reglab/housing_qa huggingface dataset:
SD Codified L § 3-13A-22 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-22 - Distribution from participant's account--Forms of distribution--Time for election.

3-13A-22. Distribution from participant's account--Forms of distribution--Time for election.A participant is entitled to receive a distribution from the participant's account upon written application to the executive director or third-party administrator. The participant may elect, on forms prescribed by the executive director or third-party administrator, the time distributions under the program are to commence by designating the month and year during which the first distribution is to be made. The participant may elect to receive the participant's distribution in any of the following forms:(1)A lump sum;(2)Equal monthly installments over a fixed period; or(3)Any other form offered by the executive director or a third-party administrator.The application and election shall be made prior to the time any amounts become payable. A participant or a beneficiary who has chosen a payment form may change that payment option, if no payment has yet been made, and subject to any administrative restrictions and charges established by the board. Source: SL 2004, ch 43, §21; SDCL §3-12-185; SL 2005, ch 28, §1; SL 2016, ch 31, §60.
SD Codified L § 3-13A-23 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-23 - Annuity distributions date.

3-13A-23. Annuity distributions date. A participant who does not take a total lump-sum distribution, transfer funds by rollover pursuant to §3-13A-20, or transfer funds by trustee-to-trustee transfer pursuant to §3-13A-19 may begin annuity distributions by selecting a retirement date, as set out in §3-13A-22. If a participant does not make a selection, the participant's normal retirement date is as defined in subdivision 3-13A-2(6). Source: SL 2004, ch 43, §22; SDCL, §3-12-186; SL 2005, ch 28, §1; SL 2021, ch 28, § 13.
SD Codified L § 3-13A-23.1 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-23.1 - Required minimum distributions--General rule.

3-13A-23.1. Required minimum distributions--General rule. The system shall pay all benefits in accordance with a good faith interpretation of the requirements in § 401(a)(9) of the Internal Revenue Code and the regulations in effect under that section, as applicable to a governmental plan within the meaning of § 414(d) of the Internal Revenue Code.The participant's entire interest shall be distributed, or begin to be distributed, by the required beginning date, which is April first of the calendar year following the later of:(1)The calendar year in which the participant reaches age seventy-two, or age seventy and one-half if the participant attained age seventy and one-half before January 1, 2020; or(2)The calendar year in which the participant retires.A participant or beneficiary eligible for benefits must apply for benefits in order to commence distribution of benefits. The system, pursuant to a qualified domestic relations order, may establish separate benefits for a participant and alternate payee. Source: SL 2021, ch 28, § 14.
SD Codified L § 3-13A-23.2 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-23.2 - Required minimum distributions--Participant's death after distributions begun.

3-13A-23.2. Required minimum distributions--Participant's death after distributions begun. If a participant dies after the required distribution of benefits has begun, the remaining portion of the participant's interest shall be distributed at least as rapidly as under the same method of distribution before the participant's death. Source: SL 2021, ch 28, § 15.
SD Codified L § 3-13A-23.3 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-23.3 - Required minimum distributions--Participant's death before distributions begun.

3-13A-23.3. 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, § 16.
SD Codified L § 3-13A-23.4 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-23.4 - Required minimum distributions--Reasonable and made in good faith.

3-13A-23.4. Required minimum distributions--Reasonable and made in good faith. Notwithstanding the provisions of §§ 3-13A-23 to 3-13A-23.1, inclusive, or the provisions of the 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, § 17.
SD Codified L § 3-13A-23.6 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-23.6 - Required minimum distributions--Waiver of 2020.

3-13A-23.6. Required minimum distributions--Waiver of 2020. Notwithstanding any other provisions of chapter 3-13A, 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 § 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, § 19.
SD Codified L § 3-13A-24 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-24 - State investment officer to act as fiduciary--Certain persons prohibited from acting as third-party administrator or vendor.

3-13A-24. State investment officer to act as fiduciary--Certain persons prohibited from acting as third-party administrator or vendor.The state investment officer shall be held to the standard of conduct of a fiduciary and shall carry out all functions solely in the interests 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. No employee of a participating unit and no spouse or dependent of the employee may act as or represent a third-party administrator or a vendor in a matter concerning the program, except that the state investment officer and the state investment officer's employees may invest all or part of the fund pursuant to §3-13A-9. Source: SL 2004, ch 43, §23; SDCL, §3-12-187; SL 2005, ch 28, §1.
SD Codified L § 3-13A-25 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13A - South Dakota Special Pay Retirement Program|Section 3-13A-25 - Limitation of liability to participants.

3-13A-25. Limitation of liability to participants.Neither the program nor any participating unit is liable to any participant for losses arising out of any decrease in the value of any investments held under the program. The liability of the program to any participant is limited to the value of the participant's account on the date the participant chooses to begin payment pursuant to the provisions of the program. In no event may any member of the board, the executive director, or any member of the executive director's staff have any liability for any action taken with respect to the program unless the action has been taken in bad faith. Source: SL 2004, ch 43, §24; SDCL §3-12-188; SL 2005, ch 28, §1; SL 2016, ch 31, §61.
SD Codified L § 3-13C-2 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13C - Department Of Labor And Regulation Employee Retirement|Section 3-13C-2 - Actuarial equivalent--Distribution expected--Determination of amount.

  3-13C-2  .  Actuarial equivalent--Distribution expected--Determination of amount.   For purposes of this chapter, actuarial equivalent means equality in the value of the aggregate amount expected to be received for benefits payable at different times or under different forms of distributions. For purposes of determining the amount of a distribution other than an annual benefit nondecreasing for the life of the participant or, in the case of a preretirement survivor annuity, the life of the participant’s spouse; or that decreases during the life of the participant merely because of the death of the surviving contingent participant, but only if the reduction is to a level not below fifty percent of the annual benefit payable before the death of the surviving contingent participant, or because of the cessation or reduction of Social Security supplements or qualified disability payments, actuarial equivalent shall be determined on the basis of the interest on thirty-year United States Treasury securities for the look-back month for the stability period and the 1994 Group Annuity Reserve Mortality Table. The look-back month applicable to the stability period is the second calendar month preceding the first day of the stability period. The stability period is the successive period of one calendar month containing the annuity starting date for the distribution, and for which the interest rate remains constant.   For purposes of determining benefits not described in the preceding paragraph, actuarial equivalent for benefits shall be determined on the basis of seven and one-half percent interest and the 1983 Group Annuity Mortality Table as set forth in Revenue Ruling 95-6, 1995-1 C.B. 80.     Source:  SL 2020, ch 13, § 9.
SD Codified L § 3-13C-3 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13C - Department Of Labor And Regulation Employee Retirement|Section 3-13C-3 - Compensation determined.

  3-13C-3  .  Compensation determined.   For the purposes of this chapter, compensation means an employee's fixed rate of pay from the employer. Compensation includes differential wage payments. Except as provided in this section, compensation for a specified period is the compensation actually paid or made available during that period. Compensation for a plan year also includes compensation paid by the later of two and one-half months after an employee's severance from employment with the employer maintaining the plan or the end of the plan year including the date of the employee's severance from employment with the employer, if the payment is regular compensation for services during the employee's regular working hours, or compensation for services outside the employee's regular working hours, commissions, bonuses, or other similar payments, and, absent a severance from employment, the payments would have been paid to the employee while the employee continued in employment with the employer.   Any payments not described in the preceding paragraph are not considered compensation if paid after severance from employment, even if paid by the later of two and one-half months after the date of severance from employment or the end of the plan year including the date of severance from employment.   Back pay, within the meaning of 26 C.F.R. §1.415(c)-2(g)(8), shall be treated as compensation for the plan year to which the back pay relates to the extent the back pay represents wages and compensation that otherwise would be included in this definition.   Compensation paid or made available during a specified period includes amounts that would otherwise be included in compensation, but for an election under 26 U.S.C. §125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k), or 457(b). Compensation includes employee contributions picked-up by a governmental entity and, pursuant to 26 U.S.C. §414(h)(2), treated as employer contributions.   The annual compensation of each participant taken into account in determining contributions and benefits for any determination period, which is the period over which compensation is determined, may not exceed the limits established in 26 U.S.C. §401(a)(17), as adjusted for cost-of-living increases in accordance with 26 U.S.C. §401(a)(17)(B). The cost-of-living adjustment in effect for a calendar year applies to any determination period beginning with or within that calendar year.     Source:  SL 2020, ch 13, § 10.
SD Codified L § 3-13C-4 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13C - Department Of Labor And Regulation Employee Retirement|Section 3-13C-4 - Credited past service--Determination.

  3-13C-4  .  Credited past service--Determination.   For the purposes of this chapter, credited past service is the total of an employee's service before August 1, 1961. This total is expressed in whole years and fractional parts of a year including a complete month as a fractional part of a year. This service is credited only to an employee who became an active participant before or on August 1, 1961 or who, as of that date, had permanent status but was absent from active work and became an active participant before August 1, 1962.   However, credited past service is modified as follows:   (1) Service during a period in which an employee is receiving or is entitled to receive a Federal Civil Service Retirement Pension is excluded;   (2) Service during a period in which an employee has made contributions to the Federal Civil Service Retirement System and the contributions had not been withdrawn before August 1, 1961, or application for withdrawal of the contributions is not made by the employee within thirty days after the employer receives certification from the United States Civil Service Commission that the employee currently has contributions in the Federal Civil Service Retirement System, is excluded; unless contributions to fund the Past Service benefit otherwise available to the employee are made available from funds other than funds granted by Title III of the Federal Social Security Act;   (3) Service accrued for a plan year in which an employee was not an eligible employee is excluded;   (4) A period of military duty shall be included as service with the employer to the extent it has not already been credited. The service is considered to be service as an eligible employee only if an employee was an eligible employee on the day immediately preceding the period of military duty; and   (5) Other service included:   (a) Indefinite leave of absence granted under Presidential Executive Order 8990, dated December 23, 1941, including any services performed for the United States Employment Service or the War Manpower Commission from January 1, 1942, to November 15, 1946, inclusive, and including any leave for Military Service granted by either the United States Employment Service or the War Manpower Commission, with or without pay; and   (b) All other approved leaves.     Source:  SL 2020, ch 13, § 11.
SD Codified L § 3-13C-5 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13C - Department Of Labor And Regulation Employee Retirement|Section 3-13C-5 - Credited service--Determination.

  3-13C-5  .  Credited service--Determination.   For purposes of this chapter, credited service is the sum of credited past service before August 1, 1961 and the total of the employee's continuous service with the employer on and after August 1, 1961, expressed in whole years and fractional parts of a year including a complete month as a fractional part of a year.   However, credited service is modified as follows:   (1) Service while an employee was not an active participant or an active participant under the prior plan is excluded;   (2) Service while an employee failed or refused to make a contribution required under the plan or prior plan is excluded. This provision also applies to an employee's service while contributions were not made because the employee failed or refused to complete a written agreement to make the contributions;   (3) A period of military duty shall be included as service with the employer to the extent it has not already been credited. The service is considered to be service as an eligible employee only if an employee was an eligible employee on the day immediately preceding the period of military duty; and   (4) Unused accumulated annual leave and unused accumulated sick leave, and special military service credit, if any, shall be included as service with the employer to the extent it has not already been credited.     Source:  SL 2020, ch 13, § 12.
SD Codified L § 3-13C-6 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13C - Department Of Labor And Regulation Employee Retirement|Section 3-13C-6 - Eligible retirement plan--Determination.

  3-13C-6  .  Eligible retirement plan--Determination.   For purposes of this chapter, an eligible retirement plan is an eligible plan under 26 U.S.C. §457(b) maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and that agrees to separately account for amounts transferred into that plan from this plan, a traditional individual retirement account, a Roth individual retirement account, an annuity plan described in 26 U.S.C. §403(a), an annuity contract described in 26 U.S.C. §403(b), or a qualified plan described in 26 U.S.C. §401(a), accepting the distributee's eligible rollover distribution. The definition of eligible retirement plan also applies if a distribution is made to a surviving spouse, or to a spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in 26 U.S.C. §414(p).     Source:  SL 2020, ch 13, § 13.
SD Codified L § 3-13C-7 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13C - Department Of Labor And Regulation Employee Retirement|Section 3-13C-7 - Eligible rollover distribution.

  3-13C-7  .  Eligible rollover distribution.   For purposes of this chapter, an eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except an eligible rollover distribution does not include:   (1) Any distribution of a series of substantially equal periodic payments, not less frequently than annually, made for the life expectancy of the distributee or the joint life expectancies of the distributee and the distributee's designated beneficiary, or for a specified period of ten years or more;   (2) Any distribution to the extent the distribution is required under 26 U.S. C. §401(a)(9);   (3) The portion of any other distribution not includible in gross income determined without regard to the exclusion for net unrealized appreciation with respect to employer securities; and   (4) Any other distribution reasonably expected to total less than two hundred dollars during a year.   A portion of a distribution does not fail to be an eligible rollover distribution because the portion consists of after-tax employee contributions that are not includible in gross income. The portion may be transferred only to a traditional individual retirement account or annuity described in 26 U.S.C. §408(a) or (b), a Roth individual retirement account or annuity described in 26 U.S.C. §408A, or a qualified defined contribution, defined benefit, or annuity plan described in 26 U.S.C. §401(a) or 403(a) or to an annuity described in 26 U.S.C. §403(b), if the plan or contract agrees to separately account for amounts so transferred including interest thereon, while separately accounting for the portion of the distribution which is includible in gross income and the portion of the distribution which is not so includible.     Source:  SL 2020, ch 13, § 14.
SD Codified L § 3-13C-8 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13C - Department Of Labor And Regulation Employee Retirement|Section 3-13C-8 - Normal retirement date--Determination.

  3-13C-8  .  Normal retirement date--Determination.   For purposes of this chapter, normal retirement date is the earliest first day of the month on or after the earliest of the date the employee:   (1) Attains age sixty-five;   (2) Attains age sixty-two and has completed ten years of credited service;   (3) Attains age sixty and has completed twenty years of credited service; or   (4) Attains age fifty-five and has completed thirty years of credited service.    For purposes of determining the normal retirement date, credited service does not include unused accumulated annual or sick leave. The normal retirement date shall be the date the employee's retirement benefit begins if the employee has ceased to be an employee on that date and the retirement benefit has not already begun. Unless otherwise provided in this plan, a participant's retirement benefits shall begin on the participant's normal retirement date if the participant has had a severance from employment on that date.     Source:  SL 2020, ch 13, § 15.
SD Codified L § 3-13C-9 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 13C - Department Of Labor And Regulation Employee Retirement|Section 3-13C-9 - Confidentiality of records--Exceptions.

  3-13C-9  .  Confidentiality of records--Exceptions.   Any information contained in any record pertaining to a member governed by this chapter is confidential and shall be used for the sole purpose of carrying into effect the provisions of this chapter. Any record containing the information is not open to inspection by any person or entity except the member, the board, the employees of the system, or the member's employer. The information and records may be released to the member or with the member's consent. The information and records may also be released pursuant to a court order or subpoena.     Source:  SL 2020, ch 13, § 16.