S.D. Codified Laws § 3-13-60

Current through the 2024 Legislative Session

Section 3-13-60 - Required minimum distributions-Participant's death before distributions begun

If a participant dies before required distribution of the participant's benefits has begun, the participant's interest shall be distributed as follows:

(1) If the participant has a surviving spouse, the surviving spouse shall receive benefits over the life of the surviving spouse beginning as soon as administratively possible and effective the month after the participant's death; or

(2) If the participant has no surviving spouse, the participant's remaining interest shall be distributed in a lump sum payment to the designated beneficiary within five years from the date of the participant's death.

SDCL 3-13-60

SL 2021, ch 28, §9.

Added by S.L. 2021, ch. 28,s. 9, eff. 7/1/2021.