South Dakota § 3-12C-712 Compensation limits in Internal Revenue Code § 401(a)(17) .

South Dakota Statutes

§ 3-12C-712 — Compensation limits in Internal Revenue Code § 401(a)(17) .

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

Any compensation in excess of the limits established in § 401(a)(17) of the Internal Revenue Code shall be disregarded for purposes of contributions and benefit calculations under the system. Any benefit calculations for members subject to the limits established in § 401(a)(17) of the Internal Revenue Code but for whom the limitation on compensation did not apply before January 1, 2018, shall be based on unlimited compensation for credited service before January 1, 2018, and limited compensation for credited service as of January 1, 2018.

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Any compensation in excess of the limits established in § 401(a)(17) of the Internal Revenue Code shall be disregarded for purposes of contributions and benefit calculations under the system. Any benefit calculations for members subject to the limits established in § 401(a)(17) of the Internal Revenue Code but for whom the limitation on compensation did not apply before January 1, 2018, shall be based on unlimited compensation for credited service before January 1, 2018, and limited compensation for credited service as of January 1, 2018.

South Dakota § 3-12C-712 (Compensation limits in Internal Revenue Code § 401(a)(17) .) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.