South Dakota § 3-13C-10 Class D members vested--Contributions not required--Participation ceases.

South Dakota Statutes

§ 3-13C-10 — Class D members vested--Contributions not required--Participation ceases.

South Dakota·Title 3 PUBLIC OFFICERS AND EMPLOYEES·Ch. 3-13B DEPARTMENT OF LABOR AND REGULATION EMPLOYEE RETIREMENT

All Class D members of the South Dakota Retirement System as of July 1, 2020, are considered vested. No contributions by Class D members are required on or after January 1, 1990. A participant, whether active or inactive, shall cease to be a participant on the earlier of the following:

(1)The date of the participant's death; or (2) The date the participant receives a single sum distribution in lieu of all of the benefits under the plan. An inactive participant shall also cease to be a participant on the earliest date on which the participant is not entitled to a deferred monthly income.

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All Class D members of the South Dakota Retirement System as of July 1, 2020, are considered vested. No contributions by Class D members are required on or after January 1, 1990. A participant, whether active or inactive, shall cease to be a participant on the earlier of the following: (1) The date of the participant's death; or (2) The date the participant receives a single sum distribution in lieu of all of the benefits under the plan. An inactive participant shall also cease to be a participant on the earliest date on which the participant is not entitled to a deferred monthly income.

South Dakota § 3-13C-10 (Class D members vested--Contributions not required--Participation ceases.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.