South Dakota § 3-13-101 Automatic enrollment--Automatic escalation--Circumstances for no escalation.

South Dakota Statutes

§ 3-13-101 — Automatic enrollment--Automatic escalation--Circumstances for no escalation.

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

Beginning in 2016 and each year thereafter, automatic escalation for an automatic enrollee means an additional ten dollars per month must be deferred to the plan from the compensation of an automatic enrollee of an automatic enrollment unit that elected automatic escalation or became an automatic enrollment unit after June 30, 2015. If the enrollee has one or more investment alternatives or a Roth account, or any combination thereof, the additional dollars must be prorated in the same manner as the enrollee's deferral before the escalation. No automatic escalation may occur for an automatic enrollee unless at least one year has passed from the enrollee's hire date on which the enrollee became an automatic enrollee. In addition, no automatic escalation may occur for an automatic enrollee wh

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Beginning in 2016 and each year thereafter, automatic escalation for an automatic enrollee means an additional ten dollars per month must be deferred to the plan from the compensation of an automatic enrollee of an automatic enrollment unit that elected automatic escalation or became an automatic enrollment unit after June 30, 2015. If the enrollee has one or more investment alternatives or a Roth account, or any combination thereof, the additional dollars must be prorated in the same manner as the enrollee's deferral before the escalation. No automatic escalation may occur for an automatic enrollee unless at least one year has passed from the enrollee's hire date on which the enrollee became an automatic enrollee. In addition, no automatic escalation may occur for an automatic enrollee who opts out of automatic escalation or has lowered the automatic enrollee's deferral to zero.

South Dakota § 3-13-101 (Automatic enrollment--Automatic escalation--Circumstances for no escalation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.