South Dakota § 3-12C-304 Continuation of previously established retirement plan--Vote of employees required to participate in consolidated system.

South Dakota Statutes

§ 3-12C-304 — Continuation of previously established retirement plan--Vote of employees required to participate in consolidated system.

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

Any political subdivision or public corporation may operate a retirement plan created prior to July 1, 1974, unless the retirement plan of the political subdivision or public corporation is accepted in the system created by this chapter. Notwithstanding the provisions of this section and § 3-12C-306 , no political subdivision or public corporation with a retirement plan may be accepted as a participating unit unless two-thirds of the members of the retirement plan vote to become members of the system created by this chapter.

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Any political subdivision or public corporation may operate a retirement plan created prior to July 1, 1974, unless the retirement plan of the political subdivision or public corporation is accepted in the system created by this chapter. Notwithstanding the provisions of this section and § 3-12C-306 , no political subdivision or public corporation with a retirement plan may be accepted as a participating unit unless two-thirds of the members of the retirement plan vote to become members of the system created by this chapter.

South Dakota § 3-12C-304 (Continuation of previously established retirement plan--Vote of employees required to participate in consolidated system.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.