South Dakota § 9-16-3 Ordinance establishing retirement system--Provisions to be included.

South Dakota Statutes

§ 9-16-3 — Ordinance establishing retirement system--Provisions to be included.

South Dakota § 9-16-3

Title 9MUNICIPAL GOVERNMENT

Ch. 9-16CITY RETIREMENT SYSTEMS AND PENSIONS

This text of South Dakota § 9-16-3 (Ordinance establishing retirement system--Provisions to be included.) 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 § 9-16-3 (2026).

Text

The governing body of any municipality of the first class, after authorization as provided in § 9-16-1 or 9-16-2 , may adopt an ordinance establishing a retirement system covering the employees, elective officers, and appointive officers of the municipality. The ordinance shall provide rules and regulations governing the operation of the retirement system; shall prescribe the membership of the retirement system; shall provide for the retirement of members; shall provide for the payment of annuities, pensions, or retirement allowances or may provide for actuarial equivalents thereof in the event of retirement, disability, or death; shall create a Board of Trustees in whom is vested the responsibility for the management of the retirement system; shall provide for the financing of the retirem

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The governing body of any municipality of the first class, after authorization as provided in § 9-16-1 or 9-16-2 , may adopt an ordinance establishing a retirement system covering the employees, elective officers, and appointive officers of the municipality. The ordinance shall provide rules and regulations governing the operation of the retirement system; shall prescribe the membership of the retirement system; shall provide for the retirement of members; shall provide for the payment of annuities, pensions, or retirement allowances or may provide for actuarial equivalents thereof in the event of retirement, disability, or death; shall create a Board of Trustees in whom is vested the responsibility for the management of the retirement system; shall provide for the financing of the retirement system by contributions; and shall provide for the investment of the moneys of the retirement system.

Legislative History

SL 1925, ch 239, § 3; SDC 1939, §§ 45.0203 (4), 45.1201; SL 1949, ch 183, § 1; SL 1953, ch 254; SL 1955, ch 201, § 1; SL 1957, ch 253; SL 1967, ch 220, § 1; SL 1984, ch 56, § 1; SL 1992, ch 60, § 2.