South Dakota § 3-13-103 Automatic enrollment--Qualified default investment alternative--Secondary alternative--Liability.

South Dakota Statutes

§ 3-13-103 — Automatic enrollment--Qualified default investment alternative--Secondary alternative--Liability.

South Dakota § 3-13-103

Title 3PUBLIC OFFICERS AND EMPLOYEES

Ch. 3-12BDEFERRED COMPENSATION PLAN FOR PUBLIC EMPLOYEES

This text of South Dakota § 3-13-103 (Automatic enrollment--Qualified default investment alternative--Secondary alternative--Liability.) 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 § 3-13-103 (2026).

Text

The deferred compensation of an automatic enrollee must be deposited in a qualified default investment alternative selected by the state investment officer pursuant to § 3-13-51.1 , unless the automatic enrollee affirmatively selects another investment alternative within the plan. The state investment officer shall select a qualified default investment alternative for deferrals from automatic enrollees during the initial ninety-day opt-out period and may select an alternative qualified default investment alternative for accumulated deferrals and subsequent deferrals from automatic enrollees who exceed the ninety-day opt-out period but do not select another investment alternative. Neither the state investment officer, the system, the third-party administrator, nor the automatic enrollment u

Free access — add to your briefcase to read the full text and ask questions with AI

The deferred compensation of an automatic enrollee must be deposited in a qualified default investment alternative selected by the state investment officer pursuant to § 3-13-51.1 , unless the automatic enrollee affirmatively selects another investment alternative within the plan. The state investment officer shall select a qualified default investment alternative for deferrals from automatic enrollees during the initial ninety-day opt-out period and may select an alternative qualified default investment alternative for accumulated deferrals and subsequent deferrals from automatic enrollees who exceed the ninety-day opt-out period but do not select another investment alternative. Neither the state investment officer, the system, the third-party administrator, nor the automatic enrollment unit may be held liable for any loss sustained by an automatic enrollee whose deferrals are either voluntarily or involuntarily invested in either qualified default investment alternative.