South Dakota § 3-13-100 Automatic enrollment--Initial deferrals--Election to not participate--Refund--Effect.

South Dakota Statutes

§ 3-13-100 — Automatic enrollment--Initial deferrals--Election to not participate--Refund--Effect.

South Dakota·Title 3 PUBLIC OFFICERS AND EMPLOYEES·Ch. 3-12B DEFERRED COMPENSATION PLAN FOR PUBLIC EMPLOYEES

Upon initially becoming an automatic enrollee, twenty-five dollars per month must be deferred to the plan from the compensation of an automatic enrollee, unless the automatic enrollee elects not to participate in the plan within ninety days after the automatic enrollee's first pay date and gives notice of that election to the system, or unless the automatic enrollee elects to defer an increased amount. The deferred compensation and associated gains or losses of an automatic enrollee who elects not to participate must be refunded to the automatic enrollee within thirty days of receipt of the final contribution by the plan. An automatic enrollee who elects not to participate is not barred from future voluntary participation in the plan.

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Upon initially becoming an automatic enrollee, twenty-five dollars per month must be deferred to the plan from the compensation of an automatic enrollee, unless the automatic enrollee elects not to participate in the plan within ninety days after the automatic enrollee's first pay date and gives notice of that election to the system, or unless the automatic enrollee elects to defer an increased amount. The deferred compensation and associated gains or losses of an automatic enrollee who elects not to participate must be refunded to the automatic enrollee within thirty days of receipt of the final contribution by the plan. An automatic enrollee who elects not to participate is not barred from future voluntary participation in the plan.

South Dakota § 3-13-100 (Automatic enrollment--Initial deferrals--Election to not participate--Refund--Effect.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.