SOUTH DAKOTA RETIREMENT SYSTEM
3-12-2 to 3-12-45. Repealed.
3-12-46 Previous retirement systems consolidated--Purpose.
3-12-47 Definition of terms.
3-12-47.1 Prospective increase for credited service related to years of noncontributory service.
3-12-47.2 Refund for purchase cost of noncontributing service.
3-12-47.4 Date of application of prorated payment of COLA.
3-12-47.5 Actuarial equivalent defined.
3-12-47.6 Compensation defined.
3-12-47.7 Contributing member defined.
3-12-47.8 Effective rate of interest defined .
3-12-47.9 Person's birthday for purposes of eligibility.
3-12-47.10 COLA or cost of living adjustment defined.
3-12-47.11 Excess contributions defined--Payment of excess contributions and credited investment return.
3-12-47.12 Compensation limits in Internal Revenue Code § 401(a)(17).
3-12-47.13 Knowing transmission of report with excluded compensation as misdemeanor.
3-12-48 Board of Trustees created--Composition.
3-12-49 Election of trustees--Terms of office.
3-12-50 Oath of office of trustees.
3-12-51 Compensation and expenses of trustees.
3-12-52 Meetings of board--Chair and vice chair--Votes required for decision.
3-12-53 Resignation of trustee due to loss of qualifying status--Filling of vacancy.
3-12-54 System managed by board--Standard of conduct--Legal advice.
3-12-55 Appointment of executive director--Compensation--Employment of personnel--Bond.
3-12-56 Applications for membership, credited service, or benefits.
3-12-57.1 Grievance procedure--Administrative and judicial review.
3-12-58 Rules for administration.
3-12-58.1 Confidentiality of records--Exceptions.
3-12-59 Record of board proceedings--Biennial report.
3-12-60 Business name of system--Treasurer.
3-12-61 Expense fund continued--Transfer from retirement system fund--Report of budget--Appropriation and disbursement for expenses.
3-12-62 Employees included as members of system.
3-12-62.1 Department of Labor and Regulation employees--Membership in system--Benefits and credited service.
3-12-62.2 Rapid City firemen--Membership in system--Benefits and credited service.
3-12-62.3 Rapid City firemen--Retirement benefits--Normal retirement age.
3-12-62.4 Rapid City firemen--Payments from public employees retirement fund.
3-12-62.5 Rapid City firemen--Payments by Rapid City.
3-12-62.6 Rapid City firemen--Crediting of transfers from Rapid City pension fund.
3-12-62.8 Foundation member conservation officers.
3-12-62.9 Benefits of conservation officers employed by Department of Game, Fish and Parks, Division of Custer State Park, and park rangers--Credited service.
3-12-62.10 Watertown firemen pension fund members--Credited service.
3-12-62.11 Watertown firemen--Benefits paid from the system--Minimum benefit.
3-12-62.12 Watertown firemen--Payments by Watertown.
3-12-62.13 Watertown firemen--Crediting transfers from city of Watertown firemen pension fund.
3-12-63 Officers and employees excluded from membership in system.
3-12-64 Elective officers permitted to join system--Service credited.
3-12-65 Continuation of previously established retirement plan of political subdivision or public corporation--Vote of employees required to participate in consolidated system.
3-12-66 Newly established retirement plans of political subdivisions and public corporations to participate in consolidated system.
3-12-67 Election by political subdivision or public corporation to participate in consolidated system.
3-12-67.1 Election by municipality of Sioux Falls to be participating unit.
3-12-68 Coverage of joint employees of participating and nonparticipating political subdivisions.
3-12-69 Accrued benefit deposit required when political subdivision or public corporation joins consolidated system--Participation by employees--Deferred payment of deposit.
3-12-69.1 Board of Regents employees--Definition of balances.
3-12-69.2 Existing regents' contracts preserved--Expansion of retirement plan--Transition.
3-12-69.3 Contract for purchase of service for Board of Regents.
3-12-69.4 Contributory service credited to Board of Regents employees--Eligibility of nonparticipating employees--Qualification for prior credited service.
3-12-69.5 Normal retirement allowance reduced by actuarial equivalent--Deposit of individual balance--Member contributions.
3-12-70 Effective date of participation of employees of participating unit.
3-12-71 Rate of contributions--Deduction from pay--Employer to make members' contributions.
3-12-72 Monthly transmission of contributions--Deposit in fund.
3-12-72.1 Use of fund restricted.
3-12-72.2 Rights of members on termination of system or discontinuance of contributions.
3-12-72.3 Diversion of funds prohibited--Legislative policy.
3-12-72.4 Privatization of governmental function.
3-12-73 Service records and employee information furnished by employers.
3-12-74 Deduction of delinquent contributions from payments due from state--Penalty and interest.
3-12-75 Retirement benefit to terminated member with vested right--Calculation.
3-12-76 Withdrawal of accumulated contributions on termination of public service--Exception.
3-12-76.2 Application of forfeitures.
3-12-76.3 Distribution by direct rollover.
3-12-77 Contributions left in system on termination of employment without vested right--Maximum period--Forfeiture.
3-12-77.1 Uncollected payments from system--Reversion.
3-12-77.3 Reinstatement of terminated rights.
3-12-77.4 Early withdrawal precludes additional refund.
3-12-78 Prior service credit on return of nonvested member to employment.
Redeposit of contributions by foundation member returning to service--Time of redeposit. 3-12-81
Reemployment of retired member--Termination of relationship with initial participating unit--Hiring procedures. 3-12-82
Retirement benefits for members who reentered covered employment after June 30, 2004 and before April 1, 2010. 3-12-83
Purchase of prior service credit--Calculation of amount due. 3-12-83.1
Purchase of prior service credit on tax-deferred basis. 3-12-83.2
Purchase of prior service credit by member of tax-qualifying purchase unit. 3-12-84
Purchase of prior service credit for public service not covered by retirement plan. 3-12-84.1
Acquisition of credited service through transfer of funds--Requirements. 3-12-84.2
Purchase of nonqualified permissive service credit allowed. 3-12-84.3
Acquisition of credited service for members mobilized into certain federal military service. 3-12-85
Service credit for leave of absence--Contributions to cover period of absence. 3-12-86
Credited service for leave of absence due to qualified military service--Return to employment after discharge. 3-12-86.1
Death or disability of member on leave of absence due to qualified military service--Return to service date and benefits. 3-12-86.2
Members receiving differential wage payments. 3-12-87
Valuation of purchased prior service credit--Installment payments--Death of member--Adjustment when installments not paid. 3-12-88
Benefits increased by COLA--Increase elimination. 3-12-89
Uniform application of service credit rules. 3-12-89.1
Rules regulating maximum annual benefit--Tax qualification--Limitation year defined. 3-12-89.2
Accumulated contributions defined for foundation members. 3-12-89.3
Credited service defined for foundation members. 3-12-89.4
Final average compensation for foundation members whose contributory service concluded before July 1, 2021. 3-12-89.5
Normal retirement age for foundation members .3-12-89.7
Reduction age defined for foundation members.3-12-89.8
Final average compensation for foundation members whose contributory service concludes after June 30, 2021.3-12-89.9
Limitations on final average compensation for foundation members whose contributory service concluded before July 1, 2020.3-12-89.10
Limitations on final average compensation for foundation members whose contributory service concludes after June 30, 2020. 3-12-90
Effective date of retirement benefit of foundation member--Last payment--Retroactive retirement benefits. 3-12-90.1
to 3-12-90.5. Repealed. 3-12-90.6
to 3-12-90.8. Repealed. 3-12-90.9
Normal retirement benefit for foundation members for Class A credited service. 3-12-91.1
Additional contribution for foundation members by participating unit. 3-12-92
Normal retirement benefit for foundation members for Class B credited service other than justice, judge, or magistrate judge.
Correctional security staff benefits. 3-12-92.2
Calculation of benefits for sheriffs and deputies--Prior elective rights preserved. 3-12-92.3
Calculation of benefits of parole agent. 3-12-92.4
Normal retirement benefit for foundation members for Class B credited service as justice, judge, or magistrate judge. 3-12-92.5
Adjustments in benefit for certain retirees based on time and circumstances of retirement. 3-12-93
Amount of benefits for justice or judge mandatorily retired. 3-12-94
Surviving spouse benefit of retired foundation member. 3-12-94.1
Allowance to surviving spouse of law enforcement officer retired for disability. 3-12-95
Family benefits on death of contributing member before retirement and before July 1, 2015. 3-12-95.1
Benefits payment on minor's behalf to be made to custodian or conservator. 3-12-95.2
Benefits payable directly to child at age eighteen--Elimination upon ineligibility. 3-12-95.3
Elimination of family benefit as children become ineligible. 3-12-95.4
Surviving spouse benefit of deceased member who was working. 3-12-95.5
Amount of surviving spouse benefit for foundation member. 3-12-95.6
Early surviving spouse benefit for foundation member's spouse. 3-12-96
Deductions of member's primary social security from benefits. 3-12-97
Family benefits in lieu of other death benefits--Election by designated beneficiary to withdraw accumulated contributions. 3-12-98
Disability benefits eligibility--Applications before July 1, 2015--Required information--Filing deadline. 3-12-99
Amount of monthly disability benefit--Applications before July 1, 2015. 3-12-99.1
Elimination or addition of disability benefit pertaining to children--Applications before July 1, 2015. 3-12-100
Criteria for determining disability--Uniform application. 3-12-101
Deduction of other public benefits from disability benefit--Reduction when children become ineligible--Applications before July 1, 2015. 3-12-102
Conversion of disability benefit to retirement benefit at retirement age--Applications before July 1, 2015. 3-12-103.1
Termination of disability benefit based on application before July 1, 2015. 3-12-104
Election of additional survivor protection--Commencement and termination of additional contribution. 3-12-104.1
Extension of survivor protection option to current contributing members--Limitation on future extensions. 3-12-104.2
New enrollments in additional survivor protection prohibited. 3-12-105
Amount of additional survivor protection benefits--Termination. 3-12-106
Early retirement benefits for foundation members. 3-12-107
Adjustment of early retirement benefits for foundation members who retire before eligible for social security. 3-12-108
Modified monthly benefit permitted--Time and effect of election. 3-12-109
Duplicate benefits prohibited unless from another member's contributions. 3-12-110
Refund of unpaid accumulated contributions upon termination--Reversion of unclaimed payments to system. 3-12-111
Suspension of retirement benefit during reemployment before July 1, 2004--Recalculation of additional benefit. 3-12-111.1
Suspension of retirement benefit during reemployment for members who reentered employment between July 1, 2004 and April 1, 2010--Benefit upon subsequent retirement. 3-12-112
Benefits only payable monthly--Lump-sum payments prohibited unless specified. 3-12-113
Time of termination of benefits. 3-12-114
Correction of records--Adjustment for underpayment or overpayment--Limitation .3-12-115
Exemption of contributions and benefits from taxation and process.3-12-115.1
Domestic relations orders--Determination as to whether qualified--Restrictions on provisions. 3-12-116
Lump-sum payments where designated beneficiary does not survive member--Reversion to system of unclaimed payments. 3-12-117
Investment of assets by investment council--Pooling of funds--Standards for investment--Compliance with federal divestiture enactments. 3-12-118
Quadrennial independent report on investment performance. 3-12-118.1
Alternative benefit enhancement methodology. 3-12-119
Review of investment policy when return lower than average--Report to Governor and Legislature. 3-12-120
Annual actuarial valuation of system--Scope of valuation. 3-12-120.1
to 3-12-120.3. Repealed .3-12-120.4
Minimum actuarial requirement to support benefits defined.3-12-121
Actuarial assumptions on which valuation based--Report of change. 3-12-122
System funding review--Report required for specified conditions--Recommended corrective action .3-12-122.1
Annual report of funded status of system.3-12-123
Intent to provide increased benefits to previously retired members of systems. 3-12-124
Increase in benefits for previously retired members of systems. 3-12-125
Adjustment of increase for retired members electing optional payment or early retirement. 3-12-126
Previously retired members paid from consolidated fund. 3-12-127
Members of consolidated systems entitled to benefits of prior law--Retention of Codified Laws. 3-12-128
Citation of chapter. 3-12-129
Calculating benefits of air rescue firefighter. 3-12-130
Conversion of credited service. 3-12-130.1
Purchase of certain public service as class B service. 3-12-131
Eligibility for benefits upon becoming full-time employee within twelve months after withdrawal. 3-12-132
Retirement benefits for certain city of Aberdeen employees. 3-12-133
Aberdeen firefighters to participate in system. 3-12-134
Eligible benefits for Aberdeen firefighters. 3-12-135
Amount to be paid by municipality of Aberdeen. 3-12-136
Funds from Aberdeen municipality considered member contributions. 3-12-138
, 3-12-140. Repealed. 3-12-141
Employer certification of inability to provide effective accommodations or comparable employment--Applications before July 1, 2015. 3-12-142
Disability documentation inadmissible for proceedings relative to workers' compensation. 3-12-143
Maximum amount of disability benefit--Reporting earned income--Applications before July 1, 2015. 3-12-144
to 3-12-152. Repealed. 3-12-153
Mitchell firefighters as members of system. 3-12-154
Benefits for Mitchell firefighters.
Calculation of Mitchell firefighter benefits. 3-12-156
Amount of payment to system by city of Mitchell. 3-12-157
Transfer of city of Mitchell firemen's pension plan funds as member contributions. 3-12-158
Information required of city of Mitchell. 3-12-159
Huron firefighters as members of system. 3-12-160
Benefits for Huron firefighters. 3-12-161
Calculation of Huron firefighter benefits. 3-12-162
Amount of payment to system by City of Huron. 3-12-163
Transfer of city of Huron firemen's pension plan funds as member contributions. 3-12-164
Information required of city of Huron. 3-12-165
to 3-12-188. Transferred. 3-12-189
Supplemental pension benefit created. 3-12-190
Interest rate assumption--Suspension of new supplemental pension contracts--No right to particular price. 3-12-191
Rollover of funds--Single premium--Contract effective upon signing--Payment of benefits. 3-12-192
Types of supplemental pension benefits. 3-12-193
Annual increase in supplemental pension benefits. 3-12-194
Death of participant or spouse--Lump sum distribution to beneficiaries--Time for making claim. 3-12-195
Contract purchases and benefit payments deemed qualified plan distributed annuity contracts. 3-12-196
Minimum distribution rules and annual benefit limitations. 3-12-197
Applicability of certain retirement system provisions. 3-12-198
Exemption from Title 58 and from securities and agent registration. 3-12-199
Invalid retirement--Repayment of retirement benefit payments. 3-12-200
Retired member who reenters covered employment after March 31, 2010--Benefits and membership. 3-12-201
Disability benefits eligibility--Applications after June 30, 2015. 3-12-202
Application for disability benefits--Required information--Filing deadline. 3-12-203
Employer certification of inability to provide accommodations or comparable employment. 3-12-204
Health care provider certification of disability. 3-12-205
Advice of disability advisory committee--Independent examination or assessment--Notice of disapproval of application. 3-12-206
Notice of approval of disability benefits--Commencement of benefits. 3-12-207
Calculation of disability benefits for foundation members. 3-12-207.1
Disability benefits for generational members. 3-12-208
No credited service for disability benefit period. 3-12-209
Contributions for period of employment while receiving disability benefits. 3-12-210
Termination of disability benefits. 3-12-211
Contributions upon return to covered employment. 3-12-212
Retirement benefit of member who received disability benefits and returned to covered employment. 3-12-213
Retirement benefit of member whose disability benefits were terminated but who did not return to covered employment. 3-12-214
Family benefit where member dies before normal retirement age while receiving disability benefits. 3-12-215
Surviving spouse benefit where foundation member received disability benefits. 3-12-216
Surviving spouse benefit where member dies after normal retirement age while receiving disability benefits.
Transfer of funds in cement plan retirement fund. 3-12-218
Members of cement plant retirement plan to be Class C members of system. 3-12-219
Class C members to receive benefits as provided under cement plant retirement plan. 3-12-220
Funds transferred from cement plant retirement fund considered member contributions. 3-12-221
Payment of benefits and operational expenses related to Class C members. 3-12-222
Promulgation of rules to administer retirement benefits for Class C members. 3-12-223
Member election to receive lump sum trustee-to-trustee payment in lieu of monthly payments. 3-12-224
Surviving spouse election to receive lump sum trustee-to-trustee payment in lieu of monthly payments. 3-12-225
to 3-12-499. Reserved. 3-12-500
Accumulated contributions defined for generational members. 3-12-501
Credited service defined for generational members .3-12-502
Final average compensation defined for generational members.3-12-502.1
Limitations on final average compensation for generational members. 3-12-503
Normal retirement age for generational members. 3-12-505
Normal retirement benefit for generational members for Class A credited service. 3-12-506
Normal retirement benefit for generational members for Class B credited service other than justice, judge, or magistrate judge. 3-12-507
Normal retirement benefit for generational members for Class B credited service as justice, judge, or magistrate judge. 3-12-508
Monthly benefit options for generational members. 3-12-509
Irrevocable benefit election by generational members. 3-12-510
Application for retirement benefit required. 3-12-511
Effective date of retirement benefit of generational member--Last payment. 3-12-512
Retroactive retirement benefits for generational members. 3-12-513
Early retirement benefits for generational members. 3-12-514
Surviving spouse benefit of retired generational member. 3-12-515
Surviving spouse benefit of generational member dying after normal retirement age but before benefit starts. 3-12-516
Amount of surviving spouse benefit for generational member. 3-12-517
Early surviving spouse benefit for generational member's spouse. 3-12-518
Reentry of employment by retired generational member. 3-12-519
Variable retirement accounts of generational members--Contributions and credited investment return. 3-12-520
Variable retirement contributions of generational members. 3-12-521
Distributions from generational member's variable retirement account.