43-45-16. Exemption from process for certain retirement benefits--Right of state to collect.
Any person has the right to select and designate a total of one million dollars and the income and distributions therefrom from the employee's benefit plans as exempt from execution, attachment, garnishment, seizure, or taking by any legal process. This exemption is subject to the right of the State of South Dakota and its political subdivisions to collect any amounts owed to them. This section permits benefits under such plan or arrangement to be payable to a spouse, former spouse, child, or other dependent of a participant in such plan to the extent expressly provided for in a qualified domestic relations order as defined in 29 U.S.C. §1056(d) or in §401(a)(13) of the Internal Revenue Code.
Source: SL 1997, ch 250, §2; SL 2007, ch 252, §1.
Structure South Dakota Codified Laws
Chapter 45 - Personal Property Exempt From Process
Section 43-45-1 - Scope of exemptions of personal property.
Section 43-45-2 - Property absolutely exempt.
Section 43-45-4 - Additional property exemptions--Selection and appraisal.
Section 43-45-7 - Persons to whom exemptions do not apply.
Section 43-45-8 - Exemption not allowed for purchase money or construction costs.
Section 43-45-13 - Certain federal bankruptcy exemptions not available.
Section 43-45-14 - Exemption of earnings from garnishment process or levy-Bankruptcy.
Section 43-45-15 - Legislative intent.
Section 43-45-17 - Employee benefit plan defined.
Section 43-45-18 - Court determination of appropriate exemption.