South Dakota § 6-2-2 Security for employees retired before liquidation--Retention of funds.

South Dakota Statutes

§ 6-2-2 — Security for employees retired before liquidation--Retention of funds.

South Dakota § 6-2-2

Title 6LOCAL GOVERNMENT GENERALLY

Ch. 6-2LIQUIDATION OF RETIREMENT PROGRAMS

This text of South Dakota § 6-2-2 (Security for employees retired before liquidation--Retention of funds.) 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 § 6-2-2 (2026).

Text

In the event any subdivision of government shall liquidate any pension, annuity, or other retirement program existing between the subdivision of government and its employees, the subdivision of government is herewith authorized to secure any employee retired before liquidation of the program in his retirement in a program substantially equivalent to the retirement for which he qualified and the subdivision of government shall retain so much of the money - raising powers granted it to effect the program in the first instance as is necessary to so secure such retired employees.

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In the event any subdivision of government shall liquidate any pension, annuity, or other retirement program existing between the subdivision of government and its employees, the subdivision of government is herewith authorized to secure any employee retired before liquidation of the program in his retirement in a program substantially equivalent to the retirement for which he qualified and the subdivision of government shall retain so much of the money - raising powers granted it to effect the program in the first instance as is necessary to so secure such retired employees.