CHAPTER 3-12
SOUTH DAKOTA RETIREMENT SYSTEM
3-12-1
Repealed.
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 Repealed.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
Effect of credited service provision.
3-12-47.2
Refund for purchase cost of noncontributing service.
3-12-47.3
Date of application of prorated payment of interest.
3-12-47.4
Date of application of prorated payment of improvement factor.
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 and term of administrator--Salary--Employment of personnel--Bond of
administrator.
3-12-56
Applications to administrator for membership or benefits.
3-12-57
Repealed.
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.
3-12-62.7
Repealed.
3-12-62.8
Conservation officers--Calculation of benefits.
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 the 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.
3-12-68
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 allowance to terminated member with vested right--Calculation.
3-12-76
Withdrawal of accumulated contributions on termination of public service--Exception.
3-12-76.1
Withdrawal of accumulated contributions by member who does not terminate public
service.
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.
3-12-77.2
Forfeiture of contributions to predecessor system.
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.
3-12-79
Repealed.
3-12-80
Redeposit of contributions by member returning to service--Time of redeposit.
3-12-81
Repealed.
3-12-81.1
Reemployment of retired member--Termination of relationship with initial
participating unit--Hiring procedures.
3-12-82
Retirement allowances for members who reentered covered employment between
July 1, 2004 and 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.
3-12-87
Valuation of purchased prior service credit--Installment payments--Death of member--Adjustment when installments not paid.
3-12-88
Benefits increased by improvement factor--Increase elimination.
3-12-89
Uniform application of service credit rules.
3-12-89.1
Rules regulating maximum annual benefit required.
3-12-90
Commencement of benefits on early or normal retirement--Termination of benefits--Maximum retroactive benefits on late application.
3-12-90.1 to 3-12-90.5. Repealed.
3-12-90.6 to 3-12-90.8. Repealed.
3-12-90.9
Repealed.
3-12-90.10
Repealed.
3-12-91
Amount of normal retirement allowance for class A members.
3-12-91.1
Additional contribution by participating unit.
3-12-92
Amount of normal retirement allowance for certain class B members.
3-12-92.1
Penitentiary correctional 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
Amount of retirement allowance for justice, judge, or magistrate judge.
3-12-92.5
Repealed.
3-12-92.6
Adjustments in allowance 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
Spouse's allowance on death of member after retirement age.
3-12-94.1
Allowance to surviving spouse of law enforcement officer retired for disability.
3-12-95
Family benefits payable on death of contributing member before retirement.
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.
3-12-96
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
Eligibility for disability allowance--Filing deadline.
3-12-99
Amount of monthly disability allowance.
3-12-99.1
Elimination or addition of disability allowances pertaining to children.
3-12-100
Criteria for determining disability--Uniform application.
3-12-101
Deduction of other public benefits from disability allowance--Reduction when
children become ineligible--Amount of allowance.
3-12-102
Repealed.
3-12-103
Conversion of disability allowance to normal retirement allowance at retirement age.
3-12-103.1
Termination of disability allowance.
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--Reduction of monthly payments.
3-12-107
Adjustment of early retirement benefits so greater initial benefits equal later lesser
benefits when combined with social security.
3-12-108
Modified monthly allowance permitted--Time and effect of election.
3-12-109
Duplicate benefits prohibited unless from another member's contributions.
3-12-110
Balance of accumulated contributions refunded to beneficiary or family--Reversion
to system of unclaimed payments.
3-12-111
Suspension of retirement allowance during reemployment prior to July 1, 2004--Recalculation of additional allowance.
3-12-111.1
Suspension of retirement allowance during reemployment for members who
reentered employment between July 1, 2004 and April 1, 2010--Allowance upon
subsequent retirement.
3-12-112
Benefits payable only as monthly allowance--Lump-sum payments prohibited unless
specified.
3-12-113
Time of termination of benefits.
3-12-114
Correction of errors--Adjustment to actuarial equivalent.
3-12-115
Exemption of contributions and benefits from taxation and process.
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--Contents of report.
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
Independent actuarial review of retirement system mandated--Issues.
3-12-120.2
Committee to request proposals--Designation of actuary--Date of report.
3-12-120.3
Payment for review.
3-12-121
Actuarial assumptions on which valuation based--Report of change.
3-12-122
System funding review--Report required upon existence of specified conditions--Recommended changes.
3-12-123
Intent to protect 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 by
administrator of Compiled Laws and supplements.
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
Repealed.
3-12-139
No additional benefits where allowance terminated prior to July 1, 1994.
3-12-140
Regaining credited service lost due to mandatory refunds.
3-12-141
Employer certification of inability to provide effective accommodations or
comparable employment.
3-12-142
Disability documentation inadmissible for proceedings relative to workers'
compensation.
3-12-143
Maximum amount of disability allowance--Reporting earned income.
3-12-144 to 3-12-152. Repealed.
3-12-153
Mitchell firefighters as members of system.
3-12-154
Benefits for Mitchell firefighters--Improvement factor.
3-12-155
Retirement of Mitchell firefighters.
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--Improvement factor.
3-12-161
Retirement of Huron firefighters.
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
Type of supplemental pension benefits based on marital status.
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 annuity payments.
3-12-200
Retired member who reenters covered employment on or after April 1, 2010--Benefits and membership.