South Dakota § 3-12C-711 Maximum annual benefit--Promulgation of rules--Tax qualification--Limitation year defined.

South Dakota Statutes

§ 3-12C-711 — Maximum annual benefit--Promulgation of rules--Tax qualification--Limitation year defined.

South Dakota § 3-12C-711

Title 3PUBLIC OFFICERS AND EMPLOYEES

Ch. 3-12BSOUTH DAKOTA RETIREMENT SYSTEM

This text of South Dakota § 3-12C-711 (Maximum annual benefit--Promulgation of rules--Tax qualification--Limitation year defined.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 3-12C-711 (2026).

Text

The board may promulgate rules, in accordance with chapter 1-26 , to regulate the maximum annual benefit that may be paid to a member. The rules must be consistent with maintaining the tax qualification of the system. No benefit may exceed the limitations imposed by § 415 of the Internal Revenue Code, as indexed pursuant to § 415(d)(1) of the Internal Revenue Code. For purposes of administering the limitations imposed by § 415, "limitation year" means a period extending from July first of one calendar year through June thirtieth of the following calendar year.

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The board may promulgate rules, in accordance with chapter 1-26 , to regulate the maximum annual benefit that may be paid to a member. The rules must be consistent with maintaining the tax qualification of the system. No benefit may exceed the limitations imposed by § 415 of the Internal Revenue Code, as indexed pursuant to § 415(d)(1) of the Internal Revenue Code. For purposes of administering the limitations imposed by § 415, "limitation year" means a period extending from July first of one calendar year through June thirtieth of the following calendar year.

Legislative History

SL 1984, ch 23, § 6; SL 1996, ch 29, § 2; SL 1997, ch 32, § 2; SL 2002, ch 22, § 3; SL 2013, ch 20, § 1; SDCL § 3-12-89.1; SL 2019, ch 22, § 1; SL 2025, ch 27, § 42.