South Dakota § 3-12C-1001 Election of additional survivor protection--Commencement and termination--Additional terms.

South Dakota Statutes

§ 3-12C-1001 — Election of additional survivor protection--Commencement and termination--Additional terms.

South Dakota·Title 3 PUBLIC OFFICERS AND EMPLOYEES·Ch. 3-12B SOUTH DAKOTA RETIREMENT SYSTEM

Within three hundred sixty-five days of becoming a member, within ninety days of attaining age thirty-five, or within ninety days of the first anniversary of a marriage, a member may elect to provide the member's spouse with additional survivor protection by increasing the member's contribution by an additional one and five-tenths percent of compensation, which additional contribution may not be matched by the member's employer. The additional contribution must commence with the first payroll period following the date of the election. The additional contribution must continue until one of the following occurs:

(1)The member's spouse attains the age sixty-five;

(2)The death or disability of the member;

(3)The death of the spouse;

(4)The termination of the member's employment

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Within three hundred sixty-five days of becoming a member, within ninety days of attaining age thirty-five, or within ninety days of the first anniversary of a marriage, a member may elect to provide the member's spouse with additional survivor protection by increasing the member's contribution by an additional one and five-tenths percent of compensation, which additional contribution may not be matched by the member's employer. The additional contribution must commence with the first payroll period following the date of the election. The additional contribution must continue until one of the following occurs: (1) The member's spouse attains the age sixty-five; (2) The death or disability of the member; (3) The death of the spouse; (4) The termination of the member's employment; or (5) The termination of the marriage through a divorce decree or an annulment. The additional contribution may not be treated as a member contribution for purposes of determining the amount of refund of accumulated contributions. Contributions paid prior to January 1, 1979, must be considered part of accumulated contributions for determining the amount of refund if the member terminates employment. Notwithstanding any other provision of this section, a member who is currently contributing to the system may terminate the additional survivor protection under this section, but all funds contributed for the additional survivor protection must remain with the system and may not be considered as part of the member's accumulated contributions. For purposes of implementing this section, the one and two-tenths percent contribution for additional survivor protection was applied to all compensation received on or after July 1, 2004, regardless of when that compensation was earned, and the one and five-tenths percent of compensation must be applied to all compensation received on or after July 1, 2010, regardless of when the compensation was earned.

South Dakota § 3-12C-1001 (Election of additional survivor protection--Commencement and termination--Additional terms.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1974, ch 35, § 58; SL 1976, ch 40, § 4; SL 1977, ch 28, § 12; SL 1978, ch 33, §§ 1, 3; SL 1982, ch 32, § 6; SL 1995, ch 21; SL 1998, ch 15, § 20; SL 1998, ch 21, § 1; SL 2004, ch 41, § 1; SL 2010, ch 22, § 1; SDCL § 3-12-104; SL 2019, ch 22, § 1; SL 2025, ch 27, § 48.