reglab/housing_qa huggingface dataset:
SD Codified L § 3-12C-1503 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1503 - Rollover of funds--Single premium--Contract effective upon signing--Payment of benefits.

3-12C-1503. Rollover of funds--Single premium--Contract effective upon signing--Payment of benefits.A member who is a retiree receiving a benefit from the system, or, if the member is deceased, the member's surviving spouse who is receiving a benefit from the system and is a beneficiary of the funds subject to this section, may become a supplemental pension participant by direct rollover of pretax funds held by the member in a variable retirement account or in either or both of the plans created in chapters 3-13 and 3-13A into the fund. Any rollover shall be in compliance with the provisions of §401(a)(31) of the Internal Revenue Code and shall be recorded in the participant's supplemental pension contract record. All of a participant's funds rolled into the fund shall be expended in full as the single premium for a supplemental pension contract. No single premium may be less than ten thousand dollars. A supplemental pension contract goes into effect when a participant signs the supplemental pension contract. The initial monthly supplemental pension benefit is payable the first day of the first month after the contract goes into effect. Payment of any prior and current supplemental pension benefits shall be made within two months after the contract is in effect. Source: SL 2008, ch 24, §4; SL 2013, ch 20, §14; SL 2016, ch 32, §47; SL 2018, ch 33, §15; SDCL §3-12-191; SL 2019, ch 22, §1; SL 2019, ch 23, §8.
SD Codified L § 3-12C-1504 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1504 - Types of supplemental pension benefits.

3-12C-1504. Types of supplemental pension benefits. A supplemental pension participant who is a retiree receiving a benefit from the system shall receive one of three types of supplemental pension benefits:(1)A supplemental pension benefit payable monthly for the lifetime of the participant;(2)A supplemental pension benefit payable monthly for the lifetime of the participant and, upon the death of the participant, a supplemental pension benefit payable monthly to the participant's supplemental pension spouse equal to sixty percent of the monthly benefit amount that the participant was receiving at the time of death; or(3)A supplemental pension benefit payable monthly for the lifetime of the participant and, upon the death of the participant, a supplemental pension benefit payable monthly to the participant's supplemental pension spouse equal to one hundred percent of the monthly benefit amount that the participant was receiving at the time of death.A participant who is a retiree receiving a benefit from the system may contract for any of the three types of supplemental pension benefits provided in this section. The contract shall be signed by the supplemental pension participant, and the participant shall provide a copy of the participant's current driver license or other picture identification card issued by a government agency or tribe. If the participant is married, the spouse shall sign the contract and provide a copy of the spouse's current driver license or other picture identification card issued by a government agency or tribe. A participant who is the member's surviving spouse may contract only for a supplemental pension benefit payable monthly for the lifetime of the surviving spouse. Source: SL 2008, ch 24, §5; SL 2016, ch 32, §48; SL 2018, ch 33, §16; SDCL §3-12-192; SL 2019, ch 22, §1; SL 2021, ch 27, § 5.
SD Codified L § 3-12C-1505 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1505 - COLA applicable to supplemental pension benefits.

3-12C-1505. COLA applicable to supplemental pension benefits. A supplemental pension participant shall receive a COLA applicable to the participant's supplemental pension benefit for each year commencing on the July first following the date on which the benefit was first payable, and equal to the COLA determined under § 3-12C-704. However, no COLA is payable if the participant has received payments for less than twelve months. Source: SL 2008, ch 24, §6; SL 2010, ch 20, §15; SL 2016, ch 31, §31; SL 2017, ch 27, §32; SDCL §3-12-193; SL 2019, ch 22, §1; SL 2021, ch 26, § 8.
SD Codified L § 3-12C-1506 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1506 - Death of participant or spouse--Lump sum distribution to beneficiaries--Time for making claim.

3-12C-1506. Death of participant or spouse--Lump sum distribution to beneficiaries--Time for making claim.If payment of monthly supplemental pension benefits ceases due to the death of the participant or the death of a supplemental pension spouse, and the total of monthly supplemental pension benefits paid is less than the amount of the participant's single premium, the difference between the total benefits paid and the single premium shall be disbursed in a lump sum as provided in this section. Amounts payable under this section shall be disbursed as follows:(1)To the beneficiary or entity designated by the participant in the participant's supplemental pension contract record, if any is designated;(2)If no beneficiary or entity is designated, then to all surviving children of the participant, irrespective of age, on a share-alike basis; or(3)If no beneficiary or entity is designated and there are no surviving children, then to the participant's estate.If no claim for payment due upon the death of a deceased participant is made within three years from date of death, the payment shall revert to the system. However, a claim may be honored after the expiration of the three-year reversion period if, in the opinion of the executive director, payment of the claim is warranted by exceptional circumstances.The provisions of this section are not affected by the provisions of §3-12C-409 or 3-12C-410. Source: SL 2008, ch 24, §7; SL 2016, ch 31, §32; SDCL §3-12-194; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1507 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1507 - Contract purchases and benefit payments deemed qualified plan distributed annuity contracts.

3-12C-1507. Contract purchases and benefit payments deemed qualified plan distributed annuity contracts.Supplemental pension contract purchases and supplemental pension benefit payments administered pursuant to the provisions of §§3-12C-1501 to 3-12C-1510, inclusive, are considered to be qualified plan distributed annuity contracts under Internal Revenue Service Treasury Regulation 1.402(c)-2. Source: SL 2008, ch 24, §8; SL 2016, ch 31, §33; SDCL §3-12-195; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1508 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1508 - Minimum distribution rules--Annual benefit limitations.

3-12C-1508. Minimum distribution rules--Annual benefit limitations. Supplemental pension benefit payments shall follow the minimum distribution rules of §401(a)(9) of the Internal Revenue Code and as set forth in §§ 3-12C-1901 to 3-12C-1905, inclusive, and the annual benefit limitations of §415(b)(1)(A) of the Internal Revenue Code and as set forth in §§ 3-12C-1801 to 3-12C-1817, inclusive. Source: SL 2008, ch 24, §9; SL 2013, ch 20, §15; SDCL §3-12-196; SL 2019, ch 22, §1; SL 2021, ch 28, § 1.
SD Codified L § 3-12C-1509 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1509 - Applicability of certain retirement system provisions.

3-12C-1509. Applicability of certain retirement system provisions.Supplemental pension benefits are not subject to the duplicate benefit provisions of §3-12C-709, to the participant reemployment restrictions of §3-12C-703, 3-12C-1402, 3-12C-1403, 3-12C-1404, 3-12C-1405 or 3-12C-1406, nor to the benefit adjustment provisions of §3-12C-1111 or 3-12C-1112. Supplemental pension benefits are optional benefits granted the protections of the provisions of §3-12C-216. Source: SL 2008, ch 24, §10; SL 2010, ch 23, §9, eff. Apr. 1, 2010; SDCL §3-12-197; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1510 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1510 - Exemption from Title 58 and from securities and agent registration.

3-12C-1510. Exemption from Title 58 and from securities and agent registration.While performing their official duties under the provisions of §§3-12C-1501 to 3-12C-1510, inclusive, the board, the employees of the system, the system's actuary, the State Investment Council, and the employees of the State Investment Council are exempt from the provisions of Title 58 and any associated provisions of state law. Supplemental pension benefits and supplemental pension contracts are exempt from the provisions of Title 58.To the extent that supplemental pension contracts may be deemed to be securities, they are exempt from securities registration pursuant to subdivision 47-31B-201(1). While performing their official duties under the provisions of §§3-12C-1501 to 3-12C-1510, inclusive, the board, the employees of the system, the system's actuary, the State Investment Council, and the employees of the State Investment Council are exempt from agent registration provisions pursuant to subdivision 47-31B-402(b)(3). Source: SL 2008, ch 24, §11; SDCL §3-12-198; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1601 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1601 - Previous retirement systems consolidated--Purpose.

3-12C-1601. Previous retirement systems consolidated--Purpose.The Supreme and Circuit Court Judicial Retirement System, district county court and municipal court judges retirement program, South Dakota Teachers Retirement System, South Dakota Municipal Retirement System, South Dakota Law Enforcement Retirement System, and South Dakota Public Employees Retirement System are hereby continued as a consolidated system known as the South Dakota Retirement System to provide an orderly means of continuing benefits of those already retired and those eligible to retire from the respective systems. Source: SL 1967, ch 303, §1; SDCL §3-12-3; SL 1968, ch 216, §1; SL 1974, ch 35, §1; SL 1976, ch 39, §4; SDCL §3-12-46; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1602 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1602 - Intent to provide increased benefits to previously retired members of systems.

3-12C-1602. Intent to provide increased benefits to previously retired members of systems.It is the intent of the Legislature of the State of South Dakota to provide increased benefits for the already retired members of the retirement systems consolidated into the South Dakota Retirement System created by this chapter and to provide the financial resources necessary to adequately pay for the increased benefits. Source: SL 1974, ch 35, §77; SL 2017, ch 27, §23; SDCL §3-12-123; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1603 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1603 - Increase in benefits for previously retired members of systems.

3-12C-1603. Increase in benefits for previously retired members of systems.Any retired members of the Supreme and Circuit Court Judicial Retirement System, District County Court and Municipal Court Judges Retirement Program, South Dakota Teachers Retirement System, South Dakota Municipal Retirement System, South Dakota Law Enforcement Retirement System, South Dakota Public Employees Retirement System and State Cement Plant Retirement Program as of June 30, 1974, who were receiving or eligible to receive a retirement benefit shall be entitled to an increased monthly benefit commencing with the payment due on or after July 1, 1974, equal to the greater of:(1)One hundred ten percent of the benefit the member was entitled to on June 30, 1974, under the retirement system from which the member retired; or(2)Ten dollars times the years of credited contributory service or fraction thereof, under the retirement system from which the member retired, to a maximum of one hundred dollars.The time, manner, and form of payment of the retirement benefit are not modified by the change in benefits provided by this section. Source: SL 1974, ch 35, §§78, 79; SL 2017, ch 27, §24; SDCL §3-12-124; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1604 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1604 - Adjustment of increase for retired members electing optional payment or early retirement.

3-12C-1604. Adjustment of increase for retired members electing optional payment or early retirement.The amount calculated under subdivision 3-12C-1603(2) will be adjusted to its actuarial equivalent if the retired member had elected an optional form of payment other than the normal form provided by the retirement system from which the member retired, or if the age of a retired member is less than the normal retirement age necessary for receiving a normal retirement benefit as provided by the retirement system from which the member retired. Source: SL 1974, ch 35, §79; SL 2017, ch 27, §25; SDCL §3-12-125; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1605 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1605 - Previously retired members paid from consolidated fund.

3-12C-1605. Previously retired members paid from consolidated fund.Notwithstanding the repeal on July 1, 1974, of chapters 3-12; 3-13; 9-15; 13-45; certain provisions of chapter 16-8; chapter 16-11A, and certain provisions of chapter 33-13, persons retired under those programs, and teachers retired under the provisions of chapter 51 of the Session Laws of 1939, as amended, who retired pursuant to that act prior to July 1, 1951, and beneficiaries of deceased retirees of those programs, to the extent they are being paid benefits on July 1, 1974, shall be secured in the benefits provided by those provisions from the fund established pursuant to this chapter. Source: SL 1974, ch 35, §82; SDCL §3-12-126; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1606 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1606 - Members of consolidated systems entitled to benefits of prior law--Retention of Codified Laws.

3-12C-1606. Members of consolidated systems entitled to benefits of prior law--Retention of Codified Laws.Notwithstanding the repeal on July 1, 1974, of chapters 3-12; 3-13; 9-15; 13-45; certain provisions of chapter 16-8; chapter 16-11A; and certain provisions of chapter 33-13, all members of systems established thereunder shall be entitled to retire at the age, with the length of service and the benefits available to them under those provisions or the provisions of this chapter. For the purposes of this section, the executive director shall retain as part of the permanent files all volumes of the South Dakota Codified Laws. Source: SL 1974, ch 35, §83; SL 1975, ch 39, §7; SL 2016, ch 31, §27; SDCL §3-12-127; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1607 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1607 - Amount of benefits for justice or judge mandatorily retired.

3-12C-1607. Amount of benefits for justice or judge mandatorily retired.Any justice of the Supreme Court or judge of the circuit court of this state who is automatically retired pursuant to the provisions of §16-1-4.1 or 16-6-31, or who, having reached age seventy, retired before January 7, 1975, and who has not fully qualified for retirement benefits as provided by this chapter shall nevertheless receive retirement benefits in the proportion that his or her total time served bears to fifteen years, or if the justice or judge has served in excess of fifteen years then receive full benefits. Source: SL 1973, ch 133, §3; SDCL Supp, §16-8-9.3; SL 1974, ch 35, §49; SDCL §3-12-93; SL 2019, ch 22, §§39, 45.
SD Codified L § 3-12C-1608 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1608 - Board of Regents employees--Definition of balances.

3-12C-1608. Board of Regents employees--Definition of balances. Terms as used in §§3-12C-1608 to 3-12C-1612, inclusive, unless the context otherwise requires, shall mean:(1)"Board of Regents' balance," the contributions from April 1, 1964, to June 30, 1975, plus accumulated interest, made by the Board of Regents and deposited on behalf of an employee in any pension fund that is established by contract with an insurance company;(2)"Excess balance," the contributions in addition to those accumulated in the individual balance and made from April 1, 1964, to June 30, 1975, with accumulated interest, by a Board of Regents employee included in the provisions of §§3-12C-1608 to 3-12C-1612, inclusive, and deposited in any pension fund that is established by contract with an insurance company;(3)"Individual balance," the contributions from April 1, 1964, to June 30, 1975, with accumulated interest made on a matching basis by the Board of Regents' employees included in the provisions of §§ 3-12C-1608 to 3-12C-1612, inclusive, and the Board of Regents and deposited on behalf of the employee in any pension fund that is established by contract with an insurance company. Source: SL 1975, ch 38, §1; SL 1979, ch 29, §1; SDCL §3-12-69.1; SL 2019, ch 22, §1; SL 2021, ch 27, § 6.
SD Codified L § 3-12C-1610 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1610 - Contract for purchase of service for Board of Regents.

3-12C-1610. Contract for purchase of service for Board of Regents.The Board of Regents shall enter into a contractual agreement with the Board of Trustees on the same basis as a new participating unit for purchase of a maximum of twenty years of service prior to April 1, 1964, pursuant to the provisions of §3-12C-308 and subject to the provisions of §3-12C-1611. Source: SL 1975, ch 38, §3; SDCL §3-12-69.3; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1611 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1611 - Contributory service credited to Board of Regents employees--Eligibility of nonparticipating employees--Qualification for prior credited service.

3-12C-1611. Contributory service credited to Board of Regents employees--Eligibility of nonparticipating employees--Qualification for prior credited service.Employees of the Board of Regents shall be credited with contributory service for each year such employee participated in the retirement plan in effect between April 1, 1964, and June 30, 1975. Employees of the Board of Regents who did not participate during all the years that they were eligible to participate in the Board of Regents retirement plan in effect from April 1, 1964, to June 30, 1975, are eligible for credited service only if purchase is made pursuant to §3-12C-504. Credited service must be obtained for all South Dakota service between April 1, 1964, and June 30, 1975, in order to qualify an employee for credited service prior to April 1, 1964, as granted by §3-12C-1610. Source: SL 1975, ch 38, §4; SDCL §3-12-69.4; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1612 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1612 - Normal retirement allowance reduced by actuarial equivalent--Deposit of individual balance--Member contributions.

3-12C-1612. Normal retirement allowance reduced by actuarial equivalent--Deposit of individual balance--Member contributions.All benefits payable pursuant to §3-12C-1106 shall be reduced by the actuarial equivalent that could be purchased by a sum of money equal to twice the value of the Board of Regents' balance payable at the member's retirement. The Board of Regents is hereby authorized, if the Board of Regents receives member approval, to deposit with the system the individual balance accumulated in the regents retirement system during the period April 1, 1964, to June 30, 1975. Such deposit shall not include the excess balance as defined in §3-12C-1608. In the administration of this chapter, the individual balance shall be considered as member contributions. Source: SL 1975, ch 38, §5; SL 1976, ch 40, §2; SL 1979, ch 29, §2; SDCL §3-12-69.5; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1613 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1613 - Allowance to surviving spouse of law enforcement officer retired for disability.

3-12C-1613. Allowance to surviving spouse of law enforcement officer retired for disability. The surviving spouse of a disability retiree under the Law Enforcement Officers' Retirement System as consolidated into the South Dakota Retirement System pursuant to §3-12C-1601 shall upon the death of the member be entitled to an annuity equal to one-half the member's annuity at the time of death. The retirement for disability upon which annuity was based shall have been approved prior to July 1, 1974. Source: SL 1979, ch 26, §3A; SDCL §3-12-94.1; SL 2019, ch 22, §1; SL 2021, ch 27, § 7.
SD Codified L § 3-12C-1615 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1615 - Rapid City firefighter membership in system--Benefits and credited service.

3-12C-1615. Rapid City firefighter membership in system--Benefits and credited service.On July 1, 1982, all employees of the municipality of Rapid City who are participants in the municipality of Rapid City firemen pension fund on June 30, 1982, and all retirees receiving benefits from that fund shall become members of the system. Each employee shall receive credited service under the system for all service earned under the municipality of Rapid City firemen pension fund. Source: SL 1982, ch 37, §1; SL 1992, ch 60 §2; SDCL §3-12-62.2; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1616 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1616 - Rapid City firefighter retirement benefits--Normal retirement age.

3-12C-1616. Rapid City firefighter retirement benefits--Normal retirement age.Upon retirement, each employee described in §3-12C-1615 shall receive the greater of:(1)The member's retirement benefit calculated under this chapter; or(2)The retirement benefit calculated under the municipality of Rapid City firemen pension fund based on credited service up to June 30, 1982, and compensation up to June 30, 1982.The normal retirement age of each such employee is fifty-five. Source: SL 1982, ch 37, §2; SL 1992, ch 60, §2; SL 2017, ch 27, §8; SDCL §3-12-62.3; SL 2019, ch 22, §1.