Title 3, PUBLIC OFFICERS AND EMPLOYEES

The municipality of Aberdeen shall pay to the system an amount equal to the present value of all benefits earned by individuals described in § 3-12C-1621 up to July 1, 1994, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial con…

Any amount transferred to the system from the municipality of Aberdeen firemen's relief and pension fund, which under the fund was credited to the accounts of individual employees, is considered a member contribution. Source: SL 1994, ch 37 , § 4; SDCL § 3-12-136; SL 2019, ch 22 …

On July 1, 1995, all members of the city of Watertown firemen pension fund as of June 30, 1995, including all retirees and benefit recipients, shall become members of the system. Each individual shall receive credited service under the system for all service earned under the city…

Each individual described in § 3-12C-1625 shall receive the same benefit under the form of annuity provided by the city of Watertown firemen pension fund in effect on June 30, 1995, which benefit shall be increased on July 1, 1995, and thereafter in accordance with § 3-12C-703 . …

The city of Watertown shall pay to the system an amount equal to the present value of all benefits earned by individuals described in § 3-12C-1625 prior to July 1, 1995, and multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial con…

Any amount transferred to the system from the city of Watertown firemen pension fund, which under the fund was credited to the accounts of individual employees, is considered a member contribution. Source: SL 1995, ch 19 , § 4; SDCL § 3-12-62.13; SL 2019, ch 22 , § 1; SL 2025, ch…

On July 1, 1996, all members of the City of Mitchell firemen's pension plan as of June 30, 1996, including all retirees, vested inactive members, and benefit recipients, shall become members of the system. Each member shall receive credited service under the system for all servic…

Each retired member or benefit recipient described in § 3-12C-1629 shall receive the same benefit under the form of annuity provided by the city of Mitchell firemen's pension plan as in effect on June 30, 1996, except for the COLA. Each benefit shall be increased on July 1, 2008,…

Upon retirement, each member described in § 3-12C-1629 who is a vested inactive member on July 1, 1996, or an active firefighter in the employ of the city of Mitchell on July 1, 1996, shall receive the greater of: (1) The member's retirement benefit calculated under this chapter;…

The city of Mitchell shall pay to the system an amount equal to the present value of all benefits earned by the members described in § 3-12C-1629 up to July 1, 1996, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition o…

Any amount transferred to the system from the city of Mitchell firemen's pension plan, which under the plan was credited to the accounts of individual employees, is considered a member contribution. Source: SL 1996, ch 28 , § 5; SDCL § 3-12-157; SL 2019, ch 22 , § 1; SL 2025, ch …

For purposes of payment of retiree benefits pursuant to § 3-12C-1630 and to calculate the minimum benefit pursuant to § 3-12C-1631 , the city of Mitchell shall provide the following information: (1) Each retired firefighter's benefit as of June 30, 1996, plus that benefits' COLA;…

On July 1, 1998, all members of the city of Huron firemen pension fund as of June 30, 1998, including all retirees, any deferred vested members and any benefit recipients, shall become members of the system. Each active member shall receive credited service under the system for a…

Each retired member, any benefit recipient, or any deferred vested member described in § 3-12C-1635 and in such status before July 1, 1998, shall receive the member's previously selected annuity option as provided under the city of Huron firemen pension fund as in effect on June …

Upon retirement, each member described in § 3-12C-1635 who is an active firefighter in the employ of the city of Huron on July 1, 1998, shall receive the greater of: (1) The member's retirement benefit calculated under this chapter; or (2) The member's retirement benefit calculat…

The city of Huron shall pay to the system an amount equal to the present value of all benefits earned by the members described in § 3-12C-1635 up to July 1, 1998, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial condition of t…

Any amount transferred to the system from the city of Huron firemen pension fund, which under the fund was credited to the accounts of individual members, is considered a member contribution. Source: SL 1998, ch 22 , § 5; SDCL § 3-12-163; SL 2019, ch 22 , § 1; SL 2025, ch 27 , § …

For purposes of payment of retirement or other benefits pursuant to § 3-12C-1636 and to calculate the minimum benefit pursuant to § 3-12C-1637 , the city of Huron shall provide the following information: (1) Each retired firefighter's benefit and form of payment as of June 30, 19…

Notwithstanding the provisions of § 3-12C-306 , any employee of the municipality of Sioux Falls who begins working after June 30, 2013, as a full-time employee shall be a member of the system if the municipality of Sioux Falls elects to be a participating unit by a duly passed re…

Upon receipt of the appropriation pursuant to SL 2014, ch 21, § 1, the state treasurer shall transfer the balance of the funds of the cement plant retirement fund to the South Dakota Retirement System trust fund. Source: SL 2014, ch 21 , § 2, eff. Apr. 1, 2014; SDCL § 3-12-217 SL…

On April 1, 2014, all members of the cement plant retirement plan, including any retiree and any vested member, become Class C members of the system. The administration of retirement benefits for Class C members shall continue with the system. Source: SL 2014, ch 21 , § 3, eff. A…

Each Class C member shall receive the same benefit as provided pursuant to the member's respective cement plant retirement plan as in effect on June 30, 2013. The benefits of any Class C member and the member's beneficiaries shall be paid from the fund established by this chapter…

Any amount transferred to the system from the cement plant retirement fund pursuant to § 3-12C-1642 , which under the cement plant retirement plan was credited to the accounts of individual members, is considered a member contribution. Source: SL 2014, ch 21 , § 5, eff. Apr. 1, 2…

Notwithstanding the provisions of § 3-12C-210 , any benefit payments and any operational expenses related to Class C members shall be paid from the fund established by this chapter. Source: SL 2014, ch 21 , § 6, eff. Apr. 1, 2014; SDCL § 3-12-221 ; SL 2019, ch 22 , § 1.

The board may, pursuant to chapter 1-26 , adopt rules to establish uniform procedures for the administration of the retirement benefits of Class C members. Source: SL 2014, ch 21 , § 7, eff. Apr. 1, 2014; SDCL § 3-12-222 ; SL 2019, ch 22 , § 1.

Any vested member of the state cement plant retirement plan may elect to receive a lump sum trustee-to-trustee payment in lieu of monthly retirement benefit payments. The amount of the lump sum trustee-to-trustee payment shall be determined by the system's actuary based on the ac…

Upon the death of a vested member of the state cement plant retirement plan who died prior to starting a monthly retirement benefit, the member's surviving spouse may elect a lump sum trustee-to-trustee payment in lieu of monthly surviving spouse benefit payments. The amount of t…

As of July 1, 2020, each member of the Department of Labor and Regulation employees’ retirement plan, including any retiree and any vested member, is a Class D member of the system. No additional member may be added to Class D. The administration of retirement benefits for Class …

Each Class D member shall receive the same benefit as provided pursuant to the Department of Labor and Regulation employees’ retirement plan as in effect on June 30, 2020, and in accordance with chapter 3-13C. Each Class D member's benefit shall be annually increased by the COLA …

For purposes of determining the benefits of correctional security staff, for credited service earned prior to July 1, 1978, the benefits shall be calculated pursuant to § 3-12C-1106 and for credited service after July 1, 1978, the benefits shall be calculated pursuant to § 3-12C-…

For purposes of determining the benefits of a county sheriff or a deputy county sheriff for credited service earned prior to January 1, 1980, the benefits are calculated pursuant to § 3-12C-1106 . For credited service after January 1, 1980, the benefits are calculated pursuant to…

For purposes of determining the benefits of a parole agent, for credited service earned prior to July 1, 1991, the benefits shall be calculated pursuant to § 3-12C-1106 and for credited service after June 30, 1991, the benefits shall be calculated pursuant to § 3-12C-1107 . Sourc…

For purposes of determining the benefits of an air rescue firefighter, for credited service earned prior to July 1, 1992, the benefits shall be calculated pursuant to § 3-12C-1106 and for credited service after June 30, 1992, the benefits shall be calculated pursuant to § 3-12C-1…

For purposes of determining the retirement benefits of a foundation member conservation officer for credited service earned before July 1, 1983, the benefits are calculated pursuant to § 3-12C-1106 . For credited service earned after June 30, 1983, the benefits are calculated pur…

To determine the retirement benefits of a conservation officer employed by the Department of Game, Fish and Parks, Division of Custer State Park, and a park ranger, for credited service earned prior to July 1, 1995, the benefits are calculated pursuant to § 3-12C-1106 . For credi…

For purposes of §§ 3-12C-1801 to 3-12C-1817 , inclusive, a participant is a member, retiree, or the surviving spouse of a member or retiree, who is eligible to participate in the qualified benefit preservation arrangement as determined by § 3-12C-1804 . Source: SL 2020, ch 14 , §…

For purposes of §§ 3-12C-1801 to 3-12C-1817 , inclusive, the qualified benefit preservation arrangement is an arrangement under section 415(m) of the Internal Revenue Code and established in § 3-12C-1803 . Source: SL 2020, ch 14 , § 2; SL 2025, ch 27 , § 73.

The qualified benefit preservation arrangement is established and placed under the management of the board. The purpose of the qualified benefit preservation arrangement is solely to provide a portion of the benefit that would otherwise have been payable by the system except for …

Effective as of July 1, 2020, a participant is eligible to participate in the qualified benefit preservation arrangement for any calendar year, or portion of the calendar year, during which the participant is entitled to receive a benefit payment from the system, but the benefit …

A participant shall receive a portion of the participant's benefit that is equal to the difference between the amount of that participant's monthly retirement benefit paid under the system and the amount that would have been payable to the participant from the system in that mont…

After retirement, the monthly retirement benefit that would have been payable to the participant if not for the application of section 415(b) of the Internal Revenue Code will increase with any cost of living adjustment as determined by the system, and the applicable benefit limi…

The qualified benefit preservation arrangement is, and shall remain, unfunded within the meaning of federal tax laws, and the rights, if any, of any participant to any benefit under the qualified benefit preservation arrangement are limited to those specified in this part. Source…

The system must determine the amount necessary to pay the benefits under § 3-12C-1805 , for each calendar year. The required contribution is the aggregate of the benefits payable under § 3-12C-1805 to all participants for the calendar year and an amount determined to be a necessa…

The qualified benefit preservation arrangement trust fund is established as a valid trust under the laws of the state, separate from the system fund, to hold contributions of the employers. Contributions to the qualified benefit preservation arrangement fund shall be held separat…

Any assets held by the qualified benefit preservation arrangement to assist in meeting the employer's obligations under the qualified benefit preservation arrangement, including all employer contributions made under the qualified benefit preservation arrangement, all property and…

The system shall administer the qualified benefit preservation arrangement. The system shall compile and maintain all records necessary for administration. The board has the same rights, duties, and responsibilities respecting the qualified benefit preservation arrangement as it …