3-13A-1. Special pay retirement program established.
There is hereby established the South Dakota special pay retirement program. It is the intent of the Legislature that the special pay retirement program shall become a qualified plan under §401(a) of the code and that the program shall be treated as a governmental plan under §414(d) of the code. It is the further intent of the Legislature that special pay transmitted to the fund is picked up by the participating unit and thus shall be designated as an employer contribution under §414(h)(2) of the code.
Source: SL 2004, ch 43, §1; SDCL, §3-12-165; SL 2005, ch 28, §1.
Structure South Dakota Codified Laws
Title 3 - Public Officers and Employees
Chapter 13A - South Dakota Special Pay Retirement Program
Section 3-13A-1 - Special pay retirement program established.
Section 3-13A-2 - Definitions.
Section 3-13A-3 - Special pay fund.
Section 3-13A-4 - Board controls program as fiduciary--Promulgation of rules.
Section 3-13A-6 - Time for transfer of compensation to trust.
Section 3-13A-7 - Participant account.
Section 3-13A-8 - Vesting of participant account--Forfeiture.
Section 3-13A-9 - Investment of funds.
Section 3-13A-10 - Lump-sum distribution to participant.
Section 3-13A-11 - Investment alternatives--Transfer of account balances by participants.
Section 3-13A-12 - Transfer of funds from terminated investment selection.
Section 3-13A-13 - Allocation of investment return among participant accounts--Accounting dates.
Section 3-13A-14 - Valuation of investment alternatives.
Section 3-13A-15 - Beneficiaries of participant's account.
Section 3-13A-17 - Powers and duties of executive director.
Section 3-13A-20 - Rollover transfer of participant's account.
Section 3-13A-21 - Rollover transfer of participant's account in another plan.
Section 3-13A-23 - Annuity distributions date.
Section 3-13A-23.1 - Required minimum distributions--General rule.
Section 3-13A-23.2 - Required minimum distributions--Participant's death after distributions begun.
Section 3-13A-23.3 - Required minimum distributions--Participant's death before distributions begun.
Section 3-13A-23.4 - Required minimum distributions--Reasonable and made in good faith.
Section 3-13A-23.5 - Required minimum distributions--Participant's death after December 31, 2021.
Section 3-13A-23.6 - Required minimum distributions--Waiver of 2020.