S.D. Codified Laws § 3-13C-10

Current through the 2024 Legislative Session

Section 3-13C-10 - Class D members vested-Contributions not required-Participation ceases

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.

SDCL 3-13C-10

SL 2020, ch 13, § 17.

Added by S.L. 2020, ch. 13,s. 17, eff. 7/1/2020.