3-13A SOUTH DAKOTA SPECIAL PAY RETIREMENT PROGRAM
SOUTH DAKOTA SPECIAL PAY RETIREMENT PROGRAM
Special pay retirement program established.
Special pay fund established.
Board controls program as fiduciary--Promulgation of rules.
Transfer of special pay to fund upon termination of employment--Contribution limit.
Time for transfer of compensation to trust.
Vesting of participant account--Forfeiture.
Investment of funds.
Lump-sum distribution to participant.
Investment alternatives--Transfer of account balances by participants.
Transfer of funds from terminated investment selection.
Allocation of investment return among participant accounts--Accounting dates.
Valuation of investment alternatives.
Beneficiaries of participant's account.
Payments and benefits under program not assignable or subject to creditors' actions.
Powers and duties of administrator.
Election by participating units of retirement system to participate in program--Rescission of participation.
Trustee-to-trustee transfer of participant's account to government defined-benefit
Rollover transfer of participant's account.
Rollover transfer of participant's account in another plan.
Distribution from participant's account--Forms of distribution--Time for election.
Date for commencement of annuity distributions--Interest--Distribution after
State investment officer to act as fiduciary--Certain persons prohibited from acting
as third-party administrator or vendor.
Limitation of liability to participants.