Title 3 — PUBLIC OFFICERS AND EMPLOYEES

Except as provided in § 3-12C-1401.1 , a retired member's retirement is invalid if the member is reemployed by a participating unit unless the member's employment relationship with the initial participating unit has been terminated, as defined in this chapter and as required purs…

The provisions of § 3-12C-1401 do not apply if the retired member is at least fifty-nine and a half years of age when the member begins receiving retirement benefits and is employed for less than twelve hundred fifty hours during the fiscal year of the participating unit. However…

If a retired member becomes reemployed by the same employer unit the member retired from within one year after the member's retirement, the system may require both the member and the employer unit to certify that: (1) The member's termination was a complete severance of employmen…

If a retired member whose benefits have been reduced pursuant to § 3-12C-1111 becomes employed as a permanent full-time employee by a participating unit before July 1, 2004, the member's monthly retirement benefit shall be reduced by fifteen percent and the COLA shall be eliminat…

If less than three years of contributory service or noncontributory service is acquired after a retired member's reentry into covered employment, the member upon subsequent retirement must receive a refund of the member's accumulated contributions. If three years or more of contr…

If a retired member whose benefits have been reduced pursuant to § 3-12C-1111 becomes employed as a permanent full-time employee by a participating unit on or after July 1, 2004, but before April 1, 2010, the member's monthly retirement benefit must be reduced by fifteen percent …

Except as provided for in § 3-12C-1405.1 , if a retired member reenters covered employment at some time after the three consecutive calendar months that start with the member's effective date of retirement, the member's retirement benefits and continued membership must be adminis…

. The provisions of § 3-12C-1405 do not apply if the retired member is reemployed for less than twelve hundred fifty hours during the fiscal year of the participating unit. However, if the retired member completes twelve hundred fifty hours or more during a fiscal year of the par…

Any participating unit employing a retired member for less than twelve hundred fifty hours during the fiscal year of the participating unit is responsible for tracking the hours of the employee and certifying the hours to the system on a monthly basis. Source: SL 2021, ch 29 , § …

Except as provided in § 3-12C-1401.1 , if a retired member reenters employment within the three consecutive calendar months that start with the member's effective date of retirement, the member's retirement is deemed invalid. If the member received one or more retirement benefit …

There is hereby established the South Dakota Retirement System supplemental pension benefit. The supplemental pension benefit shall be within and integral to the South Dakota Retirement System. It is the intent of the Legislature that the provisions related to the supplemental pe…

On an annual basis, at minimum, the board shall establish an interest rate assumption upon which the provisions of subsequent supplemental pension contracts shall be based. The board shall establish the assumption on the basis of the recommendations of the system's actuary and th…

A participant's monthly supplemental pension benefit is based on the participant's single premium and the current interest rate assumption at the time of purchase, and must take into account the participant's age, gender, and marital status at the time of purchase. A participant …

A member who is a retiree receiving a benefit from the system, or, if the member is deceased, the member's surviving spouse who is receiving a benefit from the system and is a beneficiary of the funds subject to this section, may become a supplemental pension participant by direc…

A supplemental pension participant who is a retiree receiving a benefit from the system shall receive one of three types of supplemental pension benefits: (1) A supplemental pension benefit payable monthly for the lifetime of the participant; (2) A supplemental pension benefit pa…

The system may pay the participant's monthly supplemental pension benefit and the participant's monthly retirement benefit in separate payments. Each payment is a separate benefit, including provision of a separate Internal Revenue Service Form 1099-R for each payment by the syst…

A participant who is married at the time that the participant contracts for a supplemental pension benefit shall provide a copy of the participant's marriage license to the system. Source: SL 2025, ch 27 , § 57.

A supplemental pension participant shall receive a COLA applicable to the participant's supplemental pension benefit for each year commencing on the July first following the date on which the benefit was first payable, and equal to the COLA determined under §

A supplemental pension spouse's benefit must receive an annual increase in the same manner as does a participant's benefit. Source: SL 2025, ch 27 , § 58.

For purposes of calculating any beneficiary payment, a participant's single premium does not increase in value during the period of the supplemental pension contract. Source: SL 2025, ch 27 , § 59.

If payment of monthly supplemental pension benefits ceases due to the death of the participant or the death of a supplemental pension spouse, and the total of monthly supplemental pension benefits paid is less than the amount of the participant's single premium, the difference be…

Supplemental pension contract purchases and supplemental pension benefit payments administered pursuant to the provisions of §§ 3-12C-1501 to 3-12C-1510 , inclusive, are considered to be qualified plan distributed annuity contracts under Internal Revenue Service Treasury Regulati…

Any supplemental pension benefit calculation or payment is deemed to be reasonable and made in good faith under § 401(a)(9) of the Internal Revenue Code. Source: SL 2025, ch 27 , § 60.

Supplemental pension benefit payments shall follow the minimum distribution rules of § 401(a)(9) of the Internal Revenue Code and as set forth in §§ 3-12C-1901 to 3-12C-1905, inclusive, and the annual benefit limitations of § 415(b)(1)(A) of the Internal Revenue Code and as set f…

Supplemental pension benefits are not subject to the duplicate benefit provisions of § 3-12C-709 , to the participant reemployment restrictions of § 3-12C-703 , 3-12C-1402 , 3-12C-1403 , 3-12C-1404 , 3-12C-1405 or 3-12C-1406 , nor to the benefit adjustment provisions of § 3-12C-1…

While performing their official duties under the provisions of §§ 3-12C-1501 to 3-12C-1510 , inclusive, the board, the employees of the system, the system's actuary, the State Investment Council, and the employees of the State Investment Council are exempt from the provisions of …

For purposes of this chapter, a member of the system who has received payment of at least one monthly retirement benefit is a retiree, even if the member has returned to employment with a member unit, either with or without suspension of the retirement benefit. Source: SL 2025, c…

The Supreme and Circuit Court Judicial Retirement System, district county court and municipal court judges retirement program, South Dakota Teachers Retirement System, South Dakota Municipal Retirement System, South Dakota Law Enforcement Retirement System, and South Dakota Publi…

It is the intent of the Legislature of the State of South Dakota to provide increased benefits for the already retired members of the retirement systems consolidated into the South Dakota Retirement System created by this chapter and to provide the financial resources necessary t…

Any retired members of the Supreme and Circuit Court Judicial Retirement System, District County Court and Municipal Court Judges Retirement Program, South Dakota Teachers Retirement System, South Dakota Municipal Retirement System, South Dakota Law Enforcement Retirement System,…

The amount calculated under subdivision 3-12C-1603(2) will be adjusted to its actuarial equivalent if the retired member had elected an optional form of payment other than the normal form provided by the retirement system from which the member retired, or if the age of a retired …

Notwithstanding the repeal on July 1, 1974, of chapters 3-12 ; 3-13 ; 9-15 ; 13-45 ; certain provisions of chapter 16-8 ; chapter 16-11A , and certain provisions of chapter 33-13 , persons retired under those programs, and teachers retired under the provisions of chapter 51 of th…

Notwithstanding the repeal on July 1, 1974, of chapters 3-12 , 3-13 , 9-15 , 13-45 , certain provisions of chapter 16-8 , chapter 16-11A , and certain provisions of chapter 33-13 , all members of systems established thereunder are entitled to retire at the age, with the length of…

Any justice of the Supreme Court or judge of the circuit court of this state who is automatically retired pursuant to the provisions of § 16-1-4.1 or 16-6-31 , or who, having reached age seventy, retired before January 7, 1975, and who has not fully qualified for retirement benef…

Terms as used in §§ 3-12C-1608 to 3-12C-1612 , inclusive, unless the context otherwise requires, shall mean: (1) "Board of Regents' balance," the contributions from April 1, 1964, to June 30, 1975, plus accumulated interest, made by the Board of Regents and deposited on behalf of…

Nothing in §§ 3-12C-1608 to 3-12C-1612 , inclusive, shall be construed to be a termination of any contract made on behalf of the State of South Dakota and its employees by the Board of Regents. The purpose of said sections is to expand the retirement plan of the Board of Regents …

The Board of Regents shall enter into a contractual agreement with the Board of Trustees on the same basis as a new participating unit for purchase of a maximum of twenty years of service prior to April 1, 1964, pursuant to the provisions of § 3-12C-308 and subject to the provisi…

Employees of the Board of Regents shall be credited with contributory service for each year such employee participated in the retirement plan in effect between April 1, 1964, and June 30, 1975. Employees of the Board of Regents who did not participate during all the years that th…

All benefits payable pursuant to § 3-12C-1106 must be reduced by the actuarial equivalent that could be purchased by a sum of money equal to twice the value of the Board of Regents' balance payable at the member's retirement. The Board of Regents is hereby authorized, if the Boar…

The surviving spouse of a disability retiree under the Law Enforcement Officers' Retirement System as consolidated into the South Dakota Retirement System pursuant to § 3-12C-1601 shall upon the death of the member be entitled to an annuity equal to one-half the member's annuity …

Source: SL 1980, ch 33 , § 2; SL 2011, ch 1 (Ex. Ord. 11-1), § 33, eff. Apr. 12, 2011; SL 2012, ch 26 , § 9; SL 2016, ch 31 , § 6.; SDCL § 3-12-62.1; SL 2019, ch 22 , § 1; SL 2020, ch 13 , § 7.

On July 1, 1982, all employees of the municipality of Rapid City who are participants in the municipality of Rapid City firemen pension fund on June 30, 1982, and all retirees receiving benefits from that fund shall become members of the system. Each employee shall receive credit…

Upon retirement, each employee described in § 3-12C-1615 shall receive the greater of: (1) The member's retirement benefit calculated under this chapter; or (2) The retirement benefit calculated under the municipality of Rapid City firemen pension fund based on credited service u…

The benefits of the retirees described in § 3-12C-1615 who are entitled to receive benefits from the municipality of Rapid City firemen pension fund on July 1, 1982, shall be paid from the fund established by this chapter. Source: SL 1982, ch 37 , § 3; SL 1992, ch 60 , § 2; SDCL …

The municipality of Rapid City shall pay to the system an amount equal to the present value of all benefits earned by employees described in § 3-12C-1615 up to July 1, 1982, multiplied by the funding ratio set forth in the valuation of the actuarial requirements and financial con…

All amounts transferred to the system from the municipality of Rapid City firemen pension fund which, under the fund, were credited to the accounts of individual employees shall be considered employee contributions under this chapter. Source: SL 1982, ch 37 , § 5; SL 1992, ch 60 …

To determine the retirement benefits of Aberdeen ambulance attendants, campus security officers, and court services officers, for credited service earned prior to July 1, 1993, the benefits shall be calculated pursuant to § 3-12C-1106 and for credited service after June 30, 1993,…

On July 1, 1994, all members of the municipality of Aberdeen firemen's relief and pension fund on June 30, 1994, including all retirees and benefit recipients, shall become members of the system. Each individual shall receive credited service under the system for all service earn…

Each individual described in § 3-12C-1621 shall receive the same benefit provided by the municipality of Aberdeen firemen's relief and pension fund on June 30, 1994, and the benefit shall be increased on July 1, 1994, and thereafter in accordance with §

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…