South Dakota § 3-13C-12 Direct rollovers--Election by distributee.

South Dakota Statutes

§ 3-13C-12 — Direct rollovers--Election by distributee.

South Dakota § 3-13C-12

Title 3PUBLIC OFFICERS AND EMPLOYEES

Ch. 3-13BDEPARTMENT OF LABOR AND REGULATION EMPLOYEE RETIREMENT

This text of South Dakota § 3-13C-12 (Direct rollovers--Election by distributee.) 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 § 3-13C-12 (2026).

Text

Notwithstanding any provision of the plan to the contrary limiting a distributee's election under this section, a distributee may elect at the time and in the manner prescribed by the system, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. In the event of a mandatory distribution of an eligible rollover distribution greater than one thousand dollars in accordance with § 3-13C-14, if the participant does not elect to have the distribution paid directly to an eligible retirement plan specified by the participant in a direct rollover or to receive the distribution directly, the system shall pay the distribution in a direct rollover to an individual retirement plan designated by the system.

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Notwithstanding any provision of the plan to the contrary limiting a distributee's election under this section, a distributee may elect at the time and in the manner prescribed by the system, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. In the event of a mandatory distribution of an eligible rollover distribution greater than one thousand dollars in accordance with § 3-13C-14, if the participant does not elect to have the distribution paid directly to an eligible retirement plan specified by the participant in a direct rollover or to receive the distribution directly, the system shall pay the distribution in a direct rollover to an individual retirement plan designated by the system. In the event of any other eligible rollover distribution to a distributee in accordance with § 3-13C-13, if the distributee does not elect to have the distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover or to receive the distribution directly, the system shall pay the distribution to the distributee.