61-5-29. Investment fee.
Employers required by this title to pay contributions, except employers pursuant to chapter 61-5A, that reimburse the unemployment compensation trust fund for benefits paid in lieu of contributions, shall also pay an employer's investment in South Dakota's future fee, hereinafter referred to as the, investment fee, on wages as defined by this title. The fee rate for employers not eligible for experience rating, as defined in §61-5-24, shall be seventy hundredths percent through calendar year 2006 and fifty-five hundredths percent on and after January 1, 2007. If an employer is eligible for experience rating, the employer's reserve ratio shall be determined pursuant to §61-5-25.3 through calendar year 2017, pursuant to §61-5-25.4 for calendar years 2018 and 2019, and pursuant to §61-5-25.5 for calendar year 2020 and each year thereafter, and the employer's investment fee rate shall be the rate appearing in column "A" on the same line the employer's reserve ratio appears in column "B" of the following rate schedule:
The terms and conditions of this title that apply to the payment and collection of contributions also apply to the payment and collection of the investment fee. Proceeds from the investment fee shall be deposited in the clearing account of the unemployment compensation fund for clearance only and may not become part of the fund. After clearance, the money derived from the investment fee payments, less refunds made pursuant to the provisions of this title, shall be deposited in the employer's investment in South Dakota's future special revenue fund as provided for in §61-5-29.1. No investment fee payment may be credited to the employer's experience-rating account nor may be deducted in whole or in part by any employer from the wages of individuals in its employ.
The investment fee rate may not be increased over the applicable 1987 investment fee rate for any employer with a positive balance in the employer's experience-rating account on the computation date, as established in rules promulgated by the secretary of labor and regulation pursuant to chapter 1-26, for the current year and the year preceding the current year.
The investment rates provided in this section apply to and are retroactive to taxable wages paid on and after January 1, 1993.
Source: SL 1987, ch 387, §5; SL 1988, ch 413, §4; SL 1989, ch 448, §4; SL 1991, ch 416, §4; SL 1993, ch 375, §28; SL 1993, ch 378, §4; SL 2006, ch 268, §1; SL 2011, ch 1 (Ex. Ord. 11-1), §33, eff. Apr. 12, 2011; SL 2011, ch 225, §3; SL 2011, ch 227, §1, eff. Mar. 17, 2011; SDCL §61-5-24.1; SL 2012, ch 252, §59; SL 2017, ch 217, §5; SL 2019, ch 217, §4.
Structure South Dakota Codified Laws
Title 61 - Reemployment Assistance
Chapter 05 - Employers' Contributions And Accounts
Section 61-5-1 - Employer subject to title for entire year.
Section 61-5-3 - Elective coverage of employer--Minimum period of coverage--Notice of termination.
Section 61-5-5 - Termination of elective coverage on notice by secretary.
Section 61-5-11 - Termination of coverage on application by employer no longer subject to title.
Section 61-5-15 - Termination of coverage on transfer of account to successor in business.
Section 61-5-17 - Termination of coverage on employer's cessation of business.
Section 61-5-18 - Provisions governing employers' contributions.
Section 61-5-23 - Rules establishing method of computing employers' contributions.
Section 61-5-25.1 - Employer's reserve ratio for 2007 through 2009.
Section 61-5-25.2 - Employer's contribution rates for 2010 through 2014.
Section 61-5-25.3 - Employer's reserve ratio--Contribution rates for 2015 through 2017.
Section 61-5-25.4 - Employer's reserve ratio--Contribution rates for 2018 through 2019.
Section 61-5-25.5 - Employer's reserve ratio--Contribution rates for 2020 and thereafter.
Section 61-5-27 - Reduced rate refused for delinquencies.
Section 61-5-28.1 - Administrative fee.
Section 61-5-29 - Investment fee.
Section 61-5-29.1 - Employer's investment in state's future fund--Purposes--Expenditures.
Section 61-5-31 - Interest on negative balance in employer's experience rating account.
Section 61-5-33 - Rights of appeal under political subdivision coverage.
Section 61-5-34 - Voluntary additional contributions credited to employer's account.
Section 61-5-35 - Contributions paid in accordance with rules.
Section 61-5-36 - Deduction of contributions from wages prohibited.
Section 61-5-37 - Contributions credited to experience-rating accounts.
Section 61-5-43 - Circumstance warranting return of experience-rating accounts to sellers.
Section 61-5-48 - Rules to implement application of § 61-5-46.
Section 61-5-49 - Definitions applicable to §§ 61-5-46 to 61-5-48.
Section 61-5-50 - Interpretation and application of §§ 61-5-46 to 61-5-49 to meet federal standards.
Section 61-5-51 - Waiver of mandatory transfer of experience-rating account--Conditions.
Section 61-5-52 - Procedures to identify transfer or acquisition of business.
Section 61-5-53 - Pooled fund maintained by department--Moneys credited.
Section 61-5-56 - Adjustment and refund of erroneous contributions.
Section 61-5-57 - Interest on delinquent contributions.
Section 61-5-58 - Penalty for failure to timely pay contributions or submit reports.
Section 61-5-60 - Notice of lien filed with register of deeds.
Section 61-5-63 - Return of uncollectible distress warrant.
Section 61-5-64 - Liability of county officer for failure to issue or execute distress warrant.
Section 61-5-65 - Satisfaction of lien recorded on payment of contributions.
Section 61-5-66 - Civil action for collection of contributions--Preference on court calendar.
Section 61-5-67 - Action in South Dakota for contributions to other states--Reciprocity.
Section 61-5-68 - Priority of contribution claims in state insolvency proceedings.
Section 61-5-69 - Priority of contribution claims in bankruptcy proceedings.
Section 61-5-70 - Cancellation of uncollectible unemployment insurance contributions.