supplemental pension benefit."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1502.1"><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="sad1662caca95493d8cb0b3bb7bc25ffcNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1502.1" rel="noopener"><span class="sad1662caca95493d8cb0b3bb7bc25ffcSENU">3-12C-1502.1</span></a><span xml:space="preserve" class="sad1662caca95493d8cb0b3bb7bc25ffcSENU">. </span><span class="sad1662caca95493d8cb0b3bb7bc25ffcCL">Basis for supplemental pension benefit.</span></p><p dir="ltr" class="sad1662caca95493d8cb0b3bb7bc25ffcStatute"><span class="sad1662caca95493d8cb0b3bb7bc25ffcDefaultParagraphFont">A participant's monthly supplemental pension benefit is based on the participant's single premium and the current interest rate assumption at the time of purchase, and must take into account the participant's age, gender, and marital status at the time of purchase. A participant has no expectation or fundamental right to any particular monthly benefit amount, including the amount of a monthly benefit being paid to another participant.</span></p><p dir="ltr" class="sad1662caca95493d8cb0b3bb7bc25ffcNormal"><span xml:space="preserve" class="sad1662caca95493d8cb0b3bb7bc25ffc000000"> </span></p><p dir="ltr" class="sad1662caca95493d8cb0b3bb7bc25ffcNoIndent"><span xml:space="preserve" class="sad1662caca95493d8cb0b3bb7bc25ffcDefaultParagraphFont-000001">Source: </span><span class="sad1662caca95493d8cb0b3bb7bc25ffcSCL">SL 2025, ch 27, § 55.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s192f69052a46464dbbbf7e525f91a8baNormal { 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.s192f69052a46464dbbbf7e525f91a8baSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s192f69052a46464dbbbf7e525f91a8baCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s192f69052a46464dbbbf7e525f91a8baStatute { 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.s192f69052a46464dbbbf7e525f91a8baDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s192f69052a46464dbbbf7e525f91a8ba000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s192f69052a46464dbbbf7e525f91a8baNoIndent { 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.s192f69052a46464dbbbf7e525f91a8baDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s192f69052a46464dbbbf7e525f91a8baSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1503 - Rollover of funds--Single premium--Contract effective upon signing--Payment of benefits."><meta property="og:description" content="SDLRC Codified Law 3-12C-1503 - Rollover of funds--Single premium--Contract effective upon signing--Payment of benefits."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1503"><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="s192f69052a46464dbbbf7e525f91a8baNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1503" rel="noopener"><span class="s192f69052a46464dbbbf7e525f91a8baSENU">3-12C-1503</span></a><span xml:space="preserve" class="s192f69052a46464dbbbf7e525f91a8baSENU">. </span><span class="s192f69052a46464dbbbf7e525f91a8baCL">Rollover of funds--Single premium--Contract effective upon signing--Payment of benefits.</span></p><p dir="ltr" class="s192f69052a46464dbbbf7e525f91a8baStatute"><span xml:space="preserve" class="s192f69052a46464dbbbf7e525f91a8baDefaultParagraphFont">A 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 is a beneficiary of the funds subject to this section, may become a supplemental pension participant by direct rollover of pretax funds held by the member in a variable retirement account, in contribution credit, or in either or both of the plans created in chapters </span><a href="https://sdlegislature.gov/Statutes?Statute=3-13" rel="noopener"><span class="s192f69052a46464dbbbf7e525f91a8baDefaultParagraphFont">3-13</span></a><span xml:space="preserve" class="s192f69052a46464dbbbf7e525f91a8baDefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes?Statute=3-13" rel="noopener"><span class="s192f69052a46464dbbbf7e525f91a8baDefaultParagraphFont">3-13</span></a><span class="s192f69052a46464dbbbf7e525f91a8baDefaultParagraphFont">A into the fund. Any rollover must be in compliance with the provisions of § 401(a)(31) of the Internal Revenue Code and must be recorded in the participant's supplemental pension contract record. All of a participant's funds rolled into the fund must be expended in full as the single premium for a supplemental pension contract. No single premium may be less than ten thousand dollars. A supplemental pension contract goes into effect when a participant signs the supplemental pension contract. The initial monthly supplemental pension benefit is payable the first day of the first month after the contract goes into effect. Payment of any prior and current supplemental pension benefits must be made within two months after the contract is in effect.</span></p><p dir="ltr" class="s192f69052a46464dbbbf7e525f91a8baNormal"><span xml:space="preserve" class="s192f69052a46464dbbbf7e525f91a8ba000000"> </span></p><p dir="ltr" class="s192f69052a46464dbbbf7e525f91a8baNoIndent"><span xml:space="preserve" class="s192f69052a46464dbbbf7e525f91a8baDefaultParagraphFont-000001">Source: </span><span class="s192f69052a46464dbbbf7e525f91a8baSCL">SL 2008, ch 24, § 4; SL 2013, ch 20, § 14; SL 2016, ch 32, § 47; SL 2018, ch 33, § 15; SDCL § 3-12-191; SL 2019, ch 22, § 1; SL 2019, ch 23, § 8; SL 2022, ch 15, § 11.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083179Normal { 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.s2083179SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083179CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083179Statute { 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.s2083179DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083179StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2083179000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083179NoIndent { 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.s2083179DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083179SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1504 - Types of supplemental pension benefits."><meta property="og:description" content="SDLRC Codified Law 3-12C-1504 - Types of supplemental pension benefits."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1504"><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="s2083179Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1504" rel="noopener"><span class="s2083179SENU">3-12C-1504</span></a><span xml:space="preserve" class="s2083179SENU">. </span><span xml:space="preserve" class="s2083179CL">Types of supplemental pension benefits. </span></p><p dir="ltr" class="s2083179Statute"><span class="s2083179DefaultParagraphFont">A supplemental pension participant who is a retiree receiving a benefit from the system shall receive one of three types of supplemental pension benefits:</span></p><p dir="ltr" class="s2083179StatuteNumber1"><span class="s2083179DefaultParagraphFont">(1)    A supplemental pension benefit payable monthly for the lifetime of the participant;</span></p><p dir="ltr" class="s2083179StatuteNumber1"><span class="s2083179DefaultParagraphFont">(2)    A supplemental pension benefit payable monthly for the lifetime of the participant and, upon the death of the participant, a supplemental pension benefit payable monthly to the participant's supplemental pension spouse equal to sixty percent of the monthly benefit amount that the participant was receiving at the time of death; or</span></p><p dir="ltr" class="s2083179StatuteNumber1"><span class="s2083179DefaultParagraphFont">(3)    A supplemental pension benefit payable monthly for the lifetime of the participant and, upon the death of the participant, a supplemental pension benefit payable monthly to the participant's supplemental pension spouse equal to one hundred percent of the monthly benefit amount that the participant was receiving at the time of death.</span></p><p dir="ltr" class="s2083179Statute"><span class="s2083179DefaultParagraphFont">A participant who is a retiree receiving a benefit from the system may contract for any of the three types of supplemental pension benefits provided in this section. The contract shall be signed by the supplemental pension participant, and the participant shall provide a copy of the participant's current driver license or other picture identification card issued by a government agency or tribe. If the participant is married, the spouse shall sign the contract and provide a copy of the spouse's current driver license or other picture identification card issued by a government agency or tribe. A participant who is the member's surviving spouse may contract only for a supplemental pension benefit payable monthly for the lifetime of the surviving spouse.</span></p><p dir="ltr" class="s2083179Normal"><span xml:space="preserve" class="s2083179000000"> </span></p><p dir="ltr" class="s2083179NoIndent"><span xml:space="preserve" class="s2083179DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083179SCL">SL 2008, ch 24, § 5; SL 2016, ch 32, § 48; SL 2018, ch 33, § 16; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-192" rel="noopener"><span class="s2083179SCL">3-12-192</span></a><span class="s2083179SCL">; SL 2019, ch 22, § 1; SL 2021, ch 27, § 5.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sd5b3c9b8f9aa47dfb949c61756373bd8Normal { 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.sd5b3c9b8f9aa47dfb949c61756373bd8SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd5b3c9b8f9aa47dfb949c61756373bd8CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sd5b3c9b8f9aa47dfb949c61756373bd8Statute { 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.sd5b3c9b8f9aa47dfb949c61756373bd8DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sd5b3c9b8f9aa47dfb949c61756373bd8000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sd5b3c9b8f9aa47dfb949c61756373bd8NoIndent { 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.sd5b3c9b8f9aa47dfb949c61756373bd8DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sd5b3c9b8f9aa47dfb949c61756373bd8SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1504.1 - Payment of supplemental pension benefit."><meta property="og:description" content="SDLRC Codified Law 3-12C-1504.1 - Payment of supplemental pension benefit."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1504.1"><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="sd5b3c9b8f9aa47dfb949c61756373bd8Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1504.1" rel="noopener"><span class="sd5b3c9b8f9aa47dfb949c61756373bd8SENU">3-12C-1504.1</span></a><span xml:space="preserve" class="sd5b3c9b8f9aa47dfb949c61756373bd8SENU">. </span><span class="sd5b3c9b8f9aa47dfb949c61756373bd8CL">Payment of supplemental pension benefit.</span></p><p dir="ltr" class="sd5b3c9b8f9aa47dfb949c61756373bd8Statute"><span class="sd5b3c9b8f9aa47dfb949c61756373bd8DefaultParagraphFont">The system may pay the participant's monthly supplemental pension benefit and the participant's monthly retirement benefit in separate payments. Each payment is a separate benefit, including provision of a separate Internal Revenue Service Form 1099-R for each payment by the system.</span></p><p dir="ltr" class="sd5b3c9b8f9aa47dfb949c61756373bd8Normal"><span xml:space="preserve" class="sd5b3c9b8f9aa47dfb949c61756373bd8000000"> </span></p><p dir="ltr" class="sd5b3c9b8f9aa47dfb949c61756373bd8NoIndent"><span xml:space="preserve" class="sd5b3c9b8f9aa47dfb949c61756373bd8DefaultParagraphFont-000001">Source: </span><span class="sd5b3c9b8f9aa47dfb949c61756373bd8SCL">SL 2025, ch 27, § 56.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.se82514ce67b34116a4d2638db04cc53aNormal { 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.se82514ce67b34116a4d2638db04cc53aSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se82514ce67b34116a4d2638db04cc53aCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.se82514ce67b34116a4d2638db04cc53aStatute { 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.se82514ce67b34116a4d2638db04cc53aDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.se82514ce67b34116a4d2638db04cc53a000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.se82514ce67b34116a4d2638db04cc53aNoIndent { 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.se82514ce67b34116a4d2638db04cc53aDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.se82514ce67b34116a4d2638db04cc53aSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1504.2 - Proof of marital status."><meta property="og:description" content="SDLRC Codified Law 3-12C-1504.2 - Proof of marital status."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1504.2"><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="se82514ce67b34116a4d2638db04cc53aNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1504.2" rel="noopener"><span class="se82514ce67b34116a4d2638db04cc53aSENU">3-12C-1504.2</span></a><span xml:space="preserve" class="se82514ce67b34116a4d2638db04cc53aSENU">. </span><span class="se82514ce67b34116a4d2638db04cc53aCL">Proof of marital status.</span></p><p dir="ltr" class="se82514ce67b34116a4d2638db04cc53aStatute"><span class="se82514ce67b34116a4d2638db04cc53aDefaultParagraphFont">A participant who is married at the time that the participant contracts for a supplemental pension benefit shall provide a copy of the participant's marriage license to the system.</span></p><p dir="ltr" class="se82514ce67b34116a4d2638db04cc53aNormal"><span xml:space="preserve" class="se82514ce67b34116a4d2638db04cc53a000000"> </span></p><p dir="ltr" class="se82514ce67b34116a4d2638db04cc53aNoIndent"><span xml:space="preserve" class="se82514ce67b34116a4d2638db04cc53aDefaultParagraphFont-000001">Source: </span><span class="se82514ce67b34116a4d2638db04cc53aSCL">SL 2025, ch 27, § 57.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083189Normal { 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.s2083189SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083189CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083189Statute { 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.s2083189DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083189000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083189NoIndent { 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.s2083189DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083189SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1505 - COLA applicable to supplemental pension benefits."><meta property="og:description" content="SDLRC Codified Law 3-12C-1505 - COLA applicable to supplemental pension benefits."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1505"><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="s2083189Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1505" rel="noopener"><span class="s2083189SENU">3-12C-1505</span></a><span xml:space="preserve" class="s2083189SENU">. </span><span xml:space="preserve" class="s2083189CL">COLA applicable to supplemental pension benefits. </span></p><p dir="ltr" class="s2083189Statute"><span xml:space="preserve" class="s2083189DefaultParagraphFont">A supplemental pension participant shall receive a COLA applicable to the participant's supplemental pension benefit for each year commencing on the July first following the date on which the benefit was first payable, and equal to the COLA determined under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-704" rel="noopener"><span class="s2083189DefaultParagraphFont">3-12C-704</span></a><span class="s2083189DefaultParagraphFont">. However, no COLA is payable if the participant has received payments for less than twelve months.</span></p><p dir="ltr" class="s2083189Normal"><span xml:space="preserve" class="s2083189000000"> </span></p><p dir="ltr" class="s2083189NoIndent"><span xml:space="preserve" class="s2083189DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083189SCL">SL 2008, ch 24, § 6; SL 2010, ch 20, § 15; SL 2016, ch 31, § 31; SL 2017, ch 27, § 32; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-193" rel="noopener"><span class="s2083189SCL">3-12-193</span></a><span class="s2083189SCL">; SL 2019, ch 22, § 1; SL 2021, ch 26, § 8.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s48b46d33ef2e4e3ebdeb7d3f0275a87cNormal { 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.s48b46d33ef2e4e3ebdeb7d3f0275a87cSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s48b46d33ef2e4e3ebdeb7d3f0275a87cCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s48b46d33ef2e4e3ebdeb7d3f0275a87cNormal-000000 { margin-left: 0.25in; text-indent: 0.50in; text-align: justify; background: #FFFFFF; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s48b46d33ef2e4e3ebdeb7d3f0275a87cDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s48b46d33ef2e4e3ebdeb7d3f0275a87c000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s48b46d33ef2e4e3ebdeb7d3f0275a87cNoIndent { 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.s48b46d33ef2e4e3ebdeb7d3f0275a87cDefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s48b46d33ef2e4e3ebdeb7d3f0275a87cSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1505.1 - Increase in supplemental pension spouse s benefit."><meta property="og:description" content="SDLRC Codified Law 3-12C-1505.1 - Increase in supplemental pension spouse s benefit."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1505.1"><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="s48b46d33ef2e4e3ebdeb7d3f0275a87cNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1505.1" rel="noopener"><span class="s48b46d33ef2e4e3ebdeb7d3f0275a87cSENU">3-12C-1505.1</span></a><span xml:space="preserve" class="s48b46d33ef2e4e3ebdeb7d3f0275a87cSENU">. </span><span class="s48b46d33ef2e4e3ebdeb7d3f0275a87cCL">Increase in supplemental pension spouse s benefit.</span></p><p dir="ltr" class="s48b46d33ef2e4e3ebdeb7d3f0275a87cNormal-000000"><span class="s48b46d33ef2e4e3ebdeb7d3f0275a87cDefaultParagraphFont">A supplemental pension spouse's benefit must receive an annual increase in the same manner as does a participant's benefit.</span></p><p dir="ltr" class="s48b46d33ef2e4e3ebdeb7d3f0275a87cNormal"><span xml:space="preserve" class="s48b46d33ef2e4e3ebdeb7d3f0275a87c000001"> </span></p><p dir="ltr" class="s48b46d33ef2e4e3ebdeb7d3f0275a87cNoIndent"><span xml:space="preserve" class="s48b46d33ef2e4e3ebdeb7d3f0275a87cDefaultParagraphFont-000002">Source: </span><span class="s48b46d33ef2e4e3ebdeb7d3f0275a87cSCL">SL 2025, ch 27, § 58.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s29ade8de54ac463a832de0b9fa75e4a6Normal { 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.s29ade8de54ac463a832de0b9fa75e4a6SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s29ade8de54ac463a832de0b9fa75e4a6CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s29ade8de54ac463a832de0b9fa75e4a6Statute { 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.s29ade8de54ac463a832de0b9fa75e4a6DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s29ade8de54ac463a832de0b9fa75e4a6000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s29ade8de54ac463a832de0b9fa75e4a6NoIndent { 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.s29ade8de54ac463a832de0b9fa75e4a6DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s29ade8de54ac463a832de0b9fa75e4a6SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1505.2 - No value increase for single premium."><meta property="og:description" content="SDLRC Codified Law 3-12C-1505.2 - No value increase for single premium."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1505.2"><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="s29ade8de54ac463a832de0b9fa75e4a6Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1505.2" rel="noopener"><span class="s29ade8de54ac463a832de0b9fa75e4a6SENU">3-12C-1505.2</span></a><span xml:space="preserve" class="s29ade8de54ac463a832de0b9fa75e4a6SENU">. </span><span class="s29ade8de54ac463a832de0b9fa75e4a6CL">No value increase for single premium.</span></p><p dir="ltr" class="s29ade8de54ac463a832de0b9fa75e4a6Statute"><span class="s29ade8de54ac463a832de0b9fa75e4a6DefaultParagraphFont">For purposes of calculating any beneficiary payment, a participant's single premium does not increase in value during the period of the supplemental pension contract.</span></p><p dir="ltr" class="s29ade8de54ac463a832de0b9fa75e4a6Normal"><span xml:space="preserve" class="s29ade8de54ac463a832de0b9fa75e4a6000000"> </span></p><p dir="ltr" class="s29ade8de54ac463a832de0b9fa75e4a6NoIndent"><span xml:space="preserve" class="s29ade8de54ac463a832de0b9fa75e4a6DefaultParagraphFont-000001">Source: </span><span class="s29ade8de54ac463a832de0b9fa75e4a6SCL">SL 2025, ch 27, § 59.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033436Normal { 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.s2033436SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033436CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033436Normal-000000 { 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.s2033436DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033436Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033436Normal-000002 { text-indent: 0.25in; 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.s2033436000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033436SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033436SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033436Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1506"><span class="s2033436SENU">3-12C-1506</span></a><span xml:space="preserve" class="s2033436SENU">. </span><span class="s2033436CL">Death of participant or spouse--Lump sum distribution to beneficiaries--Time for making claim.</span></p><p dir="ltr" class="s2033436Normal-000000"><span class="s2033436DefaultParagraphFont">If payment of monthly supplemental pension benefits ceases due to the death of the participant or the death of a supplemental pension spouse, and the total of monthly supplemental pension benefits paid is less than the amount of the participant's single premium, the difference between the total benefits paid and the single premium shall be disbursed in a lump sum as provided in this section. Amounts payable under this section shall be disbursed as follows:</span></p><p dir="ltr" class="s2033436Normal-000001"><span class="s2033436DefaultParagraphFont">(1)    To the beneficiary or entity designated by the participant in the participant's supplemental pension contract record, if any is designated;</span></p><p dir="ltr" class="s2033436Normal-000001"><span class="s2033436DefaultParagraphFont">(2)    If no beneficiary or entity is designated, then to all surviving children of the participant, irrespective of age, on a share-alike basis; or</span></p><p dir="ltr" class="s2033436Normal-000001"><span class="s2033436DefaultParagraphFont">(3)    If no beneficiary or entity is designated and there are no surviving children, then to the participant's estate.</span></p><p dir="ltr" class="s2033436Normal-000002"><span class="s2033436DefaultParagraphFont">If no claim for payment due upon the death of a deceased participant is made within three years from date of death, the payment shall revert to the system. However, a claim may be honored after the expiration of the three-year reversion period if, in the opinion of the executive director, payment of the claim is warranted by exceptional circumstances.</span></p><p dir="ltr" class="s2033436Normal-000002"><span xml:space="preserve" class="s2033436DefaultParagraphFont">The provisions of this section are not affected by the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-409"><span class="s2033436DefaultParagraphFont">3-12C-409</span></a><span xml:space="preserve" class="s2033436DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-410"><span class="s2033436DefaultParagraphFont">3-12C-410</span></a><span class="s2033436DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033436Normal"><span xml:space="preserve" class="s2033436000003"> </span></p><p dir="ltr" class="s2033436Normal"><span class="s2033436SCL">Source:</span><span xml:space="preserve" class="s2033436SCL-000004"> SL 2008, ch 24, § 7; SL 2016, ch 31, § 32; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-194"><span class="s2033436SCL-000004">3-12-194</span></a><span class="s2033436SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033437Normal { 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.s2033437SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033437CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033437Normal-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.s2033437DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033437000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033437SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033437SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033437Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1507"><span class="s2033437SENU">3-12C-1507</span></a><span xml:space="preserve" class="s2033437SENU">. </span><span class="s2033437CL">Contract purchases and benefit payments deemed qualified plan distributed annuity contracts.</span></p><p dir="ltr" class="s2033437Normal-000000"><span xml:space="preserve" class="s2033437DefaultParagraphFont">Supplemental pension contract purchases and supplemental pension benefit payments administered pursuant to the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1501"><span class="s2033437DefaultParagraphFont">3-12C-1501</span></a><span xml:space="preserve" class="s2033437DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1510"><span class="s2033437DefaultParagraphFont">3-12C-1510</span></a><span class="s2033437DefaultParagraphFont">, inclusive, are considered to be qualified plan distributed annuity contracts under Internal Revenue Service Treasury Regulation 1.402(c)-2.</span></p><p dir="ltr" class="s2033437Normal"><span xml:space="preserve" class="s2033437000001"> </span></p><p dir="ltr" class="s2033437Normal"><span class="s2033437SCL">Source:</span><span xml:space="preserve" class="s2033437SCL-000002"> SL 2008, ch 24, § 8; SL 2016, ch 31, § 33; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-195"><span class="s2033437SCL-000002">3-12-195</span></a><span class="s2033437SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s36b729fb763c496a922e461464eecf4eNormal { 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.s36b729fb763c496a922e461464eecf4eSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s36b729fb763c496a922e461464eecf4eCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s36b729fb763c496a922e461464eecf4eStatute { 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.s36b729fb763c496a922e461464eecf4eDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s36b729fb763c496a922e461464eecf4e000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s36b729fb763c496a922e461464eecf4eNoIndent { 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.s36b729fb763c496a922e461464eecf4eDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s36b729fb763c496a922e461464eecf4eSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1507.1 - Distributions deemed reasonable and made in good faith under federal law."><meta property="og:description" content="SDLRC Codified Law 3-12C-1507.1 - Distributions deemed reasonable and made in good faith under federal law."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1507.1"><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="s36b729fb763c496a922e461464eecf4eNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1507.1" rel="noopener"><span class="s36b729fb763c496a922e461464eecf4eSENU">3-12C-1507.1</span></a><span xml:space="preserve" class="s36b729fb763c496a922e461464eecf4eSENU">. </span><span class="s36b729fb763c496a922e461464eecf4eCL">Distributions deemed reasonable and made in good faith under federal law.</span></p><p dir="ltr" class="s36b729fb763c496a922e461464eecf4eStatute"><span class="s36b729fb763c496a922e461464eecf4eDefaultParagraphFont">Any supplemental pension benefit calculation or payment is deemed to be reasonable and made in good faith under § 401(a)(9) of the Internal Revenue Code.</span></p><p dir="ltr" class="s36b729fb763c496a922e461464eecf4eNormal"><span xml:space="preserve" class="s36b729fb763c496a922e461464eecf4e000000"> </span></p><p dir="ltr" class="s36b729fb763c496a922e461464eecf4eNoIndent"><span xml:space="preserve" class="s36b729fb763c496a922e461464eecf4eDefaultParagraphFont-000001">Source: </span><span class="s36b729fb763c496a922e461464eecf4eSCL">SL 2025, ch 27, § 60.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083151Normal { 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.s2083151SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083151CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083151Statute { 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.s2083151DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083151000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083151NoIndent { 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.s2083151DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083151SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1508 - Minimum distribution rules--Annual benefit limitations."><meta property="og:description" content="SDLRC Codified Law 3-12C-1508 - Minimum distribution rules--Annual benefit limitations."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1508"><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="s2083151Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1508" rel="noopener"><span class="s2083151SENU">3-12C-1508</span></a><span xml:space="preserve" class="s2083151SENU">. </span><span xml:space="preserve" class="s2083151CL">Minimum distribution rules--Annual benefit limitations. </span></p><p dir="ltr" class="s2083151Statute"><span xml:space="preserve" class="s2083151DefaultParagraphFont">Supplemental pension benefit payments shall follow the minimum distribution rules of § 401(a)(9) of the Internal Revenue Code and as set forth in §§ 3-12C-1901 to 3-12C-1905, inclusive, and the annual benefit limitations of § 415(b)(1)(A) of the Internal Revenue Code and as set forth in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1801" rel="noopener"><span class="s2083151DefaultParagraphFont">3-12C-1801</span></a><span xml:space="preserve" class="s2083151DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1817" rel="noopener"><span class="s2083151DefaultParagraphFont">3-12C-1817</span></a><span class="s2083151DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2083151Normal"><span xml:space="preserve" class="s2083151000000"> </span></p><p dir="ltr" class="s2083151NoIndent"><span xml:space="preserve" class="s2083151DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083151SCL">SL 2008, ch 24, § 9; SL 2013, ch 20, § 15; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-196" rel="noopener"><span class="s2083151SCL">3-12-196</span></a><span class="s2083151SCL">; SL 2019, ch 22, § 1; SL 2021, ch 28, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033439Normal { 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.s2033439SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033439CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033439Normal-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.s2033439DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033439000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033439SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033439SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033439Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1509"><span class="s2033439SENU">3-12C-1509</span></a><span xml:space="preserve" class="s2033439SENU">. </span><span class="s2033439CL">Applicability of certain retirement system provisions.</span></p><p dir="ltr" class="s2033439Normal-000000"><span xml:space="preserve" class="s2033439DefaultParagraphFont">Supplemental pension benefits are not subject to the duplicate benefit provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-709"><span class="s2033439DefaultParagraphFont">3-12C-709</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont">, to the participant reemployment restrictions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-703"><span class="s2033439DefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1402"><span class="s2033439DefaultParagraphFont">3-12C-1402</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1403"><span class="s2033439DefaultParagraphFont">3-12C-1403</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1404"><span class="s2033439DefaultParagraphFont">3-12C-1404</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1405"><span class="s2033439DefaultParagraphFont">3-12C-1405</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1406"><span class="s2033439DefaultParagraphFont">3-12C-1406</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont">, nor to the benefit adjustment provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1111"><span class="s2033439DefaultParagraphFont">3-12C-1111</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1112"><span class="s2033439DefaultParagraphFont">3-12C-1112</span></a><span xml:space="preserve" class="s2033439DefaultParagraphFont">. Supplemental pension benefits are optional benefits granted the protections of the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-216"><span class="s2033439DefaultParagraphFont">3-12C-216</span></a><span class="s2033439DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033439Normal"><span xml:space="preserve" class="s2033439000001"> </span></p><p dir="ltr" class="s2033439Normal"><span class="s2033439SCL">Source:</span><span xml:space="preserve" class="s2033439SCL-000002"> SL 2008, ch 24, § 10; SL 2010, ch 23, § 9, eff. Apr. 1, 2010; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-197"><span class="s2033439SCL-000002">3-12-197</span></a><span class="s2033439SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033440Normal { 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.s2033440SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033440CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033440Normal-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.s2033440DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033440Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033440000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033440SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033440SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033440Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1510"><span class="s2033440SENU">3-12C-1510</span></a><span xml:space="preserve" class="s2033440SENU">. </span><span class="s2033440CL">Exemption from Title 58 and from securities and agent registration.</span></p><p dir="ltr" class="s2033440Normal-000000"><span xml:space="preserve" class="s2033440DefaultParagraphFont">While performing their official duties under the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1501"><span class="s2033440DefaultParagraphFont">3-12C-1501</span></a><span xml:space="preserve" class="s2033440DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1510"><span class="s2033440DefaultParagraphFont">3-12C-1510</span></a><span class="s2033440DefaultParagraphFont">, inclusive, the board, the employees of the system, the system's actuary, the State Investment Council, and the employees of the State Investment Council are exempt from the provisions of Title 58 and any associated provisions of state law. Supplemental pension benefits and supplemental pension contracts are exempt from the provisions of Title 58.</span></p><p dir="ltr" class="s2033440Normal-000001"><span xml:space="preserve" class="s2033440DefaultParagraphFont">To the extent that supplemental pension contracts may be deemed to be securities, they are exempt from securities registration pursuant to subdivision 47-31B-201(1). While performing their official duties under the provisions of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1501"><span class="s2033440DefaultParagraphFont">3-12C-1501</span></a><span xml:space="preserve" class="s2033440DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1510"><span class="s2033440DefaultParagraphFont">3-12C-1510</span></a><span class="s2033440DefaultParagraphFont">, inclusive, the board, the employees of the system, the system's actuary, the State Investment Council, and the employees of the State Investment Council are exempt from agent registration provisions pursuant to subdivision 47-31B-402(b)(3).</span></p><p dir="ltr" class="s2033440Normal"><span xml:space="preserve" class="s2033440000002"> </span></p><p dir="ltr" class="s2033440Normal"><span class="s2033440SCL">Source:</span><span xml:space="preserve" class="s2033440SCL-000003"> SL 2008, ch 24, § 11; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-198"><span class="s2033440SCL-000003">3-12-198</span></a><span class="s2033440SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sb37174021d8544ee85e3633ccf02294fNormal { 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.sb37174021d8544ee85e3633ccf02294fSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb37174021d8544ee85e3633ccf02294fCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sb37174021d8544ee85e3633ccf02294fStatute { 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.sb37174021d8544ee85e3633ccf02294fDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sb37174021d8544ee85e3633ccf02294f000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sb37174021d8544ee85e3633ccf02294fNoIndent { 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.sb37174021d8544ee85e3633ccf02294fDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb37174021d8544ee85e3633ccf02294fSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1511 - Participant s status as retiree."><meta property="og:description" content="SDLRC Codified Law 3-12C-1511 - Participant s status as retiree."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1511"><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="sb37174021d8544ee85e3633ccf02294fNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1511" rel="noopener"><span class="sb37174021d8544ee85e3633ccf02294fSENU">3-12C-1511</span></a><span xml:space="preserve" class="sb37174021d8544ee85e3633ccf02294fSENU">. </span><span class="sb37174021d8544ee85e3633ccf02294fCL">Participant s status as retiree.</span></p><p dir="ltr" class="sb37174021d8544ee85e3633ccf02294fStatute"><span class="sb37174021d8544ee85e3633ccf02294fDefaultParagraphFont">For purposes of this chapter, a member of the system who has received payment of at least one monthly retirement benefit is a retiree, even if the member has returned to employment with a member unit, either with or without suspension of the retirement benefit.</span></p><p dir="ltr" class="sb37174021d8544ee85e3633ccf02294fNormal"><span xml:space="preserve" class="sb37174021d8544ee85e3633ccf02294f000000"> </span></p><p dir="ltr" class="sb37174021d8544ee85e3633ccf02294fNoIndent"><span xml:space="preserve" class="sb37174021d8544ee85e3633ccf02294fDefaultParagraphFont-000001">Source: </span><span class="sb37174021d8544ee85e3633ccf02294fSCL">SL 2025, ch 27, § 61.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033441Normal { 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.s2033441SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033441CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033441Normal-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.s2033441DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033441000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033441SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033441SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033441Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1601"><span class="s2033441SENU">3-12C-1601</span></a><span xml:space="preserve" class="s2033441SENU">. </span><span class="s2033441CL">Previous retirement systems consolidated--Purpose.</span></p><p dir="ltr" class="s2033441Normal-000000"><span class="s2033441DefaultParagraphFont">The Supreme and Circuit Court Judicial Retirement System, district county court and municipal court judges retirement program, South Dakota Teachers Retirement System, South Dakota Municipal Retirement System, South Dakota Law Enforcement Retirement System, and South Dakota Public Employees Retirement System are hereby continued as a consolidated system known as the South Dakota Retirement System to provide an orderly means of continuing benefits of those already retired and those eligible to retire from the respective systems.</span></p><p dir="ltr" class="s2033441Normal"><span xml:space="preserve" class="s2033441000001"> </span></p><p dir="ltr" class="s2033441Normal"><span class="s2033441SCL">Source:</span><span xml:space="preserve" class="s2033441SCL-000002"> SL 1967, ch 303, § 1; SDCL § 3-12-3; SL 1968, ch 216, § 1; SL 1974, ch 35, § 1; SL 1976, ch 39, § 4; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-46"><span class="s2033441SCL-000002">3-12-46</span></a><span class="s2033441SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033442Normal { 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.s2033442SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033442CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033442Normal-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.s2033442DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033442000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033442SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033442SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033442Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1602"><span class="s2033442SENU">3-12C-1602</span></a><span xml:space="preserve" class="s2033442SENU">. </span><span class="s2033442CL">Intent to provide increased benefits to previously retired members of systems.</span></p><p dir="ltr" class="s2033442Normal-000000"><span class="s2033442DefaultParagraphFont">It is the intent of the Legislature of the State of South Dakota to provide increased benefits for the already retired members of the retirement systems consolidated into the South Dakota Retirement System created by this chapter and to provide the financial resources necessary to adequately pay for the increased benefits.</span></p><p dir="ltr" class="s2033442Normal"><span xml:space="preserve" class="s2033442000001"> </span></p><p dir="ltr" class="s2033442Normal"><span class="s2033442SCL">Source:</span><span xml:space="preserve" class="s2033442SCL-000002"> SL 1974, ch 35, § 77; SL 2017, ch 27, § 23; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-123"><span class="s2033442SCL-000002">3-12-123</span></a><span class="s2033442SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033443Normal { 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.s2033443SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033443CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033443Normal-000000 { 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.s2033443DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033443Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033443Normal-000002 { text-indent: 0.25in; 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.s2033443000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033443SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033443SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033443Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1603"><span class="s2033443SENU">3-12C-1603</span></a><span xml:space="preserve" class="s2033443SENU">. </span><span class="s2033443CL">Increase in benefits for previously retired members of systems.</span></p><p dir="ltr" class="s2033443Normal-000000"><span class="s2033443DefaultParagraphFont">Any retired members of the Supreme and Circuit Court Judicial Retirement System, District County Court and Municipal Court Judges Retirement Program, South Dakota Teachers Retirement System, South Dakota Municipal Retirement System, South Dakota Law Enforcement Retirement System, South Dakota Public Employees Retirement System and State Cement Plant Retirement Program as of June 30, 1974, who were receiving or eligible to receive a retirement benefit shall be entitled to an increased monthly benefit commencing with the payment due on or after July 1, 1974, equal to the greater of:</span></p><p dir="ltr" class="s2033443Normal-000001"><span class="s2033443DefaultParagraphFont">(1)    One hundred ten percent of the benefit the member was entitled to on June 30, 1974, under the retirement system from which the member retired; or</span></p><p dir="ltr" class="s2033443Normal-000001"><span class="s2033443DefaultParagraphFont">(2)    Ten dollars times the years of credited contributory service or fraction thereof, under the retirement system from which the member retired, to a maximum of one hundred dollars.</span></p><p dir="ltr" class="s2033443Normal-000002"><span class="s2033443DefaultParagraphFont">The time, manner, and form of payment of the retirement benefit are not modified by the change in benefits provided by this section.</span></p><p dir="ltr" class="s2033443Normal"><span xml:space="preserve" class="s2033443000003"> </span></p><p dir="ltr" class="s2033443Normal"><span class="s2033443SCL">Source:</span><span xml:space="preserve" class="s2033443SCL-000004"> SL 1974, ch 35, §§ 78, 79; SL 2017, ch 27, § 24; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-124"><span class="s2033443SCL-000004">3-12-124</span></a><span class="s2033443SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033444Normal { 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.s2033444SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033444CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033444Normal-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.s2033444DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033444000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033444SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033444SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033444Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1604"><span class="s2033444SENU">3-12C-1604</span></a><span xml:space="preserve" class="s2033444SENU">. </span><span class="s2033444CL">Adjustment of increase for retired members electing optional payment or early retirement.</span></p><p dir="ltr" class="s2033444Normal-000000"><span class="s2033444DefaultParagraphFont">The amount calculated under subdivision 3-12C-1603(2) will be adjusted to its actuarial equivalent if the retired member had elected an optional form of payment other than the normal form provided by the retirement system from which the member retired, or if the age of a retired member is less than the normal retirement age necessary for receiving a normal retirement benefit as provided by the retirement system from which the member retired.</span></p><p dir="ltr" class="s2033444Normal"><span xml:space="preserve" class="s2033444000001"> </span></p><p dir="ltr" class="s2033444Normal"><span class="s2033444SCL">Source:</span><span xml:space="preserve" class="s2033444SCL-000002"> SL 1974, ch 35, § 79; SL 2017, ch 27, § 25; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-125"><span class="s2033444SCL-000002">3-12-125</span></a><span class="s2033444SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033445Normal { 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.s2033445SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033445CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033445Normal-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.s2033445DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033445000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033445SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033445SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033445Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1605"><span class="s2033445SENU">3-12C-1605</span></a><span xml:space="preserve" class="s2033445SENU">. </span><span class="s2033445CL">Previously retired members paid from consolidated fund.</span></p><p dir="ltr" class="s2033445Normal-000000"><span xml:space="preserve" class="s2033445DefaultParagraphFont">Notwithstanding the repeal on July 1, 1974, of chapters </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12"><span class="s2033445DefaultParagraphFont">3-12</span></a><span xml:space="preserve" class="s2033445DefaultParagraphFont">; </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-13"><span class="s2033445DefaultParagraphFont">3-13</span></a><span xml:space="preserve" class="s2033445DefaultParagraphFont">; </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=9-15"><span class="s2033445DefaultParagraphFont">9-15</span></a><span xml:space="preserve" class="s2033445DefaultParagraphFont">; </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=13-45"><span class="s2033445DefaultParagraphFont">13-45</span></a><span xml:space="preserve" class="s2033445DefaultParagraphFont">; certain provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=16-8"><span class="s2033445DefaultParagraphFont">16-8</span></a><span xml:space="preserve" class="s2033445DefaultParagraphFont">; chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=16-11A"><span class="s2033445DefaultParagraphFont">16-11A</span></a><span xml:space="preserve" class="s2033445DefaultParagraphFont">, and certain provisions of chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=33-13"><span class="s2033445DefaultParagraphFont">33-13</span></a><span class="s2033445DefaultParagraphFont">, persons retired under those programs, and teachers retired under the provisions of chapter 51 of the Session Laws of 1939, as amended, who retired pursuant to that act prior to July 1, 1951, and beneficiaries of deceased retirees of those programs, to the extent they are being paid benefits on July 1, 1974, shall be secured in the benefits provided by those provisions from the fund established pursuant to this chapter.</span></p><p dir="ltr" class="s2033445Normal"><span xml:space="preserve" class="s2033445000001"> </span></p><p dir="ltr" class="s2033445Normal"><span class="s2033445SCL">Source:</span><span xml:space="preserve" class="s2033445SCL-000002"> SL 1974, ch 35, § 82; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-126"><span class="s2033445SCL-000002">3-12-126</span></a><span class="s2033445SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s537510e82e094c80936ea9da4288368aNormal { 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.s537510e82e094c80936ea9da4288368aSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s537510e82e094c80936ea9da4288368aCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s537510e82e094c80936ea9da4288368aStatute { 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.s537510e82e094c80936ea9da4288368aDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s537510e82e094c80936ea9da4288368a000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s537510e82e094c80936ea9da4288368aNoIndent { 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.s537510e82e094c80936ea9da4288368aDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s537510e82e094c80936ea9da4288368aSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1606 - Members of consolidated systems--Entitled to prior benefits--Retention of Code."><meta property="og:description" content="SDLRC Codified Law 3-12C-1606 - Members of consolidated systems--Entitled to prior benefits--Retention of Code."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1606"><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="s537510e82e094c80936ea9da4288368aNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1606" rel="noopener"><span class="s537510e82e094c80936ea9da4288368aSENU">3-12C-1606</span></a><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aSENU">. </span><span class="s537510e82e094c80936ea9da4288368aCL">Members of consolidated systems--Entitled to prior benefits--Retention of Code.</span></p><p dir="ltr" class="s537510e82e094c80936ea9da4288368aStatute"><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">Notwithstanding the repeal on July 1, 1974, of chapters </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12" rel="noopener"><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">3-12</span></a><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes?Statute=3-13" rel="noopener"><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">3-13</span></a><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes?Statute=9-15" rel="noopener"><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">9-15</span></a><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes?Statute=13-45" rel="noopener"><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">13-45</span></a><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">, certain provisions of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=16-8" rel="noopener"><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">16-8</span></a><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">, chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=16-11A" rel="noopener"><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">16-11A</span></a><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">, and certain provisions of chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=33-13" rel="noopener"><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">33-13</span></a><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">, all members of systems established thereunder are entitled to retire at the age, with the length of service and the benefits available to the members, under those provisions or the provisions of this chapter.</span></p><p dir="ltr" class="s537510e82e094c80936ea9da4288368aStatute"><span class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont">For purposes of this section, the executive director shall retain as part of the permanent files all volumes of the South Dakota Codified Laws.</span></p><p dir="ltr" class="s537510e82e094c80936ea9da4288368aNormal"><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368a000000"> </span></p><p dir="ltr" class="s537510e82e094c80936ea9da4288368aNoIndent"><span xml:space="preserve" class="s537510e82e094c80936ea9da4288368aDefaultParagraphFont-000001">Source: </span><span class="s537510e82e094c80936ea9da4288368aSCL">SL 1974, ch 35, § 83; SL 1975, ch 39, § 7; SL 2016, ch 31, § 27; SDCL § 3-12-127; SL 2019, ch 22, § 1; SL 2025, ch 27, § 62.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033447Normal { 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.s2033447SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033447CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033447Normal-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.s2033447DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033447000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033447SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033447SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033447Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1607"><span class="s2033447SENU">3-12C-1607</span></a><span xml:space="preserve" class="s2033447SENU">. </span><span class="s2033447CL">Amount of benefits for justice or judge mandatorily retired.</span></p><p dir="ltr" class="s2033447Normal-000000"><span xml:space="preserve" class="s2033447DefaultParagraphFont">Any justice of the Supreme Court or judge of the circuit court of this state who is automatically retired pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=16-1-4.1"><span class="s2033447DefaultParagraphFont">16-1-4.1</span></a><span xml:space="preserve" class="s2033447DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=16-6-31"><span class="s2033447DefaultParagraphFont">16-6-31</span></a><span class="s2033447DefaultParagraphFont">, or who, having reached age seventy, retired before January 7, 1975, and who has not fully qualified for retirement benefits as provided by this chapter shall nevertheless receive retirement benefits in the proportion that his or her total time served bears to fifteen years, or if the justice or judge has served in excess of fifteen years then receive full benefits.</span></p><p dir="ltr" class="s2033447Normal"><span xml:space="preserve" class="s2033447000001"> </span></p><p dir="ltr" class="s2033447Normal"><span class="s2033447SCL">Source:</span><span xml:space="preserve" class="s2033447SCL-000002"> SL 1973, ch 133, § 3; SDCL Supp, § 16-8-9.3; SL 1974, ch 35, § 49; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-93"><span class="s2033447SCL-000002">3-12-93</span></a><span class="s2033447SCL-000002">; SL 2019, ch 22, §§ 39, 45.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</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; margin-bottom: .001pt; } span.s2083180DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083180StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2083180000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083180NoIndent { 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.s2083180DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083180SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033449Normal { 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.s2033449SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033449CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033449Normal-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.s2033449DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033449000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033449SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033449SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033449Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1609"><span class="s2033449SENU">3-12C-1609</span></a><span xml:space="preserve" class="s2033449SENU">. </span><span class="s2033449CL">Existing regents' contracts preserved--Expansion of retirement plan--Transition.</span></p><p dir="ltr" class="s2033449Normal-000000"><span xml:space="preserve" class="s2033449DefaultParagraphFont">Nothing in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1608"><span class="s2033449DefaultParagraphFont">3-12C-1608</span></a><span xml:space="preserve" class="s2033449DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1612"><span class="s2033449DefaultParagraphFont">3-12C-1612</span></a><span class="s2033449DefaultParagraphFont">, inclusive, shall be construed to be a termination of any contract made on behalf of the State of South Dakota and its employees by the Board of Regents. The purpose of said sections is to expand the retirement plan of the Board of Regents for faculty and administrators and to allow for the transition of the plan in effect from April 1, 1964, to June 30, 1975, into the South Dakota Retirement System as provided for in this chapter.</span></p><p dir="ltr" class="s2033449Normal"><span xml:space="preserve" class="s2033449000001"> </span></p><p dir="ltr" class="s2033449Normal"><span class="s2033449SCL">Source:</span><span xml:space="preserve" class="s2033449SCL-000002"> SL 1975, ch 38, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-69.2"><span class="s2033449SCL-000002">3-12-69.2</span></a><span class="s2033449SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033450Normal { 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.s2033450SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033450CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033450Normal-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.s2033450DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033450000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033450SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033450SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033450Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1610"><span class="s2033450SENU">3-12C-1610</span></a><span xml:space="preserve" class="s2033450SENU">. </span><span class="s2033450CL">Contract for purchase of service for Board of Regents.</span></p><p dir="ltr" class="s2033450Normal-000000"><span xml:space="preserve" class="s2033450DefaultParagraphFont">The Board of Regents shall enter into a contractual agreement with the Board of Trustees on the same basis as a new participating unit for purchase of a maximum of twenty years of service prior to April 1, 1964, pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-308"><span class="s2033450DefaultParagraphFont">3-12C-308</span></a><span xml:space="preserve" class="s2033450DefaultParagraphFont"> and subject to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1611"><span class="s2033450DefaultParagraphFont">3-12C-1611</span></a><span class="s2033450DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033450Normal"><span xml:space="preserve" class="s2033450000001"> </span></p><p dir="ltr" class="s2033450Normal"><span class="s2033450SCL">Source:</span><span xml:space="preserve" class="s2033450SCL-000002"> SL 1975, ch 38, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-69.3"><span class="s2033450SCL-000002">3-12-69.3</span></a><span class="s2033450SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033451Normal { 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.s2033451SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033451CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033451Normal-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.s2033451DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033451000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033451SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033451SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033451Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1611"><span class="s2033451SENU">3-12C-1611</span></a><span xml:space="preserve" class="s2033451SENU">. </span><span class="s2033451CL">Contributory service credited to Board of Regents employees--Eligibility of nonparticipating employees--Qualification for prior credited service.</span></p><p dir="ltr" class="s2033451Normal-000000"><span xml:space="preserve" class="s2033451DefaultParagraphFont">Employees of the Board of Regents shall be credited with contributory service for each year such employee participated in the retirement plan in effect between April 1, 1964, and June 30, 1975. Employees of the Board of Regents who did not participate during all the years that they were eligible to participate in the Board of Regents retirement plan in effect from April 1, 1964, to June 30, 1975, are eligible for credited service only if purchase is made pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-504"><span class="s2033451DefaultParagraphFont">3-12C-504</span></a><span xml:space="preserve" class="s2033451DefaultParagraphFont">. Credited service must be obtained for all South Dakota service between April 1, 1964, and June 30, 1975, in order to qualify an employee for credited service prior to April 1, 1964, as granted by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1610"><span class="s2033451DefaultParagraphFont">3-12C-1610</span></a><span class="s2033451DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033451Normal"><span xml:space="preserve" class="s2033451000001"> </span></p><p dir="ltr" class="s2033451Normal"><span class="s2033451SCL">Source:</span><span xml:space="preserve" class="s2033451SCL-000002"> SL 1975, ch 38, § 4; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-69.4"><span class="s2033451SCL-000002">3-12-69.4</span></a><span class="s2033451SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s1c1127ee05eb418382b245a0a0c2ed44Normal { 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.s1c1127ee05eb418382b245a0a0c2ed44SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1c1127ee05eb418382b245a0a0c2ed44CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s1c1127ee05eb418382b245a0a0c2ed44Statute { 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.s1c1127ee05eb418382b245a0a0c2ed44DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s1c1127ee05eb418382b245a0a0c2ed44000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s1c1127ee05eb418382b245a0a0c2ed44NoIndent { 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.s1c1127ee05eb418382b245a0a0c2ed44DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1c1127ee05eb418382b245a0a0c2ed44SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1612 - Normal retirement allowance reduced by actuarial equivalent--Deposit of individual balance--Member contributions."><meta property="og:description" content="SDLRC Codified Law 3-12C-1612 - Normal retirement allowance reduced by actuarial equivalent--Deposit of individual balance--Member contributions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1612"><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="s1c1127ee05eb418382b245a0a0c2ed44Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1612" rel="noopener"><span class="s1c1127ee05eb418382b245a0a0c2ed44SENU">3-12C-1612</span></a><span xml:space="preserve" class="s1c1127ee05eb418382b245a0a0c2ed44SENU">. </span><span class="s1c1127ee05eb418382b245a0a0c2ed44CL">Normal retirement allowance reduced by actuarial equivalent--Deposit of individual balance--Member contributions.</span></p><p dir="ltr" class="s1c1127ee05eb418382b245a0a0c2ed44Statute"><span xml:space="preserve" class="s1c1127ee05eb418382b245a0a0c2ed44DefaultParagraphFont">All benefits payable pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1106" rel="noopener"><span class="s1c1127ee05eb418382b245a0a0c2ed44DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s1c1127ee05eb418382b245a0a0c2ed44DefaultParagraphFont"> must be reduced by the actuarial equivalent that could be purchased by a sum of money equal to twice the value of the Board of Regents' balance payable at the member's retirement. The Board of Regents is hereby authorized, if the Board of Regents receives member approval, to deposit with the system the individual balance accumulated in the regents retirement system during the period of April 1, 1964, to June 30, 1975. The deposit must not include the excess balance, as defined in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1608" rel="noopener"><span class="s1c1127ee05eb418382b245a0a0c2ed44DefaultParagraphFont">3-12C-1608</span></a><span class="s1c1127ee05eb418382b245a0a0c2ed44DefaultParagraphFont">. The individual balance is considered a member contribution.</span></p><p dir="ltr" class="s1c1127ee05eb418382b245a0a0c2ed44Normal"><span xml:space="preserve" class="s1c1127ee05eb418382b245a0a0c2ed44000000"> </span></p><p dir="ltr" class="s1c1127ee05eb418382b245a0a0c2ed44NoIndent"><span xml:space="preserve" class="s1c1127ee05eb418382b245a0a0c2ed44DefaultParagraphFont-000001">Source: </span><span class="s1c1127ee05eb418382b245a0a0c2ed44SCL">SL 1975, ch 38, § 5; SL 1976, ch 40, § 2; SL 1979, ch 29, § 2; SDCL § 3-12-69.5; SL 2019, ch 22, § 1; SL 2025, ch 27, § 63.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083181Normal { 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.s2083181SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083181CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083181Statute { 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.s2083181DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083181000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083181NoIndent { 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.s2083181DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083181SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1613 - Allowance to surviving spouse of law enforcement officer retired for disability."><meta property="og:description" content="SDLRC Codified Law 3-12C-1613 - Allowance to surviving spouse of law enforcement officer retired for disability."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1613"><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="s2083181Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1613" rel="noopener"><span class="s2083181SENU">3-12C-1613</span></a><span xml:space="preserve" class="s2083181SENU">. </span><span xml:space="preserve" class="s2083181CL">Allowance to surviving spouse of law enforcement officer retired for disability. </span></p><p dir="ltr" class="s2083181Statute"><span xml:space="preserve" class="s2083181DefaultParagraphFont">The surviving spouse of a disability retiree under the Law Enforcement Officers' Retirement System as consolidated into the South Dakota Retirement System pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1601" rel="noopener"><span class="s2083181DefaultParagraphFont">3-12C-1601</span></a><span xml:space="preserve" class="s2083181DefaultParagraphFont"> shall upon the death of the member be entitled to an annuity equal to one-half the member's annuity at the time of death. The retirement for disability upon which annuity was based shall have been approved prior to July 1, 1974.</span></p><p dir="ltr" class="s2083181Normal"><span xml:space="preserve" class="s2083181000000"> </span></p><p dir="ltr" class="s2083181NoIndent"><span xml:space="preserve" class="s2083181DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083181SCL">SL 1979, ch 26, § 3A; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-94.1" rel="noopener"><span class="s2083181SCL">3-12-94.1</span></a><span class="s2083181SCL">; SL 2019, ch 22, § 1; SL 2021, ch 27, § 7.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079915Normal { 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.s2079915SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079915CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079915000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079915DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079915SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2079915Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1614"><span class="s2079915SENU">3-12C-1614</span></a><span xml:space="preserve" class="s2079915SENU">. </span><span class="s2079915CL">Repealed.</span></p><p dir="ltr" class="s2079915Normal"><span xml:space="preserve" class="s2079915000000"> </span></p><p dir="ltr" class="s2079915Normal"><span xml:space="preserve" class="s2079915DefaultParagraphFont">Source: </span><span class="s2079915SCL">SL 1980, ch 33, § 2; SL 2011, ch 1 (Ex. Ord. 11-1), § 33, eff. Apr. 12, 2011; SL 2012, ch 26, § 9; SL 2016, ch 31, § 6.; SDCL § 3-12-62.1; SL 2019, ch 22, § 1; SL 2020, ch 13, § 7.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033455Normal { 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.s2033455SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033455CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033455Normal-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.s2033455DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033455000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033455SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033455SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033455Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1615"><span class="s2033455SENU">3-12C-1615</span></a><span xml:space="preserve" class="s2033455SENU">. </span><span class="s2033455CL">Rapid City firefighter membership in system--Benefits and credited service.</span></p><p dir="ltr" class="s2033455Normal-000000"><span class="s2033455DefaultParagraphFont">On July 1, 1982, all employees of the municipality of Rapid City who are participants in the municipality of Rapid City firemen pension fund on June 30, 1982, and all retirees receiving benefits from that fund shall become members of the system. Each employee shall receive credited service under the system for all service earned under the municipality of Rapid City firemen pension fund.</span></p><p dir="ltr" class="s2033455Normal"><span xml:space="preserve" class="s2033455000001"> </span></p><p dir="ltr" class="s2033455Normal"><span class="s2033455SCL">Source:</span><span xml:space="preserve" class="s2033455SCL-000002"> SL 1982, ch 37, § 1; SL 1992, ch 60 § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62.2"><span class="s2033455SCL-000002">3-12-62.2</span></a><span class="s2033455SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033456Normal { 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.s2033456SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033456CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033456Normal-000000 { 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.s2033456DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033456Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033456000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033456SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033456SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033456Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1616"><span class="s2033456SENU">3-12C-1616</span></a><span xml:space="preserve" class="s2033456SENU">. </span><span class="s2033456CL">Rapid City firefighter retirement benefits--Normal retirement age.</span></p><p dir="ltr" class="s2033456Normal-000000"><span xml:space="preserve" class="s2033456DefaultParagraphFont">Upon retirement, each employee described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1615"><span class="s2033456DefaultParagraphFont">3-12C-1615</span></a><span xml:space="preserve" class="s2033456DefaultParagraphFont"> shall receive the greater of:</span></p><p dir="ltr" class="s2033456Normal-000001"><span class="s2033456DefaultParagraphFont">(1)    The member's retirement benefit calculated under this chapter; or</span></p><p dir="ltr" class="s2033456Normal-000001"><span class="s2033456DefaultParagraphFont">(2)    The retirement benefit calculated under the municipality of Rapid City firemen pension fund based on credited service up to June 30, 1982, and compensation up to June 30, 1982.</span></p><p dir="ltr" class="s2033456Normal"><span class="s2033456DefaultParagraphFont">The normal retirement age of each such employee is fifty-five.</span></p><p dir="ltr" class="s2033456Normal"><span xml:space="preserve" class="s2033456000002"> </span></p><p dir="ltr" class="s2033456Normal"><span class="s2033456SCL">Source:</span><span xml:space="preserve" class="s2033456SCL-000003"> SL 1982, ch 37, § 2; SL 1992, ch 60, § 2; SL 2017, ch 27, § 8; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62.3"><span class="s2033456SCL-000003">3-12-62.3</span></a><span class="s2033456SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033457Normal { 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.s2033457SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033457CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033457Normal-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.s2033457DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033457000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033457SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033457SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033457Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1617"><span class="s2033457SENU">3-12C-1617</span></a><span xml:space="preserve" class="s2033457SENU">. </span><span class="s2033457CL">Payments from public employees retirement fund to Rapid City firefighters.</span></p><p dir="ltr" class="s2033457Normal-000000"><span xml:space="preserve" class="s2033457DefaultParagraphFont">The benefits of the retirees described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1615"><span class="s2033457DefaultParagraphFont">3-12C-1615</span></a><span xml:space="preserve" class="s2033457DefaultParagraphFont"> who are entitled to receive benefits from the municipality of Rapid City firemen pension fund on July 1, 1982, shall be paid from the fund established by this chapter.</span></p><p dir="ltr" class="s2033457Normal"><span xml:space="preserve" class="s2033457000001"> </span></p><p dir="ltr" class="s2033457Normal"><span class="s2033457SCL">Source:</span><span xml:space="preserve" class="s2033457SCL-000002"> SL 1982, ch 37, § 3; SL 1992, ch 60, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62.4"><span class="s2033457SCL-000002">3-12-62.4</span></a><span class="s2033457SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033458Normal { 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.s2033458SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033458CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033458Normal-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.s2033458DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033458000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033458SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033458SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033458Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1618"><span class="s2033458SENU">3-12C-1618</span></a><span xml:space="preserve" class="s2033458SENU">. </span><span class="s2033458CL">Payments by Rapid City.</span></p><p dir="ltr" class="s2033458Normal-000000"><span xml:space="preserve" class="s2033458DefaultParagraphFont">The municipality of Rapid City shall pay to the system an amount equal to the present value of all benefits earned by employees described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1615"><span class="s2033458DefaultParagraphFont">3-12C-1615</span></a><span xml:space="preserve" class="s2033458DefaultParagraphFont"> up to July 1, 1982, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1980. That amount shall be determined as of the close of business on July 1, 1982, by the system's actuary. Any amount to be paid to the system by the municipality of Rapid City which exceeds the value of the assets of the municipality of Rapid City firemen pension fund, determined as of the date of transfer of the assets, may be paid in periodic installments as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-308"><span class="s2033458DefaultParagraphFont">3-12C-308</span></a><span class="s2033458DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033458Normal"><span xml:space="preserve" class="s2033458000001"> </span></p><p dir="ltr" class="s2033458Normal"><span class="s2033458SCL">Source:</span><span xml:space="preserve" class="s2033458SCL-000002"> SL 1982, ch 37, § 4; SL 1992, ch 60, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62.5"><span class="s2033458SCL-000002">3-12-62.5</span></a><span class="s2033458SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033459Normal { 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.s2033459SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033459CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033459Normal-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.s2033459DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033459000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033459SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033459SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033459Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1619"><span class="s2033459SENU">3-12C-1619</span></a><span xml:space="preserve" class="s2033459SENU">. </span><span class="s2033459CL">Crediting of transfers from Rapid City pension fund.</span></p><p dir="ltr" class="s2033459Normal-000000"><span class="s2033459DefaultParagraphFont">All amounts transferred to the system from the municipality of Rapid City firemen pension fund which, under the fund, were credited to the accounts of individual employees shall be considered employee contributions under this chapter.</span></p><p dir="ltr" class="s2033459Normal"><span xml:space="preserve" class="s2033459000001"> </span></p><p dir="ltr" class="s2033459Normal"><span class="s2033459SCL">Source:</span><span xml:space="preserve" class="s2033459SCL-000002"> SL 1982, ch 37, § 5; SL 1992, ch 60, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62.6"><span class="s2033459SCL-000002">3-12-62.6</span></a><span class="s2033459SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033460Normal { 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.s2033460SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033460CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033460Normal-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.s2033460DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033460000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033460SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033460SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033460Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1620"><span class="s2033460SENU">3-12C-1620</span></a><span xml:space="preserve" class="s2033460SENU">. </span><span class="s2033460CL">Retirement benefits for certain city of Aberdeen employees.</span></p><p dir="ltr" class="s2033460Normal-000000"><span xml:space="preserve" class="s2033460DefaultParagraphFont">To determine the retirement benefits of Aberdeen ambulance attendants, campus security officers, and court services officers, for credited service earned prior to July 1, 1993, the benefits shall be calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1106"><span class="s2033460DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s2033460DefaultParagraphFont"> and for credited service after June 30, 1993, the benefits shall be calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033460DefaultParagraphFont">3-12C-1107</span></a><span class="s2033460DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033460Normal"><span xml:space="preserve" class="s2033460000001"> </span></p><p dir="ltr" class="s2033460Normal"><span class="s2033460SCL">Source:</span><span xml:space="preserve" class="s2033460SCL-000002"> SL 1993, ch 38, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-132"><span class="s2033460SCL-000002">3-12-132</span></a><span class="s2033460SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033461Normal { 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.s2033461SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033461CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033461Normal-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.s2033461DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033461000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033461SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033461SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033461Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1621"><span class="s2033461SENU">3-12C-1621</span></a><span xml:space="preserve" class="s2033461SENU">. </span><span class="s2033461CL">Aberdeen firefighters to participate in system.</span></p><p dir="ltr" class="s2033461Normal-000000"><span class="s2033461DefaultParagraphFont">On July 1, 1994, all members of the municipality of Aberdeen firemen's relief and pension fund on June 30, 1994, including all retirees and benefit recipients, shall become members of the system. Each individual shall receive credited service under the system for all service earned under the municipality of Aberdeen firemen's relief and pension fund.</span></p><p dir="ltr" class="s2033461Normal"><span xml:space="preserve" class="s2033461000001"> </span></p><p dir="ltr" class="s2033461Normal"><span class="s2033461SCL">Source:</span><span xml:space="preserve" class="s2033461SCL-000002"> SL 1994, ch 37, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-133"><span class="s2033461SCL-000002">3-12-133</span></a><span class="s2033461SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033462Normal { 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.s2033462SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033462CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033462Normal-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.s2033462DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033462000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033462SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033462SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033462Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1622"><span class="s2033462SENU">3-12C-1622</span></a><span xml:space="preserve" class="s2033462SENU">. </span><span class="s2033462CL">Eligible benefits for Aberdeen firefighters.</span></p><p dir="ltr" class="s2033462Normal-000000"><span xml:space="preserve" class="s2033462DefaultParagraphFont">Each individual described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1621"><span class="s2033462DefaultParagraphFont">3-12C-1621</span></a><span xml:space="preserve" class="s2033462DefaultParagraphFont"> shall receive the same benefit provided by the municipality of Aberdeen firemen's relief and pension fund on June 30, 1994, and the benefit shall be increased on July 1, 1994, and thereafter in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-703"><span class="s2033462DefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s2033462DefaultParagraphFont">. The benefits of the individuals described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1621"><span class="s2033462DefaultParagraphFont">3-12C-1621</span></a><span xml:space="preserve" class="s2033462DefaultParagraphFont"> who are entitled to receive benefits from the municipality of Aberdeen firemen's relief and pension fund as of July 1, 1994, shall be paid from the fund established by this chapter.</span></p><p dir="ltr" class="s2033462Normal"><span xml:space="preserve" class="s2033462000001"> </span></p><p dir="ltr" class="s2033462Normal"><span class="s2033462SCL">Source:</span><span xml:space="preserve" class="s2033462SCL-000002"> SL 1994, ch 37, § 2; SL 2017, ch 27, § 26; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-134"><span class="s2033462SCL-000002">3-12-134</span></a><span class="s2033462SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033463Normal { 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.s2033463SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033463CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033463Normal-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.s2033463DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033463000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033463SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033463SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033463Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1623"><span class="s2033463SENU">3-12C-1623</span></a><span xml:space="preserve" class="s2033463SENU">. </span><span class="s2033463CL">Amount to be paid by municipality of Aberdeen.</span></p><p dir="ltr" class="s2033463Normal-000000"><span xml:space="preserve" class="s2033463DefaultParagraphFont">The municipality of Aberdeen shall pay to the system an amount equal to the present value of all benefits earned by individuals described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1621"><span class="s2033463DefaultParagraphFont">3-12C-1621</span></a><span xml:space="preserve" class="s2033463DefaultParagraphFont"> up to July 1, 1994, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1992. That amount shall be determined on July 1, 1994, by the system's actuary. Any amount to be paid to the system by the municipality of Aberdeen which exceeds the value of the assets of the municipality of Aberdeen firemen's relief and pension fund, determined as of the date of transfer, shall be paid pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-308"><span class="s2033463DefaultParagraphFont">3-12C-308</span></a><span class="s2033463DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033463Normal"><span xml:space="preserve" class="s2033463000001"> </span></p><p dir="ltr" class="s2033463Normal"><span class="s2033463SCL">Source:</span><span xml:space="preserve" class="s2033463SCL-000002"> SL 1994, ch 37, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-135"><span class="s2033463SCL-000002">3-12-135</span></a><span class="s2033463SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s06b8bdd4e17a4c51bcda2d703dbe0ebbNormal { 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.s06b8bdd4e17a4c51bcda2d703dbe0ebbSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s06b8bdd4e17a4c51bcda2d703dbe0ebbCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s06b8bdd4e17a4c51bcda2d703dbe0ebbStatute { 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.s06b8bdd4e17a4c51bcda2d703dbe0ebbDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s06b8bdd4e17a4c51bcda2d703dbe0ebb000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s06b8bdd4e17a4c51bcda2d703dbe0ebbNoIndent { 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.s06b8bdd4e17a4c51bcda2d703dbe0ebbDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s06b8bdd4e17a4c51bcda2d703dbe0ebbSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1624 - Moneys from Aberdeen firemen s fund--Considered member contributions."><meta property="og:description" content="SDLRC Codified Law 3-12C-1624 - Moneys from Aberdeen firemen s fund--Considered member contributions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1624"><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="s06b8bdd4e17a4c51bcda2d703dbe0ebbNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1624" rel="noopener"><span class="s06b8bdd4e17a4c51bcda2d703dbe0ebbSENU">3-12C-1624</span></a><span xml:space="preserve" class="s06b8bdd4e17a4c51bcda2d703dbe0ebbSENU">. </span><span class="s06b8bdd4e17a4c51bcda2d703dbe0ebbCL">Moneys from Aberdeen firemen s fund--Considered member contributions.</span></p><p dir="ltr" class="s06b8bdd4e17a4c51bcda2d703dbe0ebbStatute"><span class="s06b8bdd4e17a4c51bcda2d703dbe0ebbDefaultParagraphFont">Any amount transferred to the system from the municipality of Aberdeen firemen's relief and pension fund, which under the fund was credited to the accounts of individual employees, is considered a member contribution.</span></p><p dir="ltr" class="s06b8bdd4e17a4c51bcda2d703dbe0ebbNormal"><span xml:space="preserve" class="s06b8bdd4e17a4c51bcda2d703dbe0ebb000000"> </span></p><p dir="ltr" class="s06b8bdd4e17a4c51bcda2d703dbe0ebbNoIndent"><span xml:space="preserve" class="s06b8bdd4e17a4c51bcda2d703dbe0ebbDefaultParagraphFont-000001">Source: </span><span class="s06b8bdd4e17a4c51bcda2d703dbe0ebbSCL">SL 1994, ch 37, § 4; SDCL § 3-12-136; SL 2019, ch 22, § 1; SL 2025, ch 27, § 64.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033465Normal { 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.s2033465SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033465CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033465Normal-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.s2033465DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033465000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033465SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033465SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033465Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1625"><span class="s2033465SENU">3-12C-1625</span></a><span xml:space="preserve" class="s2033465SENU">. </span><span class="s2033465CL">Watertown firefighters pension fund members--Credited service.</span></p><p dir="ltr" class="s2033465Normal-000000"><span class="s2033465DefaultParagraphFont">On July 1, 1995, all members of the city of Watertown firemen pension fund as of June 30, 1995, including all retirees and benefit recipients, shall become members of the system. Each individual shall receive credited service under the system for all service earned under the city of Watertown firemen pension fund.</span></p><p dir="ltr" class="s2033465Normal"><span xml:space="preserve" class="s2033465000001"> </span></p><p dir="ltr" class="s2033465Normal"><span class="s2033465SCL">Source:</span><span xml:space="preserve" class="s2033465SCL-000002"> SL 1995, ch 19, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62.10"><span class="s2033465SCL-000002">3-12-62.10</span></a><span class="s2033465SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033466Normal { 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.s2033466SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033466CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033466Normal-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.s2033466DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033466Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033466000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033466SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033466SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033466Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1626"><span class="s2033466SENU">3-12C-1626</span></a><span xml:space="preserve" class="s2033466SENU">. </span><span class="s2033466CL">Watertown firefighters benefits paid from the system--Minimum benefit.</span></p><p dir="ltr" class="s2033466Normal-000000"><span xml:space="preserve" class="s2033466DefaultParagraphFont">Each individual described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1625"><span class="s2033466DefaultParagraphFont">3-12C-1625</span></a><span xml:space="preserve" class="s2033466DefaultParagraphFont"> shall receive the same benefit under the form of annuity provided by the city of Watertown firemen pension fund in effect on June 30, 1995, which benefit shall be increased on July 1, 1995, and thereafter in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-703"><span class="s2033466DefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s2033466DefaultParagraphFont">. The benefits of individuals described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1625"><span class="s2033466DefaultParagraphFont">3-12C-1625</span></a><span xml:space="preserve" class="s2033466DefaultParagraphFont"> who are entitled to receive benefits from the city of Watertown firemen pension fund as of July 1, 1995, shall be paid from the fund established by this chapter and funded pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1627"><span class="s2033466DefaultParagraphFont">3-12C-1627</span></a><span xml:space="preserve" class="s2033466DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1628"><span class="s2033466DefaultParagraphFont">3-12C-1628</span></a><span class="s2033466DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033466Normal-000001"><span xml:space="preserve" class="s2033466DefaultParagraphFont">Firefighters who are not retired on July 1, 1994, are guaranteed a minimum benefit equal to the accrued benefit under the city of Watertown firemen pension fund as of July 1, 1994. If the minimum benefit is paid in lieu of a benefit under this chapter, the minimum benefit may not be increased annually as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-703"><span class="s2033466DefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s2033466DefaultParagraphFont"> and the member is not entitled to benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1114"><span class="s2033466DefaultParagraphFont">3-12C-1114</span></a><span xml:space="preserve" class="s2033466DefaultParagraphFont"> or subdivision 3-12C-901(4).</span></p><p dir="ltr" class="s2033466Normal"><span xml:space="preserve" class="s2033466000002"> </span></p><p dir="ltr" class="s2033466Normal"><span class="s2033466SCL">Source:</span><span xml:space="preserve" class="s2033466SCL-000003"> SL 1995, ch 19, § 2; SL 2017, ch 27, § 9; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62.11"><span class="s2033466SCL-000003">3-12-62.11</span></a><span class="s2033466SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033467Normal { 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.s2033467SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033467CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033467Normal-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.s2033467DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033467000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033467SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033467SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033467Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1627"><span class="s2033467SENU">3-12C-1627</span></a><span xml:space="preserve" class="s2033467SENU">. </span><span class="s2033467CL">Payments by Watertown.</span></p><p dir="ltr" class="s2033467Normal-000000"><span xml:space="preserve" class="s2033467DefaultParagraphFont">The city of Watertown shall pay to the system an amount equal to the present value of all benefits earned by individuals described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1625"><span class="s2033467DefaultParagraphFont">3-12C-1625</span></a><span xml:space="preserve" class="s2033467DefaultParagraphFont"> prior to July 1, 1995, and multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1994. The amount shall be determined on July 1, 1995, by the system's actuary. Any amount to be paid to the system by the city of Watertown which exceeds the value of the assets of the city of Watertown firemen pension fund, as determined as of the date of transfer, shall be paid pursuant to the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-308"><span class="s2033467DefaultParagraphFont">3-12C-308</span></a><span class="s2033467DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033467Normal"><span xml:space="preserve" class="s2033467000001"> </span></p><p dir="ltr" class="s2033467Normal"><span class="s2033467SCL">Source:</span><span xml:space="preserve" class="s2033467SCL-000002"> SL 1995, ch 19, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-62.12"><span class="s2033467SCL-000002">3-12-62.12</span></a><span class="s2033467SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s3a4370477aa84b65883c50999fb22497Normal { 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.s3a4370477aa84b65883c50999fb22497SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s3a4370477aa84b65883c50999fb22497CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s3a4370477aa84b65883c50999fb22497Statute { 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.s3a4370477aa84b65883c50999fb22497DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s3a4370477aa84b65883c50999fb22497000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s3a4370477aa84b65883c50999fb22497NoIndent { 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.s3a4370477aa84b65883c50999fb22497DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s3a4370477aa84b65883c50999fb22497SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1628 - Moneys from Watertown firemen s fund--Considered member contributions."><meta property="og:description" content="SDLRC Codified Law 3-12C-1628 - Moneys from Watertown firemen s fund--Considered member contributions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1628"><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="s3a4370477aa84b65883c50999fb22497Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1628" rel="noopener"><span class="s3a4370477aa84b65883c50999fb22497SENU">3-12C-1628</span></a><span xml:space="preserve" class="s3a4370477aa84b65883c50999fb22497SENU">. </span><span class="s3a4370477aa84b65883c50999fb22497CL">Moneys from Watertown firemen s fund--Considered member contributions.</span></p><p dir="ltr" class="s3a4370477aa84b65883c50999fb22497Statute"><span class="s3a4370477aa84b65883c50999fb22497DefaultParagraphFont">Any amount transferred to the system from the city of Watertown firemen pension fund, which under the fund was credited to the accounts of individual employees, is considered a member contribution.</span></p><p dir="ltr" class="s3a4370477aa84b65883c50999fb22497Normal"><span xml:space="preserve" class="s3a4370477aa84b65883c50999fb22497000000"> </span></p><p dir="ltr" class="s3a4370477aa84b65883c50999fb22497NoIndent"><span xml:space="preserve" class="s3a4370477aa84b65883c50999fb22497DefaultParagraphFont-000001">Source: </span><span class="s3a4370477aa84b65883c50999fb22497SCL">SL 1995, ch 19, § 4; SDCL § 3-12-62.13; SL 2019, ch 22, § 1; SL 2025, ch 27, § 65.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033469Normal { 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.s2033469SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033469CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033469Normal-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.s2033469DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033469000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033469SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033469SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033469Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1629"><span class="s2033469SENU">3-12C-1629</span></a><span xml:space="preserve" class="s2033469SENU">. </span><span class="s2033469CL">Mitchell firefighters as members of system.</span></p><p dir="ltr" class="s2033469Normal-000000"><span class="s2033469DefaultParagraphFont">On July 1, 1996, all members of the City of Mitchell firemen's pension plan as of June 30, 1996, including all retirees, vested inactive members, and benefit recipients, shall become members of the system. Each member shall receive credited service under the system for all service earned under the City of Mitchell firemen's pension plan.</span></p><p dir="ltr" class="s2033469Normal"><span xml:space="preserve" class="s2033469000001"> </span></p><p dir="ltr" class="s2033469Normal"><span class="s2033469SCL">Source:</span><span xml:space="preserve" class="s2033469SCL-000002"> SL 1996, ch 28, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-153"><span class="s2033469SCL-000002">3-12-153</span></a><span class="s2033469SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033470Normal { 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.s2033470SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033470CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033470Normal-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.s2033470DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033470000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033470SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033470SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033470Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1630"><span class="s2033470SENU">3-12C-1630</span></a><span xml:space="preserve" class="s2033470SENU">. </span><span class="s2033470CL">Benefits for Mitchell firefighters.</span></p><p dir="ltr" class="s2033470Normal-000000"><span xml:space="preserve" class="s2033470DefaultParagraphFont">Each retired member or benefit recipient described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1629"><span class="s2033470DefaultParagraphFont">3-12C-1629</span></a><span xml:space="preserve" class="s2033470DefaultParagraphFont"> shall receive the same benefit under the form of annuity provided by the city of Mitchell firemen's pension plan as in effect on June 30, 1996, except for the COLA. Each benefit shall be increased on July 1, 2008, and thereafter by the system's COLA. The benefits of members described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1629"><span class="s2033470DefaultParagraphFont">3-12C-1629</span></a><span xml:space="preserve" class="s2033470DefaultParagraphFont"> who are entitled to receive benefits from the city of Mitchell firemen's pension plan as of July 1, 1996, shall be paid from the fund established by this chapter.</span></p><p dir="ltr" class="s2033470Normal"><span xml:space="preserve" class="s2033470000001"> </span></p><p dir="ltr" class="s2033470Normal"><span class="s2033470SCL">Source:</span><span xml:space="preserve" class="s2033470SCL-000002"> SL 1996, ch 28, § 2; SL 2008, ch 26, § 1; SL 2010, ch 20, § 14; SL 2017, ch 27, § 28; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-154"><span class="s2033470SCL-000002">3-12-154</span></a><span class="s2033470SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033471Normal { 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.s2033471SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033471CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033471Normal-000000 { 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.s2033471DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033471Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033471Normal-000002 { text-indent: 0.25in; 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.s2033471000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033471SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033471SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033471Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1631"><span class="s2033471SENU">3-12C-1631</span></a><span xml:space="preserve" class="s2033471SENU">. </span><span class="s2033471CL">Calculation of Mitchell firefighter benefits.</span></p><p dir="ltr" class="s2033471Normal-000000"><span xml:space="preserve" class="s2033471DefaultParagraphFont">Upon retirement, each member described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1629"><span class="s2033471DefaultParagraphFont">3-12C-1629</span></a><span xml:space="preserve" class="s2033471DefaultParagraphFont"> who is a vested inactive member on July 1, 1996, or an active firefighter in the employ of the city of Mitchell on July 1, 1996, shall receive the greater of:</span></p><p dir="ltr" class="s2033471Normal-000001"><span class="s2033471DefaultParagraphFont">(1)    The member's retirement benefit calculated under this chapter; or</span></p><p dir="ltr" class="s2033471Normal-000001"><span xml:space="preserve" class="s2033471DefaultParagraphFont">(2)    The member's retirement benefit calculated under the city of Mitchell firemen's pension plan based on credited service up to June 30, 1996, and compensation up to June 30, 1996, and utilizing the plan's benefit terms and benefit formula, but applying the system's COLA, as specified in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1630"><span class="s2033471DefaultParagraphFont">3-12C-1630</span></a><span class="s2033471DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033471Normal-000002"><span class="s2033471DefaultParagraphFont">In either case, the retirement benefit shall be paid from the fund established by this chapter.</span></p><p dir="ltr" class="s2033471Normal"><span xml:space="preserve" class="s2033471000003"> </span></p><p dir="ltr" class="s2033471Normal"><span class="s2033471SCL">Source:</span><span xml:space="preserve" class="s2033471SCL-000004"> SL 1996, ch 28, § 3; SL 2008, ch 26, § 2; SL 2017, ch 27, § 29; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-155"><span class="s2033471SCL-000004">3-12-155</span></a><span class="s2033471SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033472Normal { 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.s2033472SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033472CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033472Normal-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.s2033472DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033472000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033472SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033472SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033472Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1632"><span class="s2033472SENU">3-12C-1632</span></a><span xml:space="preserve" class="s2033472SENU">. </span><span class="s2033472CL">Amount of payment to system by city of Mitchell.</span></p><p dir="ltr" class="s2033472Normal-000000"><span xml:space="preserve" class="s2033472DefaultParagraphFont">The city of Mitchell shall pay to the system an amount equal to the present value of all benefits earned by the members described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1629"><span class="s2033472DefaultParagraphFont">3-12C-1629</span></a><span xml:space="preserve" class="s2033472DefaultParagraphFont"> up to July 1, 1996, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1996. That amount shall be calculated as of the close of business on June 30, 1996, by the system's actuary. Any amount to be paid to the system by the city of Mitchell which exceeds the value of the assets of the city of Mitchell firemen's pension plan, calculated as of the date of transfer of such assets, may be paid in periodic installments as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-308"><span class="s2033472DefaultParagraphFont">3-12C-308</span></a><span class="s2033472DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033472Normal"><span xml:space="preserve" class="s2033472000001"> </span></p><p dir="ltr" class="s2033472Normal"><span class="s2033472SCL">Source:</span><span xml:space="preserve" class="s2033472SCL-000002"> SL 1996, ch 28, § 4; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-156"><span class="s2033472SCL-000002">3-12-156</span></a><span class="s2033472SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s275a98972e7443deb0d04fa2256a626cNormal { 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.s275a98972e7443deb0d04fa2256a626cSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s275a98972e7443deb0d04fa2256a626cCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s275a98972e7443deb0d04fa2256a626cStatute { 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.s275a98972e7443deb0d04fa2256a626cDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s275a98972e7443deb0d04fa2256a626c000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s275a98972e7443deb0d04fa2256a626cNoIndent { 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.s275a98972e7443deb0d04fa2256a626cDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s275a98972e7443deb0d04fa2256a626cSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1633 - Moneys from Mitchell firemen's fund--Considered member contributions."><meta property="og:description" content="SDLRC Codified Law 3-12C-1633 - Moneys from Mitchell firemen's fund--Considered member contributions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1633"><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="s275a98972e7443deb0d04fa2256a626cNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1633" rel="noopener"><span class="s275a98972e7443deb0d04fa2256a626cSENU">3-12C-1633</span></a><span xml:space="preserve" class="s275a98972e7443deb0d04fa2256a626cSENU">. </span><span class="s275a98972e7443deb0d04fa2256a626cCL">Moneys from Mitchell firemen's fund--Considered member contributions.</span></p><p dir="ltr" class="s275a98972e7443deb0d04fa2256a626cStatute"><span class="s275a98972e7443deb0d04fa2256a626cDefaultParagraphFont">Any amount transferred to the system from the city of Mitchell firemen's pension plan, which under the plan was credited to the accounts of individual employees, is considered a member contribution.</span></p><p dir="ltr" class="s275a98972e7443deb0d04fa2256a626cNormal"><span xml:space="preserve" class="s275a98972e7443deb0d04fa2256a626c000000"> </span></p><p dir="ltr" class="s275a98972e7443deb0d04fa2256a626cNoIndent"><span xml:space="preserve" class="s275a98972e7443deb0d04fa2256a626cDefaultParagraphFont-000001">Source: </span><span class="s275a98972e7443deb0d04fa2256a626cSCL">SL 1996, ch 28, § 5; SDCL § 3-12-157; SL 2019, ch 22, § 1; SL 2025, ch 27, § 66.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2083190Normal { 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.s2083190SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083190CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083190Statute { 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.s2083190DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083190StatuteNumber1 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2083190000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083190NoIndent { 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.s2083190DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083190SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1634 - Information required of city of Mitchell."><meta property="og:description" content="SDLRC Codified Law 3-12C-1634 - Information required of city of Mitchell."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1634"><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="s2083190Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1634" rel="noopener"><span class="s2083190SENU">3-12C-1634</span></a><span xml:space="preserve" class="s2083190SENU">. </span><span xml:space="preserve" class="s2083190CL">Information required of city of Mitchell. </span></p><p dir="ltr" class="s2083190Statute"><span xml:space="preserve" class="s2083190DefaultParagraphFont">For purposes of payment of retiree benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1630" rel="noopener"><span class="s2083190DefaultParagraphFont">3-12C-1630</span></a><span xml:space="preserve" class="s2083190DefaultParagraphFont"> and to calculate the minimum benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1631" rel="noopener"><span class="s2083190DefaultParagraphFont">3-12C-1631</span></a><span class="s2083190DefaultParagraphFont">, the city of Mitchell shall provide the following information:</span></p><p dir="ltr" class="s2083190StatuteNumber1"><span class="s2083190DefaultParagraphFont">(1)    Each retired firefighter's benefit as of June 30, 1996, plus that benefits' COLA;</span></p><p dir="ltr" class="s2083190StatuteNumber1"><span class="s2083190DefaultParagraphFont">(2)    Each active or inactive vested firefighter's accrued benefit as of June 30, 1996;</span></p><p dir="ltr" class="s2083190StatuteNumber1"><span class="s2083190DefaultParagraphFont">(3)    Each active firefighter's final average compensation as of June 30, 1996;</span></p><p dir="ltr" class="s2083190StatuteNumber1"><span class="s2083190DefaultParagraphFont">(4)    Each active firefighter's credited service as of June 30, 1996;</span></p><p dir="ltr" class="s2083190StatuteNumber1"><span class="s2083190DefaultParagraphFont">(5)    Each active firefighter's employee contributions, with interest credited thereon, as of June 30, 1996; and</span></p><p dir="ltr" class="s2083190StatuteNumber1"><span class="s2083190DefaultParagraphFont">(6)    The annual rate of salary for a first-class firefighter as of June 30, 1996.</span></p><p dir="ltr" class="s2083190Normal"><span xml:space="preserve" class="s2083190000000"> </span></p><p dir="ltr" class="s2083190NoIndent"><span xml:space="preserve" class="s2083190DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083190SCL">SL 1996, ch 28, § 6; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-158" rel="noopener"><span class="s2083190SCL">3-12-158</span></a><span class="s2083190SCL">; SL 2019, ch 22, § 1; SL 2021, ch 26, § 9.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033475Normal { 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.s2033475SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033475CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033475Normal-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.s2033475DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033475000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033475SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033475SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033475Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1635"><span class="s2033475SENU">3-12C-1635</span></a><span xml:space="preserve" class="s2033475SENU">. </span><span class="s2033475CL">Huron firefighters as members of system.</span></p><p dir="ltr" class="s2033475Normal-000000"><span class="s2033475DefaultParagraphFont">On July 1, 1998, all members of the city of Huron firemen pension fund as of June 30, 1998, including all retirees, any deferred vested members and any benefit recipients, shall become members of the system. Each active member shall receive credited service under the system for all service earned under the city of Huron firemen pension fund.</span></p><p dir="ltr" class="s2033475Normal"><span xml:space="preserve" class="s2033475000001"> </span></p><p dir="ltr" class="s2033475Normal"><span class="s2033475SCL">Source:</span><span xml:space="preserve" class="s2033475SCL-000002"> SL 1998, ch 22, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-159"><span class="s2033475SCL-000002">3-12-159</span></a><span class="s2033475SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033476Normal { 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.s2033476SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033476CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033476Normal-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.s2033476DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033476000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033476SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033476SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033476Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1636"><span class="s2033476SENU">3-12C-1636</span></a><span xml:space="preserve" class="s2033476SENU">. </span><span class="s2033476CL">Benefits for Huron firefighters.</span></p><p dir="ltr" class="s2033476Normal-000000"><span xml:space="preserve" class="s2033476DefaultParagraphFont">Each retired member, any benefit recipient, or any deferred vested member described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1635"><span class="s2033476DefaultParagraphFont">3-12C-1635</span></a><span xml:space="preserve" class="s2033476DefaultParagraphFont"> and in such status before July 1, 1998, shall receive the member's previously selected annuity option as provided under the city of Huron firemen pension fund as in effect on June 30, 1998, but is not eligible for a benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1114"><span class="s2033476DefaultParagraphFont">3-12C-1114</span></a><span xml:space="preserve" class="s2033476DefaultParagraphFont">. Each such benefit in effect before July 1, 1998, shall be increased on that date and thereafter in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-703"><span class="s2033476DefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s2033476DefaultParagraphFont">. The retirement benefit of a deferred vested member that goes into effect after July 1, 1998, shall be increased in accordance with § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-703"><span class="s2033476DefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s2033476DefaultParagraphFont">, but the member's final average compensation may not be increased before retirement by the COLA pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-601"><span class="s2033476DefaultParagraphFont">3-12C-601</span></a><span xml:space="preserve" class="s2033476DefaultParagraphFont">. The benefits of members described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1635"><span class="s2033476DefaultParagraphFont">3-12C-1635</span></a><span xml:space="preserve" class="s2033476DefaultParagraphFont"> who are entitled to receive benefits from the city of Huron firemen pension fund before July 1, 1998, shall be paid from the fund established by this chapter and funded pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1638"><span class="s2033476DefaultParagraphFont">3-12C-1638</span></a><span class="s2033476DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033476Normal"><span xml:space="preserve" class="s2033476000001"> </span></p><p dir="ltr" class="s2033476Normal"><span class="s2033476SCL">Source:</span><span xml:space="preserve" class="s2033476SCL-000002"> SL 1998, ch 22, § 2; SL 2004, ch 40, § 11; SL 2017, ch 27, § 30; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-160"><span class="s2033476SCL-000002">3-12-160</span></a><span class="s2033476SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033477Normal { 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.s2033477SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033477CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033477Normal-000000 { 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.s2033477DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033477Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033477Normal-000002 { text-indent: 0.25in; 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.s2033477000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033477SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033477SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033477Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1637"><span class="s2033477SENU">3-12C-1637</span></a><span xml:space="preserve" class="s2033477SENU">. </span><span class="s2033477CL">Calculation of Huron firefighter benefits.</span></p><p dir="ltr" class="s2033477Normal-000000"><span xml:space="preserve" class="s2033477DefaultParagraphFont">Upon retirement, each member described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1635"><span class="s2033477DefaultParagraphFont">3-12C-1635</span></a><span xml:space="preserve" class="s2033477DefaultParagraphFont"> who is an active firefighter in the employ of the city of Huron on July 1, 1998, shall receive the greater of:</span></p><p dir="ltr" class="s2033477Normal-000001"><span class="s2033477DefaultParagraphFont">(1)    The member's retirement benefit calculated under this chapter; or</span></p><p dir="ltr" class="s2033477Normal-000001"><span class="s2033477DefaultParagraphFont">(2)    The member's retirement benefit calculated under the city of Huron firemen pension fund based on credited service up to June 30, 1998, and compensation up to June 30, 1998, and utilizing the fund's benefit terms and benefit formula.</span></p><p dir="ltr" class="s2033477Normal-000002"><span xml:space="preserve" class="s2033477DefaultParagraphFont">In either case, such retirement benefit shall be increased in accordance with the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-703"><span class="s2033477DefaultParagraphFont">3-12C-703</span></a><span xml:space="preserve" class="s2033477DefaultParagraphFont">, shall be paid from the fund established by this chapter and shall be funded pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1638"><span class="s2033477DefaultParagraphFont">3-12C-1638</span></a><span xml:space="preserve" class="s2033477DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-401"><span class="s2033477DefaultParagraphFont">3-12C-401</span></a><span xml:space="preserve" class="s2033477DefaultParagraphFont">. Any benefit granted pursuant to subdivision (2) may not include a benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1114"><span class="s2033477DefaultParagraphFont">3-12C-1114</span></a><span class="s2033477DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033477Normal"><span xml:space="preserve" class="s2033477000003"> </span></p><p dir="ltr" class="s2033477Normal"><span class="s2033477SCL">Source:</span><span xml:space="preserve" class="s2033477SCL-000004"> SL 1998, ch 22, § 3; SL 2017, ch 27, § 31; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-161"><span class="s2033477SCL-000004">3-12-161</span></a><span class="s2033477SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033478Normal { 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.s2033478SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033478CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033478Normal-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.s2033478DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033478000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033478SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033478SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033478Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1638"><span class="s2033478SENU">3-12C-1638</span></a><span xml:space="preserve" class="s2033478SENU">. </span><span class="s2033478CL">Amount of payment to system by City of Huron.</span></p><p dir="ltr" class="s2033478Normal-000000"><span xml:space="preserve" class="s2033478DefaultParagraphFont">The city of Huron shall pay to the system an amount equal to the present value of all benefits earned by the members described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1635"><span class="s2033478DefaultParagraphFont">3-12C-1635</span></a><span xml:space="preserve" class="s2033478DefaultParagraphFont"> up to July 1, 1998, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of the system as of June 30, 1998. That amount shall be calculated as of the close of business on June 30, 1998, by the system's actuary. Any amount to be paid to the system by the city of Huron which exceeds the value of the assets of the city of Huron firemen pension fund, calculated as of the date of transfer of such assets, may be paid in periodic installments as provided in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-308"><span class="s2033478DefaultParagraphFont">3-12C-308</span></a><span class="s2033478DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033478Normal"><span xml:space="preserve" class="s2033478000001"> </span></p><p dir="ltr" class="s2033478Normal"><span class="s2033478SCL">Source:</span><span xml:space="preserve" class="s2033478SCL-000002"> SL 1998, ch 22, § 4; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-162"><span class="s2033478SCL-000002">3-12-162</span></a><span class="s2033478SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s9c06c520cf7f42e1864fceea0d46ee05Normal { 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.s9c06c520cf7f42e1864fceea0d46ee05SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9c06c520cf7f42e1864fceea0d46ee05CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s9c06c520cf7f42e1864fceea0d46ee05Statute { 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.s9c06c520cf7f42e1864fceea0d46ee05DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s9c06c520cf7f42e1864fceea0d46ee05000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s9c06c520cf7f42e1864fceea0d46ee05NoIndent { 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.s9c06c520cf7f42e1864fceea0d46ee05DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s9c06c520cf7f42e1864fceea0d46ee05SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1639 - Moneys from Huron firemen's fund--Considered member contributions."><meta property="og:description" content="SDLRC Codified Law 3-12C-1639 - Moneys from Huron firemen's fund--Considered member contributions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1639"><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="s9c06c520cf7f42e1864fceea0d46ee05Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1639" rel="noopener"><span class="s9c06c520cf7f42e1864fceea0d46ee05SENU">3-12C-1639</span></a><span xml:space="preserve" class="s9c06c520cf7f42e1864fceea0d46ee05SENU">. </span><span class="s9c06c520cf7f42e1864fceea0d46ee05CL">Moneys from Huron firemen's fund--Considered member contributions.</span></p><p dir="ltr" class="s9c06c520cf7f42e1864fceea0d46ee05Statute"><span class="s9c06c520cf7f42e1864fceea0d46ee05DefaultParagraphFont">Any amount transferred to the system from the city of Huron firemen pension fund, which under the fund was credited to the accounts of individual members, is considered a member contribution.</span></p><p dir="ltr" class="s9c06c520cf7f42e1864fceea0d46ee05Normal"><span xml:space="preserve" class="s9c06c520cf7f42e1864fceea0d46ee05000000"> </span></p><p dir="ltr" class="s9c06c520cf7f42e1864fceea0d46ee05NoIndent"><span xml:space="preserve" class="s9c06c520cf7f42e1864fceea0d46ee05DefaultParagraphFont-000001">Source: </span><span class="s9c06c520cf7f42e1864fceea0d46ee05SCL">SL 1998, ch 22, § 5; SDCL § 3-12-163; SL 2019, ch 22, § 1; SL 2025, ch 27, § 67.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033480Normal { 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.s2033480SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033480CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033480Normal-000000 { 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.s2033480DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033480Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033480000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033480SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033480SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033480Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1640"><span class="s2033480SENU">3-12C-1640</span></a><span xml:space="preserve" class="s2033480SENU">. </span><span class="s2033480CL">Information required of city of Huron.</span></p><p dir="ltr" class="s2033480Normal-000000"><span xml:space="preserve" class="s2033480DefaultParagraphFont">For purposes of payment of retirement or other benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1636"><span class="s2033480DefaultParagraphFont">3-12C-1636</span></a><span xml:space="preserve" class="s2033480DefaultParagraphFont"> and to calculate the minimum benefit pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1637"><span class="s2033480DefaultParagraphFont">3-12C-1637</span></a><span class="s2033480DefaultParagraphFont">, the city of Huron shall provide the following information:</span></p><p dir="ltr" class="s2033480Normal-000001"><span class="s2033480DefaultParagraphFont">(1)    Each retired firefighter's benefit and form of payment as of June 30, 1998;</span></p><p dir="ltr" class="s2033480Normal-000001"><span class="s2033480DefaultParagraphFont">(2)    Each active or deferred vested firefighter's accrued benefit as of June 30, 1998;</span></p><p dir="ltr" class="s2033480Normal-000001"><span class="s2033480DefaultParagraphFont">(3)    Each active firefighter's final average compensation as of June 30, 1998.</span></p><p dir="ltr" class="s2033480Normal-000001"><span class="s2033480DefaultParagraphFont">(4)    Each active firefighter's credited service as of June 30, 1998;</span></p><p dir="ltr" class="s2033480Normal-000001"><span class="s2033480DefaultParagraphFont">(5)    Each active firefighter's employee contributions, with interest credited thereon as of June 30, 1998; and</span></p><p dir="ltr" class="s2033480Normal-000001"><span class="s2033480DefaultParagraphFont">(6)    The annual rate of salary for a first-class firefighter as of June 30, 1998.</span></p><p dir="ltr" class="s2033480Normal"><span xml:space="preserve" class="s2033480000002"> </span></p><p dir="ltr" class="s2033480Normal"><span class="s2033480SCL">Source:</span><span xml:space="preserve" class="s2033480SCL-000003"> SL 1998, ch 22, § 6; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-164"><span class="s2033480SCL-000003">3-12-164</span></a><span class="s2033480SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2083204Normal { 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.s2083204SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083204CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2083204Statute { 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.s2083204DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2083204000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2083204NoIndent { 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.s2083204DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2083204SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2083204Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1641"><span class="s2083204SENU">3-12C-1641</span></a><span xml:space="preserve" class="s2083204SENU">. </span><span xml:space="preserve" class="s2083204CL">Election by municipality of Sioux Falls to be participating unit. </span></p><p dir="ltr" class="s2083204Statute"><span xml:space="preserve" class="s2083204DefaultParagraphFont">Notwithstanding the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-306"><span class="s2083204DefaultParagraphFont">3-12C-306</span></a><span class="s2083204DefaultParagraphFont">, any employee of the municipality of Sioux Falls who begins working after June 30, 2013, as a full-time employee shall be a member of the system if the municipality of Sioux Falls elects to be a participating unit by a duly passed resolution of its governing body.</span></p><p dir="ltr" class="s2083204Normal"><span xml:space="preserve" class="s2083204000000"> </span></p><p dir="ltr" class="s2083204NoIndent"><span xml:space="preserve" class="s2083204DefaultParagraphFont-000001">Source: </span><span xml:space="preserve" class="s2083204SCL">SL 2013, ch 19, § 1; SL 2016, ch 31, § 8; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-67.1"><span class="s2083204SCL">3-12-67.1</span></a><span class="s2083204SCL">; SL 2019, ch 22, § 1; SL 2021, ch 29, § 14, eff. Apr. 1, 2021.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033482Normal { 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.s2033482SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033482CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033482Normal-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.s2033482DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033482000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033482SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033482SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033482Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1642"><span class="s2033482SENU">3-12C-1642</span></a><span xml:space="preserve" class="s2033482SENU">. </span><span class="s2033482CL">Transfer of funds in cement plan retirement fund.</span></p><p dir="ltr" class="s2033482Normal-000000"><span class="s2033482DefaultParagraphFont">Upon receipt of the appropriation pursuant to SL 2014, ch 21, § 1, the state treasurer shall transfer the balance of the funds of the cement plant retirement fund to the South Dakota Retirement System trust fund.</span></p><p dir="ltr" class="s2033482Normal"><span xml:space="preserve" class="s2033482000001"> </span></p><p dir="ltr" class="s2033482Normal"><span class="s2033482SCL">Source:</span><span xml:space="preserve" class="s2033482SCL-000002"> SL 2014, ch 21, § 2, eff. Apr. 1, 2014; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-217"><span class="s2033482SCL-000002">3-12-217</span></a><span xml:space="preserve" class="s2033482SCL-000002"> SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033483Normal { 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.s2033483SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033483CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033483Normal-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.s2033483DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033483000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033483SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033483SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033483Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1643"><span class="s2033483SENU">3-12C-1643</span></a><span xml:space="preserve" class="s2033483SENU">. </span><span class="s2033483CL">Members of cement plant retirement plan to be Class C members of system.</span></p><p dir="ltr" class="s2033483Normal-000000"><span class="s2033483DefaultParagraphFont">On April 1, 2014, all members of the cement plant retirement plan, including any retiree and any vested member, become Class C members of the system. The administration of retirement benefits for Class C members shall continue with the system.</span></p><p dir="ltr" class="s2033483Normal"><span xml:space="preserve" class="s2033483000001"> </span></p><p dir="ltr" class="s2033483Normal"><span class="s2033483SCL">Source:</span><span xml:space="preserve" class="s2033483SCL-000002"> SL 2014, ch 21, § 3, eff. Apr. 1, 2014; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-218"><span class="s2033483SCL-000002">3-12-218</span></a><span class="s2033483SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033484Normal { 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.s2033484SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033484CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033484Normal-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.s2033484DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033484000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033484SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033484SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033484Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1644"><span class="s2033484SENU">3-12C-1644</span></a><span xml:space="preserve" class="s2033484SENU">. </span><span class="s2033484CL">Class C members to receive benefits as provided under cement plant retirement plan.</span></p><p dir="ltr" class="s2033484Normal-000000"><span xml:space="preserve" class="s2033484DefaultParagraphFont">Each Class C member shall receive the same benefit as provided pursuant to the member's respective cement plant retirement plan as in effect on June 30, 2013. The benefits of any Class C member and the member's beneficiaries shall be paid from the fund established by this chapter and funded pursuant to SL 2014, ch 21, § 1 and § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1642"><span class="s2033484DefaultParagraphFont">3-12C-1642</span></a><span class="s2033484DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033484Normal"><span xml:space="preserve" class="s2033484000001"> </span></p><p dir="ltr" class="s2033484Normal"><span class="s2033484SCL">Source:</span><span xml:space="preserve" class="s2033484SCL-000002"> SL 2014, ch 21, § 4, eff. Apr. 1, 2014; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-219"><span class="s2033484SCL-000002">3-12-219</span></a><span class="s2033484SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s68c6ede39b284adcbc60fcb146ab4a18Normal { 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.s68c6ede39b284adcbc60fcb146ab4a18SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s68c6ede39b284adcbc60fcb146ab4a18CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s68c6ede39b284adcbc60fcb146ab4a18Statute { 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.s68c6ede39b284adcbc60fcb146ab4a18DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s68c6ede39b284adcbc60fcb146ab4a18000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s68c6ede39b284adcbc60fcb146ab4a18NoIndent { 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.s68c6ede39b284adcbc60fcb146ab4a18DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s68c6ede39b284adcbc60fcb146ab4a18SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1645 - Moneys from cement plant retirement fund--Considered member contributions."><meta property="og:description" content="SDLRC Codified Law 3-12C-1645 - Moneys from cement plant retirement fund--Considered member contributions."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1645"><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="s68c6ede39b284adcbc60fcb146ab4a18Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1645" rel="noopener"><span class="s68c6ede39b284adcbc60fcb146ab4a18SENU">3-12C-1645</span></a><span xml:space="preserve" class="s68c6ede39b284adcbc60fcb146ab4a18SENU">. </span><span class="s68c6ede39b284adcbc60fcb146ab4a18CL">Moneys from cement plant retirement fund--Considered member contributions.</span></p><p dir="ltr" class="s68c6ede39b284adcbc60fcb146ab4a18Statute"><span xml:space="preserve" class="s68c6ede39b284adcbc60fcb146ab4a18DefaultParagraphFont">Any amount transferred to the system from the cement plant retirement fund pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1642" rel="noopener"><span class="s68c6ede39b284adcbc60fcb146ab4a18DefaultParagraphFont">3-12C-1642</span></a><span class="s68c6ede39b284adcbc60fcb146ab4a18DefaultParagraphFont">, which under the cement plant retirement plan was credited to the accounts of individual members, is considered a member contribution.</span></p><p dir="ltr" class="s68c6ede39b284adcbc60fcb146ab4a18Normal"><span xml:space="preserve" class="s68c6ede39b284adcbc60fcb146ab4a18000000"> </span></p><p dir="ltr" class="s68c6ede39b284adcbc60fcb146ab4a18NoIndent"><span xml:space="preserve" class="s68c6ede39b284adcbc60fcb146ab4a18DefaultParagraphFont-000001">Source: </span><span class="s68c6ede39b284adcbc60fcb146ab4a18SCL">SL 2014, ch 21, § 5, eff. Apr. 1, 2014; SDCL § 3-12-220; SL 2019, ch 22, § 1; SL 2025, ch 27, § 68.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033486Normal { 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.s2033486SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033486CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033486Normal-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.s2033486DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033486000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033486SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033486SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033486Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1646"><span class="s2033486SENU">3-12C-1646</span></a><span xml:space="preserve" class="s2033486SENU">. </span><span class="s2033486CL">Payment of benefits and operational expenses related to Class C members.</span></p><p dir="ltr" class="s2033486Normal-000000"><span xml:space="preserve" class="s2033486DefaultParagraphFont">Notwithstanding the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-210"><span class="s2033486DefaultParagraphFont">3-12C-210</span></a><span class="s2033486DefaultParagraphFont">, any benefit payments and any operational expenses related to Class C members shall be paid from the fund established by this chapter.</span></p><p dir="ltr" class="s2033486Normal"><span xml:space="preserve" class="s2033486000001"> </span></p><p dir="ltr" class="s2033486Normal"><span class="s2033486SCL">Source:</span><span xml:space="preserve" class="s2033486SCL-000002"> SL 2014, ch 21, § 6, eff. Apr. 1, 2014; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-221"><span class="s2033486SCL-000002">3-12-221</span></a><span class="s2033486SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033487Normal { 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.s2033487SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033487CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033487Normal-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.s2033487DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033487000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033487SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033487SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033487Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1647"><span class="s2033487SENU">3-12C-1647</span></a><span xml:space="preserve" class="s2033487SENU">. </span><span class="s2033487CL">Promulgation of rules to administer retirement benefits for Class C members.</span></p><p dir="ltr" class="s2033487Normal-000000"><span xml:space="preserve" class="s2033487DefaultParagraphFont">The board may, pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2033487DefaultParagraphFont">1-26</span></a><span class="s2033487DefaultParagraphFont">, adopt rules to establish uniform procedures for the administration of the retirement benefits of Class C members.</span></p><p dir="ltr" class="s2033487Normal"><span xml:space="preserve" class="s2033487000001"> </span></p><p dir="ltr" class="s2033487Normal"><span class="s2033487SCL">Source:</span><span xml:space="preserve" class="s2033487SCL-000002"> SL 2014, ch 21, § 7, eff. Apr. 1, 2014; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-222"><span class="s2033487SCL-000002">3-12-222</span></a><span class="s2033487SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033488Normal { 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.s2033488SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033488CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033488Normal-000000 { 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.s2033488DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033488Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033488Normal-000002 { text-indent: 0.25in; 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.s2033488000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033488SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033488SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033488Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1648"><span class="s2033488SENU">3-12C-1648</span></a><span xml:space="preserve" class="s2033488SENU">. </span><span class="s2033488CL">Member election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.</span></p><p dir="ltr" class="s2033488Normal-000000"><span class="s2033488DefaultParagraphFont">Any vested member of the state cement plant retirement plan may elect to receive a lump sum trustee-to-trustee payment in lieu of monthly retirement benefit payments. The amount of the lump sum trustee-to-trustee payment shall be determined by the system's actuary based on the actuarial equivalent of the member's benefit as defined by the cement plant retirement plan. However, no lump sum trustee-to-trustee payment may be made unless both of the following requirements are satisfied:</span></p><p dir="ltr" class="s2033488Normal-000001"><span class="s2033488DefaultParagraphFont">(1)    The member has not received any monthly benefits; and</span></p><p dir="ltr" class="s2033488Normal-000001"><span class="s2033488DefaultParagraphFont">(2)    The member directs a trustee-to-trustee transfer of the lump sum payment to a receiving retirement custodian, trustee, or other approved recipient.</span></p><p dir="ltr" class="s2033488Normal-000002"><span class="s2033488DefaultParagraphFont">Any eligible member who desires to make the election authorized by this section shall submit an application to the system.</span></p><p dir="ltr" class="s2033488Normal"><span xml:space="preserve" class="s2033488000003"> </span></p><p dir="ltr" class="s2033488Normal"><span class="s2033488SCL">Source:</span><span xml:space="preserve" class="s2033488SCL-000004"> SL 2014, ch 22, § 1; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-223"><span class="s2033488SCL-000004">3-12-223</span></a><span class="s2033488SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033489Normal { 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.s2033489SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033489CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033489Normal-000000 { 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.s2033489DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033489Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033489Normal-000002 { text-indent: 0.25in; 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.s2033489000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033489SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033489SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033489Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1649"><span class="s2033489SENU">3-12C-1649</span></a><span xml:space="preserve" class="s2033489SENU">. </span><span class="s2033489CL">Surviving spouse election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.</span></p><p dir="ltr" class="s2033489Normal-000000"><span class="s2033489DefaultParagraphFont">Upon the death of a vested member of the state cement plant retirement plan who died prior to starting a monthly retirement benefit, the member's surviving spouse may elect a lump sum trustee-to-trustee payment in lieu of monthly surviving spouse benefit payments. The amount of the lump sum trustee-to-trustee payment shall be determined by the system's actuary based on the actuarial equivalent, as defined by the cement plant retirement plan, of the spouse's age sixty-five survivor benefit. However, no lump sum trustee-to-trustee payment may be made unless the following requirements are satisfied:</span></p><p dir="ltr" class="s2033489Normal-000001"><span class="s2033489DefaultParagraphFont">(1)    Neither the member nor the member's family nor the member's spouse received any monthly benefits from the plan; and</span></p><p dir="ltr" class="s2033489Normal-000001"><span class="s2033489DefaultParagraphFont">(2)    The surviving spouse directs a trustee-to-trustee transfer of the lump sum payment to a receiving retirement custodian, trustee, or other approved recipient.</span></p><p dir="ltr" class="s2033489Normal-000002"><span class="s2033489DefaultParagraphFont">Any eligible surviving spouse who desires to make the election authorized by this section shall submit an application to the system.</span></p><p dir="ltr" class="s2033489Normal"><span xml:space="preserve" class="s2033489000003"> </span></p><p dir="ltr" class="s2033489Normal"><span class="s2033489SCL">Source:</span><span xml:space="preserve" class="s2033489SCL-000004"> SL 2014, ch 22, § 2; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-224"><span class="s2033489SCL-000004">3-12-224</span></a><span class="s2033489SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1650"> <span class="pt-SENU">3-12C-1650</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Department of Labor and Regulation employees' retirement plan--Membership with system--Class D.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">As of July 1, 2020, each member of the Department of Labor and Regulation employees retirement plan, including any retiree and any vested member, is a Class D member of the system. No additional member may be added to Class D. The administration of retirement benefits for Class D members shall continue with the system in accordance with this chapter and chapter 3-13C.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 13, § 1.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1651"> <span class="pt-SENU">3-12C-1651</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Class D membership--Benefits received.</span> </p> <p dir="ltr" class="pt-Statute"> <span xml:space="preserve" class="pt-DefaultParagraphFont">Each Class D member shall receive the same benefit as provided pursuant to the Department of Labor and Regulation employees retirement plan as in effect on June 30, 2020, and in accordance with chapter 3-13C. Each Class D member's benefit shall be annually increased by the COLA as determined by § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-704"> <span class="pt-DefaultParagraphFont">3-12C-704</span> </a> <span class="pt-DefaultParagraphFont">. The benefits of any Class D member and the member's beneficiaries and any operational expenses related to Class D members shall be paid from the plan fund established by this chapter.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 13, § 2.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033490Normal { 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.s2033490SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033490CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033490Normal-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.s2033490DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033490000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033490SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033490SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033490Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1701"><span class="s2033490SENU">3-12C-1701</span></a><span xml:space="preserve" class="s2033490SENU">. </span><span class="s2033490CL">Correctional security staff benefits.</span></p><p dir="ltr" class="s2033490Normal-000000"><span xml:space="preserve" class="s2033490DefaultParagraphFont">For purposes of determining the benefits of correctional security staff, for credited service earned prior to July 1, 1978, the benefits shall be calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1106"><span class="s2033490DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s2033490DefaultParagraphFont"> and for credited service after July 1, 1978, the benefits shall be calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033490DefaultParagraphFont">3-12C-1107</span></a><span class="s2033490DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033490Normal"><span xml:space="preserve" class="s2033490000001"> </span></p><p dir="ltr" class="s2033490Normal"><span class="s2033490SCL">Source:</span><span xml:space="preserve" class="s2033490SCL-000002"> SL 1977, ch 31, § 4; SL 2018, ch 32, § 5; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-92.1"><span class="s2033490SCL-000002">3-12-92.1</span></a><span class="s2033490SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s92baf21b5d154b0b885c38c8325dec88Normal { 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.s92baf21b5d154b0b885c38c8325dec88SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s92baf21b5d154b0b885c38c8325dec88CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s92baf21b5d154b0b885c38c8325dec88Statute { 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.s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s92baf21b5d154b0b885c38c8325dec88000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s92baf21b5d154b0b885c38c8325dec88NoIndent { 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.s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s92baf21b5d154b0b885c38c8325dec88SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1702 - Calculation of benefits for sheriffs and deputies--Prior elective rights preserved."><meta property="og:description" content="SDLRC Codified Law 3-12C-1702 - Calculation of benefits for sheriffs and deputies--Prior elective rights preserved."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1702"><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="s92baf21b5d154b0b885c38c8325dec88Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1702" rel="noopener"><span class="s92baf21b5d154b0b885c38c8325dec88SENU">3-12C-1702</span></a><span xml:space="preserve" class="s92baf21b5d154b0b885c38c8325dec88SENU">. </span><span class="s92baf21b5d154b0b885c38c8325dec88CL">Calculation of benefits for sheriffs and deputies--Prior elective rights preserved.</span></p><p dir="ltr" class="s92baf21b5d154b0b885c38c8325dec88Statute"><span xml:space="preserve" class="s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont">For purposes of determining the benefits of a county sheriff or a deputy county sheriff for credited service earned prior to January 1, 1980, the benefits are calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1106" rel="noopener"><span class="s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont">. For credited service after January 1, 1980, the benefits are calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1107" rel="noopener"><span class="s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont">3-12C-1107</span></a><span xml:space="preserve" class="s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont">. Nothing in this chapter may be construed as an abridgement of the right of a sheriff to exercise the right to elect to participate pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-303" rel="noopener"><span class="s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont">3-12C-303</span></a><span class="s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont">.</span></p><p dir="ltr" class="s92baf21b5d154b0b885c38c8325dec88Normal"><span xml:space="preserve" class="s92baf21b5d154b0b885c38c8325dec88000000"> </span></p><p dir="ltr" class="s92baf21b5d154b0b885c38c8325dec88NoIndent"><span xml:space="preserve" class="s92baf21b5d154b0b885c38c8325dec88DefaultParagraphFont-000001">Source: </span><span class="s92baf21b5d154b0b885c38c8325dec88SCL">SL 1979, ch 26, §§ 2, 3; SDCL § 3-12-92.2; SL 2019, ch 22, § 1; SL 2025, ch 27, § 69.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033492Normal { 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.s2033492SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033492CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033492Normal-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.s2033492DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033492000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033492SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033492SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033492Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1703"><span class="s2033492SENU">3-12C-1703</span></a><span xml:space="preserve" class="s2033492SENU">. </span><span class="s2033492CL">Calculation of benefits of parole agent.</span></p><p dir="ltr" class="s2033492Normal-000000"><span xml:space="preserve" class="s2033492DefaultParagraphFont">For purposes of determining the benefits of a parole agent, for credited service earned prior to July 1, 1991, the benefits shall be calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1106"><span class="s2033492DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s2033492DefaultParagraphFont"> and for credited service after June 30, 1991, the benefits shall be calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033492DefaultParagraphFont">3-12C-1107</span></a><span class="s2033492DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033492Normal"><span xml:space="preserve" class="s2033492000001"> </span></p><p dir="ltr" class="s2033492Normal"><span class="s2033492SCL">Source:</span><span xml:space="preserve" class="s2033492SCL-000002"> SL 1991, ch 29, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-92.3"><span class="s2033492SCL-000002">3-12-92.3</span></a><span class="s2033492SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033493Normal { 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.s2033493SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033493CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033493Normal-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.s2033493DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033493000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033493SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033493SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2033493Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1704"><span class="s2033493SENU">3-12C-1704</span></a><span xml:space="preserve" class="s2033493SENU">. </span><span class="s2033493CL">Calculating benefits of air rescue firefighter.</span></p><p dir="ltr" class="s2033493Normal-000000"><span xml:space="preserve" class="s2033493DefaultParagraphFont">For purposes of determining the benefits of an air rescue firefighter, for credited service earned prior to July 1, 1992, the benefits shall be calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1106"><span class="s2033493DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s2033493DefaultParagraphFont"> and for credited service after June 30, 1992, the benefits shall be calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033493DefaultParagraphFont">3-12C-1107</span></a><span class="s2033493DefaultParagraphFont">.</span></p><p dir="ltr" class="s2033493Normal"><span xml:space="preserve" class="s2033493000001"> </span></p><p dir="ltr" class="s2033493Normal"><span class="s2033493SCL">Source:</span><span xml:space="preserve" class="s2033493SCL-000002"> SL 1992, ch 34, § 3; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-129"><span class="s2033493SCL-000002">3-12-129</span></a><span class="s2033493SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.scce52a66c1d24514b9685062c0c9d5e5Normal { 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.scce52a66c1d24514b9685062c0c9d5e5SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.scce52a66c1d24514b9685062c0c9d5e5CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.scce52a66c1d24514b9685062c0c9d5e5Statute { 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.scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.scce52a66c1d24514b9685062c0c9d5e5000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.scce52a66c1d24514b9685062c0c9d5e5NoIndent { 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.scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.scce52a66c1d24514b9685062c0c9d5e5SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1705 - Foundation member conservation officers."><meta property="og:description" content="SDLRC Codified Law 3-12C-1705 - Foundation member conservation officers."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1705"><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="scce52a66c1d24514b9685062c0c9d5e5Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1705" rel="noopener"><span class="scce52a66c1d24514b9685062c0c9d5e5SENU">3-12C-1705</span></a><span xml:space="preserve" class="scce52a66c1d24514b9685062c0c9d5e5SENU">. </span><span class="scce52a66c1d24514b9685062c0c9d5e5CL">Foundation member conservation officers.</span></p><p dir="ltr" class="scce52a66c1d24514b9685062c0c9d5e5Statute"><span xml:space="preserve" class="scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont">For purposes of determining the retirement benefits of a foundation member conservation officer for credited service earned before July 1, 1983, the benefits are calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1106" rel="noopener"><span class="scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont">. For credited service earned after June 30, 1983, the benefits are calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1107" rel="noopener"><span class="scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont">3-12C-1107</span></a><span class="scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont">.</span></p><p dir="ltr" class="scce52a66c1d24514b9685062c0c9d5e5Statute"><span class="scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont">For purposes of credited service earned before July 1, 1983, a conservation officer has a normal retirement age of sixty-five. For purposes of credited service earned after June 30, 1983, a foundation member conservation officer has a normal retirement age of fifty-five.</span></p><p dir="ltr" class="scce52a66c1d24514b9685062c0c9d5e5Normal"><span xml:space="preserve" class="scce52a66c1d24514b9685062c0c9d5e5000000"> </span></p><p dir="ltr" class="scce52a66c1d24514b9685062c0c9d5e5NoIndent"><span xml:space="preserve" class="scce52a66c1d24514b9685062c0c9d5e5DefaultParagraphFont-000001">Source: </span><span class="scce52a66c1d24514b9685062c0c9d5e5SCL">SL 1983, ch 19, § 3; SL 1989, ch 38, § 7; SL 2016, ch 32, § 32; SDCL § 3-12-62.8; SL 2019, ch 22, § 1; SL 2025, ch 27, § 70.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sfde3f4b526d141b6815ffffe124e4e0fNormal { 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.sfde3f4b526d141b6815ffffe124e4e0fSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sfde3f4b526d141b6815ffffe124e4e0fCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sfde3f4b526d141b6815ffffe124e4e0fStatute { 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.sfde3f4b526d141b6815ffffe124e4e0fDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sfde3f4b526d141b6815ffffe124e4e0f000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sfde3f4b526d141b6815ffffe124e4e0fNoIndent { 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.sfde3f4b526d141b6815ffffe124e4e0fDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sfde3f4b526d141b6815ffffe124e4e0fSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1706 - Benefits of conservation officers employed by Department of Game, Fish and Parks, Division of Custer State Park, and park rangers--Credited service."><meta property="og:description" content="SDLRC Codified Law 3-12C-1706 - Benefits of conservation officers employed by Department of Game, Fish and Parks, Division of Custer State Park, and park rangers--Credited service."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1706"><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="sfde3f4b526d141b6815ffffe124e4e0fNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1706" rel="noopener"><span class="sfde3f4b526d141b6815ffffe124e4e0fSENU">3-12C-1706</span></a><span xml:space="preserve" class="sfde3f4b526d141b6815ffffe124e4e0fSENU">. </span><span class="sfde3f4b526d141b6815ffffe124e4e0fCL">Benefits of conservation officers employed by Department of Game, Fish and Parks, Division of Custer State Park, and park rangers--Credited service.</span></p><p dir="ltr" class="sfde3f4b526d141b6815ffffe124e4e0fStatute"><span xml:space="preserve" class="sfde3f4b526d141b6815ffffe124e4e0fDefaultParagraphFont">To determine the retirement benefits of a conservation officer employed by the Department of Game, Fish and Parks, Division of Custer State Park, and a park ranger, for credited service earned prior to July 1, 1995, the benefits are calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1106" rel="noopener"><span class="sfde3f4b526d141b6815ffffe124e4e0fDefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="sfde3f4b526d141b6815ffffe124e4e0fDefaultParagraphFont">. For credited service after June 30, 1995, the benefits are calculated pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1107" rel="noopener"><span class="sfde3f4b526d141b6815ffffe124e4e0fDefaultParagraphFont">3-12C-1107</span></a><span class="sfde3f4b526d141b6815ffffe124e4e0fDefaultParagraphFont">.</span></p><p dir="ltr" class="sfde3f4b526d141b6815ffffe124e4e0fNormal"><span xml:space="preserve" class="sfde3f4b526d141b6815ffffe124e4e0f000000"> </span></p><p dir="ltr" class="sfde3f4b526d141b6815ffffe124e4e0fNoIndent"><span xml:space="preserve" class="sfde3f4b526d141b6815ffffe124e4e0fDefaultParagraphFont-000001">Source: </span><span class="sfde3f4b526d141b6815ffffe124e4e0fSCL">SL 1995, ch 18, § 3; SDCL § 3-12-62.9; SL 2019, ch 22, § 1; SL 2025, ch 27, § 71.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sf0de83c590b64e45829086cc0df816beNormal { 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.sf0de83c590b64e45829086cc0df816beSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf0de83c590b64e45829086cc0df816beCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sf0de83c590b64e45829086cc0df816beStatute { 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.sf0de83c590b64e45829086cc0df816beDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sf0de83c590b64e45829086cc0df816be000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sf0de83c590b64e45829086cc0df816beNoIndent { 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.sf0de83c590b64e45829086cc0df816beDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sf0de83c590b64e45829086cc0df816beSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1801 - Participant--Definition in this part."><meta property="og:description" content="SDLRC Codified Law 3-12C-1801 - Participant--Definition in this part."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1801"><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="sf0de83c590b64e45829086cc0df816beNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1801" rel="noopener"><span class="sf0de83c590b64e45829086cc0df816beSENU">3-12C-1801</span></a><span xml:space="preserve" class="sf0de83c590b64e45829086cc0df816beSENU">. </span><span class="sf0de83c590b64e45829086cc0df816beCL">Participant--Definition in this part.</span></p><p dir="ltr" class="sf0de83c590b64e45829086cc0df816beStatute"><span xml:space="preserve" class="sf0de83c590b64e45829086cc0df816beDefaultParagraphFont">For purposes of §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1801" rel="noopener"><span class="sf0de83c590b64e45829086cc0df816beDefaultParagraphFont">3-12C-1801</span></a><span xml:space="preserve" class="sf0de83c590b64e45829086cc0df816beDefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1817" rel="noopener"><span class="sf0de83c590b64e45829086cc0df816beDefaultParagraphFont">3-12C-1817</span></a><span xml:space="preserve" class="sf0de83c590b64e45829086cc0df816beDefaultParagraphFont">, inclusive, a participant is a member, retiree, or the surviving spouse of a member or retiree, who is eligible to participate in the qualified benefit preservation arrangement as determined by § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1804" rel="noopener"><span class="sf0de83c590b64e45829086cc0df816beDefaultParagraphFont">3-12C-1804</span></a><span class="sf0de83c590b64e45829086cc0df816beDefaultParagraphFont">.</span></p><p dir="ltr" class="sf0de83c590b64e45829086cc0df816beNormal"><span xml:space="preserve" class="sf0de83c590b64e45829086cc0df816be000000"> </span></p><p dir="ltr" class="sf0de83c590b64e45829086cc0df816beNoIndent"><span xml:space="preserve" class="sf0de83c590b64e45829086cc0df816beDefaultParagraphFont-000001">Source: </span><span class="sf0de83c590b64e45829086cc0df816beSCL">SL 2020, ch 14, § 1; SL 2025, ch 27, § 72.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sc038bf182d6344899613b1c4e37bd5e2Normal { 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.sc038bf182d6344899613b1c4e37bd5e2SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc038bf182d6344899613b1c4e37bd5e2CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sc038bf182d6344899613b1c4e37bd5e2Statute { 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.sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sc038bf182d6344899613b1c4e37bd5e2000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sc038bf182d6344899613b1c4e37bd5e2NoIndent { 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.sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sc038bf182d6344899613b1c4e37bd5e2SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1802 - Definition of qualified benefit preservation arrangement."><meta property="og:description" content="SDLRC Codified Law 3-12C-1802 - Definition of qualified benefit preservation arrangement."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1802"><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="sc038bf182d6344899613b1c4e37bd5e2Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1802" rel="noopener"><span class="sc038bf182d6344899613b1c4e37bd5e2SENU">3-12C-1802</span></a><span xml:space="preserve" class="sc038bf182d6344899613b1c4e37bd5e2SENU">. </span><span class="sc038bf182d6344899613b1c4e37bd5e2CL">Definition of qualified benefit preservation arrangement.</span></p><p dir="ltr" class="sc038bf182d6344899613b1c4e37bd5e2Statute"><span xml:space="preserve" class="sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont">For purposes of §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1801" rel="noopener"><span class="sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont">3-12C-1801</span></a><span xml:space="preserve" class="sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1817" rel="noopener"><span class="sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont">3-12C-1817</span></a><span xml:space="preserve" class="sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont">, inclusive, the qualified benefit preservation arrangement is an arrangement under section 415(m) of the Internal Revenue Code and established in § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1803" rel="noopener"><span class="sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont">3-12C-1803</span></a><span class="sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont">.</span></p><p dir="ltr" class="sc038bf182d6344899613b1c4e37bd5e2Normal"><span xml:space="preserve" class="sc038bf182d6344899613b1c4e37bd5e2000000"> </span></p><p dir="ltr" class="sc038bf182d6344899613b1c4e37bd5e2NoIndent"><span xml:space="preserve" class="sc038bf182d6344899613b1c4e37bd5e2DefaultParagraphFont-000001">Source: </span><span class="sc038bf182d6344899613b1c4e37bd5e2SCL">SL 2020, ch 14, § 2; SL 2025, ch 27, § 73.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } a.pt-000000 { text-decoration: none; } span.pt-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1803"> <span class="pt-SENU">3-12C-1803</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Qualified benefit preservations arrangement--Establishment--Purpose.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement is established and placed under the management of the board. The purpose of the qualified benefit preservation arrangement is solely to provide a portion of the benefit that would otherwise have been payable by the system except for the limitations under section 415(b) of the Internal Revenue Code, as determined in § 3-12C-1805. The qualified benefit preservation arrangement is intended to constitute a qualified governmental excess benefit arrangement under section 415(m) of the Internal Revenue Code and shall be interpreted and construed consistently with that intent. The qualified benefit preservation arrangement is a portion of the system solely to the extent required under, and within the meaning of, code section 415(m)(3) and § 3-12C-1805.</span> </p> <p dir="ltr" class="pt-Statute"> <a id="_pagenumber2" class="pt-000000"></a> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement is an exempt governmental deferred compensation plan described in code section 3121(v)(3). Code sections 83, 402(b), 457(a) and 457(f)(1) do not apply to the qualified benefit preservation arrangement. With respect to code section 457(a), the maximum amount that may be deferred under the qualified benefit preservation arrangement on behalf of any participant for the taxable year may exceed both the amount in code section 457(b)(2), as adjusted for cost of living increases, and the percent of the participant's includible compensation referred to in that code section. The system may not hold any assets or income under the qualified benefit preservation arrangement in trust for the exclusive benefit of participants.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000001"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000002">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 3.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.pt-DefaultParagraphFont-000000 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; display: inline-block; text-indent: 0; width: 0.500in; } span.pt-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1804"> <span class="pt-SENU">3-12C-1804</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Eligibility to participate.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">Effective as of July 1, 2020, a participant is eligible to participate in the qualified benefit preservation arrangement for any calendar year, or portion of the calendar year, during which the participant is entitled to receive a benefit payment from the system, but the benefit is required to be reduced due to the application of the maximum benefit provisions of section 415(b) of the Internal Revenue Code. In that case, the participant may be eligible for a benefit as determined in § 3-12C-1805.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The system shall determine which participants are eligible to participate in the qualified benefit preservation arrangement. Eligibility for participation begins in any month in which a participant is entitled to receive a benefit from the system that is required to be reduced due to the application of the maximum benefit provisions of section 415(b) of the Internal Revenue Code and ends in any month in which the benefit is not limited by code section 415(b) or when all benefits under the system have ended.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">Eligibility to participate in the qualified benefit preservation arrangement is limited to those retirees or beneficiaries whose benefits under the system are required to be reduced based upon either of the following:</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(1)</span> <span class="pt-DefaultParagraphFont">The rules for retirement before age sixty-two under section 415(b)(2)(C) of the Internal Revenue Code; or</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(2)</span> <span class="pt-DefaultParagraphFont">The rules regarding benefits for which there is not an actuarial increase due to retirement after age sixty-five as set forth in section 415(b)(2)(D) of the Internal Revenue Code.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000001"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000002">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 4.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.pt-DefaultParagraphFont-000000 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; display: inline-block; text-indent: 0; width: 0.500in; } span.pt-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1805"> <span class="pt-SENU">3-12C-1805</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Benefit payable.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">A participant shall receive a portion of the participant's benefit that is equal to the difference between the amount of that participant's monthly retirement benefit paid under the system and the amount that would have been payable to the participant from the system in that month if not for the reduction due to the application of section 415(b) of the Internal Revenue Code, limited by the following conditions:</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(1)</span> <span class="pt-DefaultParagraphFont">For any retirement benefit that begins before the member attains age sixty-two, the maximum total benefit payable is equal to the Internal Revenue Code's applicable benefit limit for the calendar year for a retirement at age sixty-two to sixty-five, as if the reduction for retirement before age sixty-two was not applied. Specifically, the qualified benefit preservation arrangement shall pay the amount that exceeds the Internal Revenue Code's benefit limit as actuarially reduced for commencement before age sixty-two but may only pay a benefit up to the applicable benefit limit under section 415(b) of the Internal Revenue Code for the calendar year unreduced for early commencement. When the participant's benefit from the qualified benefit preservation arrangement is combined with the participant's benefit from the system, the participant's total benefit may not exceed the applicable benefit limit under section 415(b) of the Internal Revenue Code for the calendar year, unreduced for early commencement;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(2)</span> <span class="pt-DefaultParagraphFont">For any retirement benefit that begins after age sixty-five, the maximum total benefit payable is equal to the Internal Revenue Code's applicable benefit limit for a retirement at age sixty-two to sixty-five, inclusive, as if the limit was actuarially increased for a retirement at the participant s retirement age, up to age seventy, and the qualified benefit preservation arrangement shall pay the amount that exceeds the code's benefit limit for retirement at age sixty-two to sixty-five, inclusive. When the participant's benefit from the qualified benefit preservation arrangement is combined with the participant's benefit from the system, the participant's total benefit may not exceed the applicable benefit limit under section 415(b) of the Internal Revenue Code for the calendar year, actuarially increased to the participant s age at retirement, up to age seventy.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">For purposes of the benefits payable from the qualified benefit preservation arrangement, if a participant receives an annual incentive payment based on performance, the incentive payment will be treated as paid in the same calendar quarter of each year considered in the computation of final average compensation. If an annual incentive payment is paid in different calendar quarters in the years considered in the computation of final average compensation, the annual incentive payment will be treated as if it was consistently paid in the fourth calendar quarter.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The benefit payable from the qualified benefit preservation arrangement is limited to the amount that, if combined with the participant s benefit from the system, does not exceed the amount that would have been payable to the participant from the system in that month if not for the reduction due to the application of section 415(b) of the Internal Revenue Code as adjusted in accordance with section 415(d)(1)(A) of the Internal Revenue Code.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement shall be computed and is payable under the same terms, at the same time, and to the same person as the related benefit payable under the system. A participant may not elect to defer the receipt of any part of the payment due under the qualified benefit preservation arrangement.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000001"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000002">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 5.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1806"> <span class="pt-SENU">3-12C-1806</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Cost of living adjustment after benefit begins--Change in benefit payable.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">After retirement, the monthly retirement benefit that would have been payable to the participant if not for the application of section 415(b) of the Internal Revenue Code will increase with any cost of living adjustment as determined by the system, and the applicable benefit limits under 415(b) of the Internal Revenue Code will be adjusted in accordance with section 415(d)(1)(A) of the Internal Revenue Code. As a result, the benefit payable from the qualified benefit preservation arrangement may increase or decrease due solely to the interaction of the cost of living adjustment as determined by the system and the applicable benefit limit adjustment in accordance with section 415(d)(1)(A).</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 6.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1807"> <span class="pt-SENU">3-12C-1807</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Qualified benefit preservation arrangement--Funding.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement is, and shall remain, unfunded within the meaning of federal tax laws, and the rights, if any, of any participant to any benefit under the qualified benefit preservation arrangement are limited to those specified in this part.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 7.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sa903c48caf564fd99d82f60d12ed10caNormal { 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.sa903c48caf564fd99d82f60d12ed10caSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa903c48caf564fd99d82f60d12ed10caCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sa903c48caf564fd99d82f60d12ed10caStatute { 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.sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sa903c48caf564fd99d82f60d12ed10ca000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sa903c48caf564fd99d82f60d12ed10caNoIndent { 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.sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sa903c48caf564fd99d82f60d12ed10caSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1808 - Contributions--Accounting."><meta property="og:description" content="SDLRC Codified Law 3-12C-1808 - Contributions--Accounting."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1808"><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="sa903c48caf564fd99d82f60d12ed10caNormal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1808" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caSENU">3-12C-1808</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caSENU">. </span><span class="sa903c48caf564fd99d82f60d12ed10caCL">Contributions--Accounting.</span></p><p dir="ltr" class="sa903c48caf564fd99d82f60d12ed10caStatute"><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">The system must determine the amount necessary to pay the benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">, for each calendar year. The required contribution is the aggregate of the benefits payable under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont"> to all participants for the calendar year and an amount determined to be a necessary and reasonable expense of administering the qualified benefit preservation arrangement. Contributions may not be calculated in a manner designed to pay future benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">. Each payment of contributions by an employer that would otherwise be made to the system fund must be reduced by the amount necessary to pay the benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">, and the contributions must be deposited in the qualified benefit preservation arrangement trust fund. Any employer contribution otherwise required under the terms of this chapter is divided into the contributions required to pay the benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">, and the contributions paid into and accumulated in the system fund to pay the maximum benefits permitted. Any employer contribution to fund the benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont"> may not be credited to or commingled with any contribution paid into and accumulated in the system fund. The amount deducted from an employer contribution and deposited into the qualified benefit preservation arrangement fund does not increase the amount of employer contributions required under the system fund. Any contribution not used to pay the benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont"> for a current calendar year, together with any income accruing to the qualified benefit preservation arrangement fund, is used to pay the administrative expenses of the qualified benefit preservation arrangement for the calendar year. Any contribution not used to pay the benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont"> for the current calendar year that remain after paying administrative expenses is used to fund administrative expenses or benefits of participants in future years.</span></p><p dir="ltr" class="sa903c48caf564fd99d82f60d12ed10caStatute"><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">The system must account separately for the amounts determined to be necessary to provide the benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont"> for each participant. The separate accounting does not constitute setting aside the amounts for the benefit of a participant. Benefits under § </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1805" rel="noopener"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">3-12C-1805</span></a><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont"> must be paid from the qualified benefit preservation arrangement fund.</span></p><p dir="ltr" class="sa903c48caf564fd99d82f60d12ed10caStatute"><span class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont">Any consultant or outside auditor, attorney, or actuary performing services for the system may also perform services for the qualified benefit preservation arrangement. Any fees attributable to services performed with respect to the qualified benefit preservation arrangement are payable solely from the qualified benefit preservation arrangement fund.</span></p><p dir="ltr" class="sa903c48caf564fd99d82f60d12ed10caNormal"><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10ca000000"> </span></p><p dir="ltr" class="sa903c48caf564fd99d82f60d12ed10caNoIndent"><span xml:space="preserve" class="sa903c48caf564fd99d82f60d12ed10caDefaultParagraphFont-000001">Source: </span><span class="sa903c48caf564fd99d82f60d12ed10caSCL">SL 2020, ch 14, § 8; SL 2025, ch 27, § 74.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1809"> <span class="pt-SENU">3-12C-1809</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Qualified benefit preservation arrangement trust fund--Establishment--Purpose.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement trust fund is established as a valid trust under the laws of the state, separate from the system fund, to hold contributions of the employers. Contributions to the qualified benefit preservation arrangement fund shall be held separate and apart from the funds comprising the system fund and may not be commingled with assets of the system fund and must be accounted for separately.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement fund is maintained solely to provide certain benefits under a qualified governmental excess benefit arrangement within the meaning of section 415(m) of the Internal Revenue Code and to pay reasonable and necessary administrative expenses of the arrangement.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement fund is intended to be a grantor trust, of which the employer is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the code, and shall be construed accordingly. This provision may not be construed to create an irrevocable trust of any kind.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The South Dakota Investment Council may, if it is determined advisable, hold assets of the qualified benefit preservation arrangement fund uninvested for making distributions under the qualified benefit preservation arrangement or may invest assets of the qualified benefit preservation arrangement as otherwise permitted by law.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 9.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s6d48384f538c407b8802f62323e057c9Normal { 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.s6d48384f538c407b8802f62323e057c9SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s6d48384f538c407b8802f62323e057c9CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s6d48384f538c407b8802f62323e057c9Statute { 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.s6d48384f538c407b8802f62323e057c9DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s6d48384f538c407b8802f62323e057c9000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s6d48384f538c407b8802f62323e057c9NoIndent { 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.s6d48384f538c407b8802f62323e057c9DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s6d48384f538c407b8802f62323e057c9SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1810 - Income."><meta property="og:description" content="SDLRC Codified Law 3-12C-1810 - Income."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1810"><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="s6d48384f538c407b8802f62323e057c9Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1810" rel="noopener"><span class="s6d48384f538c407b8802f62323e057c9SENU">3-12C-1810</span></a><span xml:space="preserve" class="s6d48384f538c407b8802f62323e057c9SENU">. </span><span class="s6d48384f538c407b8802f62323e057c9CL">Income.</span></p><p dir="ltr" class="s6d48384f538c407b8802f62323e057c9Statute"><span class="s6d48384f538c407b8802f62323e057c9DefaultParagraphFont">Any assets held by the qualified benefit preservation arrangement to assist in meeting the employer's obligations under the qualified benefit preservation arrangement, including all employer contributions made under the qualified benefit preservation arrangement, all property and rights acquired or purchased with these amounts, and all income attributable to these amounts must be held separate and apart from other funds of the employer and used exclusively for the uses and purposes of participants and general creditors, as set forth in this part. Participants have no preferred claim on, or any beneficial interest in, any assets of the qualified benefit preservation arrangement fund. Any rights created under this part are unsecured contractual rights of a participant against the employer. Any assets held by the qualified benefit preservation arrangement fund are subject to the claims of the employer's general creditors under federal and state law in the event of the employer's insolvency.</span></p><p dir="ltr" class="s6d48384f538c407b8802f62323e057c9Statute"><span class="s6d48384f538c407b8802f62323e057c9DefaultParagraphFont">Income accruing to the qualified benefit preservation arrangement fund constitutes income derived from the exercise of an essential governmental function upon which the qualified benefit preservation arrangement fund is exempt from tax under §§ 115 and 415(m)(1) of the Internal Revenue Code.</span></p><p dir="ltr" class="s6d48384f538c407b8802f62323e057c9Normal"><span xml:space="preserve" class="s6d48384f538c407b8802f62323e057c9000000"> </span></p><p dir="ltr" class="s6d48384f538c407b8802f62323e057c9NoIndent"><span xml:space="preserve" class="s6d48384f538c407b8802f62323e057c9DefaultParagraphFont-000001">Source: </span><span class="s6d48384f538c407b8802f62323e057c9SCL">SL 2020, ch 14, § 10; SL 2025, ch 27, § 75.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.pt-DefaultParagraphFont-000000 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; display: inline-block; text-indent: 0; width: 0.500in; } span.pt-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1811"> <span class="pt-SENU">3-12C-1811</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Qualified benefit preservation arrangement--Administration.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The system shall administer the qualified benefit preservation arrangement. The system shall compile and maintain all records necessary for administration. The board has the same rights, duties, and responsibilities respecting the qualified benefit preservation arrangement as it has with respect to the system. The board shall, as necessary and appropriate, take the following actions:</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(1)</span> <span class="pt-DefaultParagraphFont">Establish procedures to administer the qualified benefit preservation arrangement not inconsistent with this part and the Internal Revenue Code, and to amend or rescind any of these procedures;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(2)</span> <span class="pt-DefaultParagraphFont">Determine, consistent with this part, applicable law, rules, or regulations, all questions of law or fact that may arise as to eligibility for participation and eligibility for distribution of benefits, and the status of any person claiming benefits under the qualified benefit preservation arrangement;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(3)</span> <span class="pt-DefaultParagraphFont">Make payments from the qualified benefit preservation arrangement fund to participants pursuant to this part;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(4)</span> <span class="pt-DefaultParagraphFont">Contract with a third party to perform designated administrative services under this part;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(5)</span> <span class="pt-DefaultParagraphFont">Construe and interpret this part as to administrative issues and to correct any defect, supply any omission, or reconcile any inconsistency in the qualified benefit preservation arrangement, subject to and consistent with the code; and</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(6)</span> <span class="pt-DefaultParagraphFont">Seek appropriate rulings from the Internal Revenue Service with regard to the status of the qualified benefit preservation arrangement under the Internal Revenue Code.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000001"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000002">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 11.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1812"> <span class="pt-SENU">3-12C-1812</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Qualified benefit preservation arrangement--No assignment.</span> </p> <p dir="ltr" class="pt-Statute"> <span xml:space="preserve" class="pt-DefaultParagraphFont">The rights of a person to a benefit, and the benefit itself, payable under this part are hereby exempt from any state, county, municipal, or other local tax and may not be subject to execution, garnishment, attachment, operation of bankruptcy or insolvency laws, or any other process of law whatsoever and is unassignable and nontransferable, except as otherwise provided by § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1809"> <span class="pt-DefaultParagraphFont">3-12C-1809</span> </a> <span xml:space="preserve" class="pt-DefaultParagraphFont"> or otherwise in the same manner as a retirement benefit under the system.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 12.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.pt-DefaultParagraphFont-000000 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; display: inline-block; text-indent: 0; width: 0.500in; } span.pt-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1813"> <span class="pt-SENU">3-12C-1813</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Conflicts.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">In resolving any conflict between provisions of this part, and in resolving any other uncertainty as to the meaning or intention of any provision of the qualified benefit preservation arrangement, the prevailing interpretation shall be the one that causes:</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(1)</span> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement to constitute a qualified governmental excess benefit arrangement under the provisions of section 415(m) of the Internal Revenue Code and the qualified benefit preservation arrangement fund to be exempt from tax under sections 115 and 415(m) of the Internal Revenue Code;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(2)</span> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement and the system to comply with all applicable requirements of the code; and</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(3)</span> <span class="pt-DefaultParagraphFont">The qualified benefit preservation arrangement and the system to comply with all applicable state laws.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000001"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000002">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 13.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.pt-DefaultParagraphFont-000000 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; display: inline-block; text-indent: 0; width: 0.500in; } span.pt-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1814"> <span class="pt-SENU">3-12C-1814</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Limitation of rights.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">Neither the establishment or maintenance of the qualified benefit preservation arrangement, nor any amendment to the qualified benefit preservation arrangement, nor any act or omission under the qualified benefit preservation arrangement or resulting from the operation of the qualified benefit preservation arrangement, may be construed:</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(1)</span> <span class="pt-DefaultParagraphFont">As conferring upon any participant or any other person a right or claim against the system, board, executive director, trustees, or any employer, except to the extent that the right or claim is specifically expressed and provided in the qualified benefit preservation arrangement;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(2)</span> <span class="pt-DefaultParagraphFont">As creating any responsibility or liability of any employer for the validity or effect of the qualified benefit preservation arrangement;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(3)</span> <span class="pt-DefaultParagraphFont">As a contract between any employer and any participant or other person;</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(4)</span> <span class="pt-DefaultParagraphFont">As being consideration for, or an inducement or condition of, employment of any participant or other person, or as affecting or restricting in any manner or to any extent whatsoever the rights or obligations of any employer or any participant or other person to continue or terminate the employment relationship at any time; or</span> </p> <p dir="ltr" class="pt-StatuteNumber1"> <span class="pt-DefaultParagraphFont-000000">(5)</span> <span class="pt-DefaultParagraphFont">As giving any participant the right to be retained in the employer's service or to interfere with the employer's right to discharge any participant or other person at any time.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000001"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000002">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 14.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1815"> <span class="pt-SENU">3-12C-1815</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Erroneous payments--Corrections.</span> </p> <p dir="ltr" class="pt-Statute"> <span xml:space="preserve" class="pt-DefaultParagraphFont">Any benefit payment that should not have been made, according to the terms of the qualified benefit preservation arrangement and the benefits provided under the qualified benefit preservation arrangement, may be recovered as provided in § </span> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-214"> <span class="pt-DefaultParagraphFont">3-12C-214</span> </a> <span class="pt-DefaultParagraphFont">.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">If in doubt concerning the correctness of any action in making a payment of a benefit, the payment may be suspended until verification as to the correctness of the payment or the person to receive the payment.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 15.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1816"> <span class="pt-SENU">3-12C-1816</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Administration of benefit--Release and receipt.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">Any payment to any participant shall, to the extent paid, be in full satisfaction of the participant's claim being paid and may be conditioned on the delivery by the participant of the duly executed receipt and release in a form determined by the system.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 16.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title> <meta name="Generator" content="PowerTools for Open XML" /> <style>span { white-space: pre-wrap; } p.pt-Normal { 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.pt-SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.pt-Statute { 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.pt-DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.pt-000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.pt-NoIndent { 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.pt-DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.pt-SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style> </head> <body> <div> <p dir="ltr" class="pt-Normal"> <a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1817"> <span class="pt-SENU">3-12C-1817</span> </a> <span xml:space="preserve" class="pt-SENU">. </span> <span class="pt-CL">Reservation of power to change.</span> </p> <p dir="ltr" class="pt-Statute"> <span class="pt-DefaultParagraphFont">The Legislature reserves the right at any time and, from time to time, to modify or amend, in whole or in part, any or all of the provisions of the qualified benefit preservation arrangement. No member of the system and no beneficiary of a member acquires any vested right to a payment under the qualified benefit preservation arrangement.</span> </p> <p dir="ltr" class="pt-Normal"> <span xml:space="preserve" class="pt-000000"> </span> </p> <p dir="ltr" class="pt-NoIndent"> <span xml:space="preserve" class="pt-DefaultParagraphFont-000001">Source: </span> <span class="pt-SCL">SL 2020, ch 14, § 17.</span> </p> </div> </body> </html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s5dc14d26cf844cd8862454796d45ba73Normal { 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.s5dc14d26cf844cd8862454796d45ba73SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s5dc14d26cf844cd8862454796d45ba73CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s5dc14d26cf844cd8862454796d45ba73Statute { 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.s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s5dc14d26cf844cd8862454796d45ba73StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s5dc14d26cf844cd8862454796d45ba73StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s5dc14d26cf844cd8862454796d45ba73000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s5dc14d26cf844cd8862454796d45ba73NoIndent { 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.s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s5dc14d26cf844cd8862454796d45ba73SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1901 - General rule."><meta property="og:description" content="SDLRC Codified Law 3-12C-1901 - General rule."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/3-12C-1901"><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="s5dc14d26cf844cd8862454796d45ba73Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1901" rel="noopener"><span class="s5dc14d26cf844cd8862454796d45ba73SENU">3-12C-1901</span></a><span xml:space="preserve" class="s5dc14d26cf844cd8862454796d45ba73SENU">. </span><span class="s5dc14d26cf844cd8862454796d45ba73CL">General rule.</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73Statute"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">The system shall pay all benefits in accordance with a good faith interpretation of the requirements in § 401(a)(9) of the Internal Revenue Code and the regulations in effect under that section, as applicable to a governmental plan within the meaning of section 414(d) of the Internal Revenue Code.</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73Statute"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">The member's entire interest must be distributed, or begin to be distributed, by the required beginning date, which is April first of the calendar year following the later of:</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73StatuteNumber1"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">(1)    The calendar year in which the member reaches the applicable age, which is determined as follows:</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73StatuteNumber2"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">(a)    If the member was born before July 1, 1949, the applicable age is seventy and one-half;</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73StatuteNumber2"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">(b)    If the member attained age seventy-two before January 1, 2023, the applicable age is seventy-two;</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73StatuteNumber2"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">(c)    If the member attains age seventy-two after December 31, 2022, the applicable age is seventy-three; or</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73StatuteNumber2"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">(d)    Effective January 1, 2033, applicable age shall have the meaning set forth in § 401(a)(9)(C)(v) of the Internal Revenue Code; or</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73StatuteNumber1"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">(2)    The calendar year in which the member retires and separates from service with the member's employer.</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73Statute"><span class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont">A member or beneficiary eligible for benefits must apply for benefits in order to commence distribution of benefits. The system, pursuant to a qualified domestic relations order, may establish separate benefits for a member and alternate payee.</span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73Normal"><span xml:space="preserve" class="s5dc14d26cf844cd8862454796d45ba73000000"> </span></p><p dir="ltr" class="s5dc14d26cf844cd8862454796d45ba73NoIndent"><span xml:space="preserve" class="s5dc14d26cf844cd8862454796d45ba73DefaultParagraphFont-000001">Source: </span><span class="s5dc14d26cf844cd8862454796d45ba73SCL">SL 2021, ch 28, § 2; SL 2024, ch 21, § 2.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2084351Normal { 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.s2084351SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084351CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2084351Statute { 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.s2084351DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2084351000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2084351NoIndent { 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.s2084351DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084351SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1902 - Member's death after distributions begun."><meta property="og:description" content="SDLRC Codified Law 3-12C-1902 - Member's death after distributions begun."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1902"><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="s2084351Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1902" rel="noopener"><span class="s2084351SENU">3-12C-1902</span></a><span xml:space="preserve" class="s2084351SENU">. </span><span class="s2084351CL">Member's death after distributions begun.</span></p><p dir="ltr" class="s2084351Statute"><span class="s2084351DefaultParagraphFont">If a member dies after the required distribution of benefits has begun, the remaining portion of the member's interest shall be distributed at least as rapidly as under the same method of distribution before the member's death.</span></p><p dir="ltr" class="s2084351Normal"><span xml:space="preserve" class="s2084351000000"> </span></p><p dir="ltr" class="s2084351NoIndent"><span xml:space="preserve" class="s2084351DefaultParagraphFont-000001">Source: </span><span class="s2084351SCL">SL 2021, ch 28, § 3.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2084352Normal { 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.s2084352SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084352CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2084352Statute { 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.s2084352DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2084352StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2084352000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2084352NoIndent { 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.s2084352DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084352SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1903 - Member's death before required distributions begun."><meta property="og:description" content="SDLRC Codified Law 3-12C-1903 - Member's death before required distributions begun."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1903"><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="s2084352Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1903" rel="noopener"><span class="s2084352SENU">3-12C-1903</span></a><span xml:space="preserve" class="s2084352SENU">. </span><span class="s2084352CL">Member's death before required distributions begun.</span></p><p dir="ltr" class="s2084352Statute"><span class="s2084352DefaultParagraphFont">If a member dies before required distribution of the member's benefits has begun, the member's interest shall be distributed as follows:</span></p><p dir="ltr" class="s2084352StatuteNumber1"><span class="s2084352DefaultParagraphFont">(1)    If the member has a surviving spouse, the surviving spouse shall receive benefits over the life of the surviving spouse beginning as soon as administratively possible and effective the month after the member's death; or</span></p><p dir="ltr" class="s2084352StatuteNumber1"><span class="s2084352DefaultParagraphFont">(2)    If the member has no surviving spouse, the member's remaining interest shall be distributed in a lump sum payment to the designated beneficiary within five years from the date of the member's death.</span></p><p dir="ltr" class="s2084352Normal"><span xml:space="preserve" class="s2084352000000"> </span></p><p dir="ltr" class="s2084352NoIndent"><span xml:space="preserve" class="s2084352DefaultParagraphFont-000001">Source: </span><span class="s2084352SCL">SL 2021, ch 28, § 4.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2084353Normal { 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.s2084353SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084353CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2084353Statute { 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.s2084353DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2084353000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2084353NoIndent { 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.s2084353DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084353SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </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-1904 - Incidental benefit rule."><meta property="og:description" content="SDLRC Codified Law 3-12C-1904 - Incidental benefit rule."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1904"><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="s2084353Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1904" rel="noopener"><span class="s2084353SENU">3-12C-1904</span></a><span xml:space="preserve" class="s2084353SENU">. </span><span class="s2084353CL">Incidental benefit rule.</span></p><p dir="ltr" class="s2084353Statute"><span class="s2084353DefaultParagraphFont">The death and disability benefits provided by the system are limited by the incidental benefit rule set forth in § 401(a)(9)(G) of the Internal Revenue Code and Treasury Regulation § 1.401-1(b)(1)(i). As a result, the total death or disability benefits payable may not exceed twenty-five percent of the cost for all of the member's benefits received from the system.</span></p><p dir="ltr" class="s2084353Normal"><span xml:space="preserve" class="s2084353000000"> </span></p><p dir="ltr" class="s2084353NoIndent"><span xml:space="preserve" class="s2084353DefaultParagraphFont-000001">Source: </span><span class="s2084353SCL">SL 2021, ch 28, § 5.</span></p></div></body></html><br /><hr><br /><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 - SOUTH DAKOTA RETIREMENT SYSTEM</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2084354Normal { 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.s2084354SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084354CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2084354Statute { 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.s2084354DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2084354000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2084354NoIndent { 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.s2084354DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084354SCL { 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-1905 - Reasonable and made in good faith."><meta property="og:description" content="SDLRC Codified Law 3-12C-1905 - Reasonable and made in good faith."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=3-12C-1905"><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="s2084354Normal"><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1905" rel="noopener"><span class="s2084354SENU">3-12C-1905</span></a><span xml:space="preserve" class="s2084354SENU">. </span><span class="s2084354CL">Reasonable and made in good faith.</span></p><p dir="ltr" class="s2084354Statute"><span xml:space="preserve" class="s2084354DefaultParagraphFont">Notwithstanding the other provisions of §§ </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1901" rel="noopener"><span class="s2084354DefaultParagraphFont">3-12C-1901</span></a><span xml:space="preserve" class="s2084354DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes?Statute=3-12C-1904" rel="noopener"><span class="s2084354DefaultParagraphFont">3-12C-1904</span></a><span class="s2084354DefaultParagraphFont">, inclusive, or the provisions of United States Treasury regulations, benefit options may continue so long as the option satisfies § 401(a)(9) of the Internal Revenue Code based on a reasonable and good faith interpretation of that section.</span></p><p dir="ltr" class="s2084354Normal"><span xml:space="preserve" class="s2084354000000"> </span></p><p dir="ltr" class="s2084354NoIndent"><span xml:space="preserve" class="s2084354DefaultParagraphFont-000001">Source: </span><span class="s2084354SCL">SL 2021, ch 28, § 6.</span></p></div></body></html>