reglab/housing_qa huggingface dataset:
SD Codified L § 3-13-60 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13 - Deferred Compensation Plan For Public Employees|Section 3-13-60 - Required minimum distributions--Participant's death before distributions begun.

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. Source: SL 2021, ch 28, § 9.
SD Codified L § 3-13-61 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13 - Deferred Compensation Plan For Public Employees|Section 3-13-61 - Required minimum distributions--Reasonable and made in good faith.

3-13-61. Required minimum distributions--Reasonable and made in good faith. Notwithstanding the provisions of §§ 3-13-58 to 3-13-60, inclusive, or the provisions of United States Treasury regulations, benefit options may continue so long as the option satisfies § 401(a)(9) of the Internal Revenue Code based on a reasonable and good faith interpretation of that section. Source: SL 2021, ch 28, § 10.
SD Codified L § 3-13-63 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13 - Deferred Compensation Plan For Public Employees|Section 3-13-63 - Required minimum distributions--Waiver of 2020.

3-13-63. Required minimum distributions--Waiver of 2020. Notwithstanding any other provisions of chapter 3-13, the participant or beneficiary who would have been required to receive required minimum distributions (RMD) for 2020 (or paid in 2021 for the 2020 calendar year for a participant with a required beginning date of April 2, 2021) but for the enactment of Internal Revenue Code section 401(a)(9)(I) (2020 RMDs), and who would have satisfied that requirement by receiving distributions that are either (1) equal to the 2020 RMDs or (2) one or more payments in a series of substantially equal distributions (that include the 2020 RMDs) made at least annually and expected to last for the life (or life expectancy) of the participant, the joint lives (or joint life expectancy) of the participant and the participant's designated beneficiary, or for a period of at least ten years (extended 2020 RMDs) shall receive those distributions for 2020 unless the participant or beneficiary chooses not to receive the distributions. For purposes of the direct rollover provisions of the plan, 2020 RMDs and extended 2020 RMDs also shall be treated as eligible rollover distributions in 2020. Source: SL 2021, ch 28, § 12.
SD Codified L § 3-13A-1 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-1 - Special pay retirement program established.

3-13A-1. Special pay retirement program established.There is hereby established the South Dakota special pay retirement program. It is the intent of the Legislature that the special pay retirement program shall become a qualified plan under §401(a) of the code and that the program shall be treated as a governmental plan under §414(d) of the code. It is the further intent of the Legislature that special pay transmitted to the fund is picked up by the participating unit and thus shall be designated as an employer contribution under §414(h)(2) of the code. Source: SL 2004, ch 43, §1; SDCL, §3-12-165; SL 2005, ch 28, §1.
SD Codified L § 3-13A-2 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-2 - Definitions.

3-13A-2. Definitions.The definitions contained in chapter 3-12 apply to this chapter unless otherwise specified. In addition, the following terms used in this chapter mean:(1)"Account," the record for each participant reflecting the amount of the participant's special pay transmitted to the fund, allocated investment gains and losses thereon, and administrative charges against those amounts;(2)"Accounting date," the date on which an investment is valued and the total investment return is allocated to a participant's account;(3)"Board," the South Dakota Retirement System Board of Trustees as established under §3-12C-203;(4)"Executive director," the executive director of the South Dakota Retirement System as provided in §3-12C-209;(5)"Fund," the South Dakota special pay fund established pursuant to §3-13A-3;(6)"Normal retirement date," the date a participant may retire pursuant to the provisions of chapter 3-12C without reduced benefits;(7)"Participant," a terminated employee of a participating unit who has reached the calendar month before the month of the employee's fifty-fifth birthday and who received six hundred dollars or more in special pay;(8)"Participating unit," the State of South Dakota, the South Dakota Board of Regents, or any other political subdivision of the state that participates in the program;(9)"Plan year," a calendar year ending on December thirty-first;(10)"Program," the South Dakota Special Pay Retirement Program created pursuant to §§3-13A-1 to 3-13A-25, inclusive;(11)"Special pay," compensation other than regular salary or wages granted to a participant and transferred in a lump-sum to the fund at the termination of the participant's employment;(12)"Third-party administrator," a person who, pursuant to contract, handles administration of the program on behalf of the board and the executive director; (13)"Vendor," a person or organization selected by the state investment officer to provide investment or insurance products to the program. Source: SL 2004, ch 43, §2; SDCL §3-12-166; SL 2005, ch 28, §1; SL 2006, ch 22, §1; SL 2008, ch 20, §18; SL 2013, ch 20, §19; SL 2013, ch 22, §§1, 2; SL 2016, ch 31, §54.
SD Codified L § 3-13A-3 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-3 - Special pay fund.

3-13A-3. Special pay fund.The South Dakota special pay fund is hereby established. All compensation transmitted to the fund pursuant to §§3-13A-1 to 3-13A-25, inclusive, shall be deposited in the fund. Expenditures from the fund shall be paid on warrants drawn by the state auditor and supported by vouchers approved by the executive director. All administrative expenses shall be budgeted and expended pursuant to chapters 4-7, 4-8, 4-8A, and 4-8B. All money in the fund and all property and rights held by the fund shall be held in trust for the exclusive benefit of the participants at all times until made available to a participant or the participant's beneficiary. All benefits payable under this program shall be paid and provided for solely from the fund and a participating unit assumes no liability or responsibility therefor. Any trust under the program shall be established pursuant to a written agreement that constitutes a valid trust under the law of South Dakota. Source: SL 2004, ch 43, §3; SDCL §3-12-167; SL 2005, ch 28, §1; SL 2016, ch 31, §55.
SD Codified L § 3-13A-4 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-4 - Board controls program as fiduciary--Promulgation of rules.

3-13A-4. Board controls program as fiduciary--Promulgation of rules.The program shall be under the authority of the board. The board shall be held to the standard of conduct of a fiduciary and shall carry out its functions solely in the interest of the participants and benefit recipients and for the exclusive purpose of providing benefits and defraying reasonable expenses incurred in performing such duties as required by law. The board may promulgate rules necessary to establish uniform procedures for the administration of the program and to insure uniformity of application of the provisions of §§3-13A-1 to 3-13A-25, inclusive. Rules may be promulgated in regard to membership, contributions and the collection thereof, fees for administration of the program, and procedures for application for benefits and payment of benefits. The rules shall be promulgated pursuant to chapter 1-26 and shall be in accordance with the provisions of §§3-13A-1 to 3-13A-25, inclusive. Source: SL 2004, ch 43, §4; SDCL, §3-12-168; SL 2005, ch 28, §1.
SD Codified L § 3-13A-5 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-5 - Transfer of special pay to fund upon termination of employment--Contribution limit.

3-13A-5. Transfer of special pay to fund upon termination of employment--Contribution limit.Upon a participant's termination of employment, the participating unit shall transmit the gross amount of the participant's special pay to the fund. However, except to the extent permitted under §414(v) of the code, if applicable, a contribution allocated to a participant's account under the program may not exceed the limitation for defined contribution plans pursuant to §415(c)(1)(A) of the code, or one hundred percent of the participant's compensation, as identified in §415(c)(3) of the code for the calendar year. For the purposes of the limitations under this section, all of the defined contribution plans of a participant's employer, whether terminated or current, shall be treated as a single defined contribution plan. Source: SL 2004, ch 43, §5; SL 2005, ch 27, §2; SDCL §3-12-169; SL 2005, ch 28, §1; SL 2013, ch 22, §3; SL 2019, ch 23, §10.
SD Codified L § 3-13A-6 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-6 - Time for transfer of compensation to trust.

3-13A-6. Time for transfer of compensation to trust.For the proper administration of the accounts of participants, all amounts of compensation subject to this chapter shall be transferred to the trust not later than fifteen business days after the end of the month in which the compensation otherwise would have been paid to the participant. Source: SL 2004, ch 43, §6; SDCL §3-12-170; SL 2005, ch 28, §1; SL 2008, ch 20, §19.
SD Codified L § 3-13A-7 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-7 - Participant account.

3-13A-7. Participant account.An account shall be established for each participant. The account shall be the basis for any distribution to the participant or to the participant's beneficiary, surviving spouse, surviving children, or estate pursuant to §3-13A-15. Source: SL 2004, ch 43, §7; SDCL, §3-12-171; SL 2005, ch 28, §1.
SD Codified L § 3-13A-8 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-8 - Vesting of participant account--Forfeiture.

3-13A-8. Vesting of participant account--Forfeiture.A participant's account is fully vested in the program at any time on or after the date the participant begins participation in the program. A participant's account is not subject to any forfeiture pursuant to the provisions of the program. A loss as described in §3-13A-25 is not considered to be a forfeiture. Source: SL 2005, ch 27, §1.
SD Codified L § 3-13A-9 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-9 - Investment of funds.

3-13A-9. Investment of funds.A plan participant may invest in any investment selected by the state investment officer, including annuity contracts. The state investment officer may enter into contracts for investment alternatives. The executive director or third-party administrator may transfer funds to, from, and among the respective investment alternatives as directed by the participant or as required if the investment alternative is no longer available. Source: SL 2004, ch 43, §8; SDCL §3-12-172; SL 2005, ch 28, §1; SL 2016, ch 31, §56.
SD Codified L § 3-13A-10 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-10 - Lump-sum distribution to participant.

3-13A-10. Lump-sum distribution to participant.A participant who elects an immediate total lump-sum distribution from the program shall be guaranteed payment of the entire amount of the participant's special pay, plus any earnings, and less any mandatory income tax withholding and fees established by the board, within a period that is not longer than is reasonable from the date the participant's funds were received by the program on behalf of the participant. Source: SL 2004, ch 43, §9; SDCL, §3-12-173; SL 2005, ch 28, §1.
SD Codified L § 3-13A-11 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-11 - Investment alternatives--Transfer of account balances by participants.

3-13A-11. Investment alternatives--Transfer of account balances by participants.Each participant may elect to have the participant's funds invested in one or more of the investment alternatives selected by the state investment officer pursuant to §3-13A-9. Subject to any limitations imposed by the executive director, a vendor, or a third-party administrator, a participant may elect to transfer any portion of the account balance from one offered investment alternative to another at any time, if notice is given to the executive director or the third-party administrator. Any costs associated with such a transfer shall be borne by the participant and shall be deducted from the participant's account. If, due to a payroll error, a participant's deferral is deposited in an investment alternative other than the one selected by the participant, the executive director or third-party administrator may correct the error by transferring the participant's deferral to the proper investment alternative, subject to any limitations which may be imposed by the vendor. No retroactive adjustment may be made. Source: SL 2004, ch 43, §10; SDCL §3-12-174; SL 2005, ch 28, §1; SL 2016, ch 31, §57.
SD Codified L § 3-13A-12 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-12 - Transfer of funds from terminated investment selection.

3-13A-12. Transfer of funds from terminated investment selection.If a contract between the state investment officer and a vendor is terminated and a participant fails to notify the executive director or third-party administrator of the participant's new investment selection before the contract terminates, the executive director or third-party administrator shall transfer that participant's account to the investment alternative designated by the state investment officer. Source: SL 2004, ch 43, §11; SDCL §3-12-175; SL 2005, ch 28, §1; SL 2016, ch 31, §58.
SD Codified L § 3-13A-13 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-13 - Allocation of investment return among participant accounts--Accounting dates.

3-13A-13. Allocation of investment return among participant accounts--Accounting dates.The total investment return on any offered investment shall be allocated to the account of each participant based on the proportion the participant's account bears to all other accounts which have been invested in the same investment alternative. Allocations shall be made on each accounting date. The last day of each calendar quarter is an accounting date. The board may provide additional accounting dates. Source: SL 2004, ch 43, §12; SDCL, §3-12-176; SL 2005, ch 28, §1.
SD Codified L § 3-13A-14 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-14 - Valuation of investment alternatives.

3-13A-14. Valuation of investment alternatives.Each offered investment alternative shall be valued on each accounting date. The valuation shall be at market value. Any charges against the value shall be explicitly disclosed. Each participant shall be provided with a statement of the participant's account by no later than forty-five days after the close of each calendar quarter. Source: SL 2004, ch 43, §13; SDCL, §3-12-177; SL 2005, ch 28, §1.
SD Codified L § 3-13A-15 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-15 - Beneficiaries of participant's account.

3-13A-15. Beneficiaries of participant's account.A participant may designate a beneficiary to receive the participant's benefits under the program in case of the death of the participant. If no beneficiary is designated or the beneficiary has predeceased the participant, the participant's benefits shall be paid as follows:(1)To the participant's surviving spouse;(2)If there is no surviving spouse, then to all surviving children of the participant, irrespective of age, on a share-alike basis; or(3)If there is no surviving spouse and there are no surviving children, then to the participant's estate. Source: SL 2004, ch 43, §14; SDCL §3-12-178; SL 2005, ch 28, §1; SL 2012, ch 26, §15.
SD Codified L § 3-13A-16 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-16 - Payments and benefits under program not assignable or subject to creditors' actions.

3-13A-16. Payments and benefits under program not assignable or subject to creditors' actions.Notwithstanding the provisions of §3-13A-15, no participant may assign or otherwise alienate any right to any payment or benefit under the program. The right of a participant to any payment or benefit is not subject to the rights of the participant's or any beneficiary's creditors, and is exempt from executions, attachment, prior assignment, or any other judicial relief or order for the benefit of creditors or other third persons, except as required under applicable law, including any qualified domestic relations order as defined in §414(p) of the Internal Revenue Code, or as is otherwise specifically provided in this chapter. Source: SL 2004, ch 43, §15; SDCL §3-12-179; SL 2005, ch 28, §1; SL 2008, ch 20, §20; SL 2013, ch 20, §20.
SD Codified L § 3-13A-17 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-17 - Powers and duties of executive director.

3-13A-17. Powers and duties of executive director.The executive director shall administer the program and shall determine all questions arising under or in connection with the program. The executive director may hire additional employees as may be required and shall set the remuneration of the employees. In addition, the executive director, with the approval of the board, may contract with vendors for third-party administration of various duties under the program as the executive director sees fit. The executive director shall execute any agreements necessary to carry out the provisions of §§3-13A-1 to 3-13A-25, inclusive, except any agreements executed by the state investment officer pursuant to §3-13A-9. Source: SL 2004, ch 43, §16; SDCL §3-12-180; SL 2005, ch 28, §1; SL 2016, ch 31, §59.
SD Codified L § 3-13A-18 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-18 - Election by participating units of retirement system to participate in program--Rescission of participation.

3-13A-18. Election by participating units of retirement system to participate in program--Rescission of participation.Any public employer that is a participating unit of the system established under chapter 3-12C may become a participating unit under this chapter at any time on or after July 1, 2004. The decision to become a participating unit shall be made by the elected official, the appointed official, or the governing body in charge of the unit. The unit shall become a participating unit as soon as notice of the decision has been delivered in writing to the system. A participating unit at a later date may choose to rescind such status and may do so by delivering written notice of the decision to the system. However, if such a rescission occurs, the rescission does not affect the status of any participant who was employed by that unit. Source: SL 2004, ch 43, §17; SDCL §3-12-181; SL 2005, ch 28, §1.
SD Codified L § 3-13A-19 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-19 - Trustee-to-trustee transfer of participant's account to government defined-benefit retirement plan.

3-13A-19. Trustee-to-trustee transfer of participant's account to government defined-benefit retirement plan.For the purpose of acquiring credited service in a qualified governmental defined-benefit retirement plan as identified under §401(a) and defined in §414(d) of the code, a participant may transfer a portion or all of the participant's account in the program by trustee-to-trustee transfer to the government defined-benefit retirement plan. Source: SL 2004, ch 43, §18; SDCL, §3-12-182; SL 2005, ch 28, §1.
SD Codified L § 3-13A-20 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-20 - Rollover transfer of participant's account.

3-13A-20. Rollover transfer of participant's account.The board shall establish by rule promulgated pursuant to chapter 1-26 the parameters under which a participant, a participant's surviving spouse, or a participant's beneficiary may transfer a portion or all of the participant's account by rollover to a plan which is an eligible plan under the code. Source: SL 2004, ch 43, §19; SDCL §3-12-183; SL 2005, ch 28, §1; SL 2009, ch 20, §5.
SD Codified L § 3-13A-21 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-21 - Rollover transfer of participant's account in another plan.

3-13A-21. Rollover transfer of participant's account in another plan.To the extent permitted by law, a participant may transfer a portion or all of the participant's account in another plan which is eligible under §401(a), 403(b), 408, or 457 of the code into this program by rollover. The program shall account for such amounts separately. Source: SL 2004, ch 43, §20; SDCL, §3-12-184; SL 2005, ch 28, §1.