reglab/housing_qa huggingface dataset:
SD Codified L § 3-12C-1647 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1647 - Promulgation of rules to administer retirement benefits for Class C members.

3-12C-1647. Promulgation of rules to administer retirement benefits for Class C members.The board may, pursuant to chapter 1-26, adopt rules to establish uniform procedures for the administration of the retirement benefits of Class C members. Source: SL 2014, ch 21, §7, eff. Apr. 1, 2014; SDCL §3-12-222; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1648 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1648 - Member election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.

3-12C-1648. Member election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.Any vested member of the state cement plant retirement plan may elect to receive a lump sum trustee-to-trustee payment in lieu of monthly retirement benefit payments. The amount of the lump sum trustee-to-trustee payment shall be determined by the system's actuary based on the actuarial equivalent of the member's benefit as defined by the cement plant retirement plan. However, no lump sum trustee-to-trustee payment may be made unless both of the following requirements are satisfied:(1)The member has not received any monthly benefits; and(2)The member directs a trustee-to-trustee transfer of the lump sum payment to a receiving retirement custodian, trustee, or other approved recipient.Any eligible member who desires to make the election authorized by this section shall submit an application to the system. Source: SL 2014, ch 22, §1; SDCL §3-12-223; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1649 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1649 - Surviving spouse election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.

3-12C-1649. Surviving spouse election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.Upon the death of a vested member of the state cement plant retirement plan who died prior to starting a monthly retirement benefit, the member's surviving spouse may elect a lump sum trustee-to-trustee payment in lieu of monthly surviving spouse benefit payments. The amount of the lump sum trustee-to-trustee payment shall be determined by the system's actuary based on the actuarial equivalent, as defined by the cement plant retirement plan, of the spouse's age sixty-five survivor benefit. However, no lump sum trustee-to-trustee payment may be made unless the following requirements are satisfied:(1)Neither the member nor the member's family nor the member's spouse received any monthly benefits from the plan; and(2)The surviving spouse directs a trustee-to-trustee transfer of the lump sum payment to a receiving retirement custodian, trustee, or other approved recipient.Any eligible surviving spouse who desires to make the election authorized by this section shall submit an application to the system. Source: SL 2014, ch 22, §2; SDCL §3-12-224; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1650 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1650 - Department of Labor and Regulation employees' retirement plan--Membership with system--Class D.

  3-12C-1650  .  Department of Labor and Regulation employees' retirement plan--Membership with system--Class D.   As of July 1, 2020, each member of the Department of Labor and Regulation employees’ retirement plan, including any retiree and any vested member, is a Class D member of the system. No additional member may be added to Class D. The administration of retirement benefits for Class D members shall continue with the system in accordance with this chapter and chapter 3-13C.     Source:  SL 2020, ch 13, § 1.
SD Codified L § 3-12C-1651 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1651 - Class D membership--Benefits received.

  3-12C-1651  .  Class D membership--Benefits received.   Each Class D member shall receive the same benefit as provided pursuant to the Department of Labor and Regulation employees’ retirement plan as in effect on June 30, 2020, and in accordance with chapter 3-13C. Each Class D member's benefit shall be annually increased by the COLA as determined by §   3-12C-704  . The benefits of any Class D member and the member's beneficiaries and any operational expenses related to Class D members shall be paid from the plan fund established by this chapter.     Source:  SL 2020, ch 13, § 2.
SD Codified L § 3-12C-1701 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1701 - Correctional security staff benefits.

3-12C-1701. Correctional security staff benefits.For purposes of determining the benefits of correctional security staff, for credited service earned prior to July 1, 1978, the benefits shall be calculated pursuant to §3-12C-1106 and for credited service after July 1, 1978, the benefits shall be calculated pursuant to §3-12C-1107. Source: SL 1977, ch 31, §4; SL 2018, ch 32, §5; SDCL §3-12-92.1; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1703 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1703 - Calculation of benefits of parole agent.

3-12C-1703. Calculation of benefits of parole agent.For purposes of determining the benefits of a parole agent, for credited service earned prior to July 1, 1991, the benefits shall be calculated pursuant to §3-12C-1106 and for credited service after June 30, 1991, the benefits shall be calculated pursuant to §3-12C-1107. Source: SL 1991, ch 29, §3; SDCL §3-12-92.3; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1704 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1704 - Calculating benefits of air rescue firefighter.

3-12C-1704. Calculating benefits of air rescue firefighter.For purposes of determining the benefits of an air rescue firefighter, for credited service earned prior to July 1, 1992, the benefits shall be calculated pursuant to §3-12C-1106 and for credited service after June 30, 1992, the benefits shall be calculated pursuant to §3-12C-1107. Source: SL 1992, ch 34, §3; SDCL §3-12-129; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1705 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1705 - Foundation member conservation officers.

3-12C-1705. Foundation member conservation officers.For purposes of determining the retirement benefits of foundation member conservation officers, for credited service earned before July 1, 1983, benefits shall be calculated pursuant to §3-12C-1106 and for credited service earned after June 30, 1983, benefits shall be calculated pursuant to §3-12C-1107. For purposes of credited service earned before July 1, 1983, a conservation officer has a normal retirement age of sixty-five. For purposes of credited service earned after June 30, 1983, a foundation member conservation officer has a normal retirement age of fifty-five. Source: SL 1983, ch 19, §3; SL 1989, ch 38, §7; SL 2016, ch 32, §32; SDCL §3-12-62.8; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1706 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1706 - Benefits of conservation officers employed by Department of Game, Fish and Parks, Division of Custer State Park, and park rangers--Credited service.

3-12C-1706. Benefits of conservation officers employed by Department of Game, Fish and Parks, Division of Custer State Park, and park rangers--Credited service.To determine the retirement benefits of conservation officers employed by the Department of Game, Fish and Parks, Division of Custer State Park, and park rangers, for credited service earned prior to July 1, 1995, the benefits shall be calculated pursuant to §3-12C-1106 and for credited service after June 30, 1995, the benefits shall be calculated pursuant to §3-12C-1107. Source: SL 1995, ch 18, §3; SDCL §3-12-62.9; SL 2019, ch 22, §1.
SD Codified L § 3-12C-1801 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1801 - Participant--Definition.

  3-12C-1801  .  Participant--Definition.   For the purposes of this part, a participant is a member, retiree, or the surviving spouse of a member or retiree, who is eligible to participate in the qualified benefit preservation arrangement as determined by §3-12C-1804.     Source:  SL 2020, ch 14, § 1.
SD Codified L § 3-12C-1802 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1802 - Qualified benefit preservation arrangement--Definition.

  3-12C-1802  .  Qualified benefit preservation arrangement--Definition.   For the purposes of this part, the qualified benefit preservation arrangement is an arrangement under section 415(m) of the Internal Revenue Code and established in §3-12C-1803.     Source:  SL 2020, ch 14, § 2.
SD Codified L § 3-12C-1803 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1803 - Qualified benefit preservations arrangement--Establishment--Purpose.

  3-12C-1803  .  Qualified benefit preservations arrangement--Establishment--Purpose.   The qualified benefit preservation arrangement is established and placed under the management of the board. The purpose of the qualified benefit preservation arrangement is solely to provide a portion of the benefit that would otherwise have been payable by the system except for the limitations under section 415(b) of the Internal Revenue Code, as determined in §3-12C-1805. The qualified benefit preservation arrangement is intended to constitute a qualified governmental excess benefit arrangement under section 415(m) of the Internal Revenue Code and shall be interpreted and construed consistently with that intent. The qualified benefit preservation arrangement is a portion of the system solely to the extent required under, and within the meaning of, code section 415(m)(3) and §3-12C-1805.    The qualified benefit preservation arrangement is an exempt governmental deferred compensation plan described in code section 3121(v)(3). Code sections 83, 402(b), 457(a) and 457(f)(1) do not apply to the qualified benefit preservation arrangement. With respect to code section 457(a), the maximum amount that may be deferred under the qualified benefit preservation arrangement on behalf of any participant for the taxable year may exceed both the amount in code section 457(b)(2), as adjusted for cost of living increases, and the percent of the participant's includible compensation referred to in that code section. The system may not hold any assets or income under the qualified benefit preservation arrangement in trust for the exclusive benefit of participants.     Source:  SL 2020, ch 14, § 3.
SD Codified L § 3-12C-1804 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1804 - Eligibility to participate.

  3-12C-1804  .  Eligibility to participate.   Effective as of July 1, 2020, a participant is eligible to participate in the qualified benefit preservation arrangement for any calendar year, or portion of the calendar year, during which the participant is entitled to receive a benefit payment from the system, but the benefit is required to be reduced due to the application of the maximum benefit provisions of section 415(b) of the Internal Revenue Code. In that case, the participant may be eligible for a benefit as determined in §3-12C-1805.   The system shall determine which participants are eligible to participate in the qualified benefit preservation arrangement. Eligibility for participation begins in any month in which a participant is entitled to receive a benefit from the system that is required to be reduced due to the application of the maximum benefit provisions of section 415(b) of the Internal Revenue Code and ends in any month in which the benefit is not limited by code section 415(b) or when all benefits under the system have ended.   Eligibility to participate in the qualified benefit preservation arrangement is limited to those retirees or beneficiaries whose benefits under the system are required to be reduced based upon either of the following:   (1) The rules for retirement before age sixty-two under section 415(b)(2)(C) of the Internal Revenue Code; or   (2) The rules regarding benefits for which there is not an actuarial increase due to retirement after age sixty-five as set forth in section 415(b)(2)(D) of the Internal Revenue Code.     Source:  SL 2020, ch 14, § 4.
SD Codified L § 3-12C-1806 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1806 - Cost of living adjustment after benefit begins--Change in benefit payable.

  3-12C-1806  .  Cost of living adjustment after benefit begins--Change in benefit payable.   After retirement, the monthly retirement benefit that would have been payable to the participant if not for the application of section 415(b) of the Internal Revenue Code will increase with any cost of living adjustment as determined by the system, and the applicable benefit limits under 415(b) of the Internal Revenue Code will be adjusted in accordance with section 415(d)(1)(A) of the Internal Revenue Code. As a result, the benefit payable from the qualified benefit preservation arrangement may increase or decrease due solely to the interaction of the cost of living adjustment as determined by the system and the applicable benefit limit adjustment in accordance with section 415(d)(1)(A).     Source:  SL 2020, ch 14, § 6.
SD Codified L § 3-12C-1807 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1807 - Qualified benefit preservation arrangement--Funding.

  3-12C-1807  .  Qualified benefit preservation arrangement--Funding.   The qualified benefit preservation arrangement is, and shall remain, unfunded within the meaning of federal tax laws, and the rights, if any, of any participant to any benefit under the qualified benefit preservation arrangement are limited to those specified in this part.     Source:  SL 2020, ch 14, § 7.
SD Codified L § 3-12C-1808 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1808 - Contributions.

  3-12C-1808  .  Contributions.   The system shall determine the amount necessary to pay the benefits under §  3-12C-1805   for each calendar year. The required contribution will be the aggregate of the benefits payable under §  3-12C-1805   to all participants for the calendar year and an amount determined to be a necessary and reasonable expense of administering the qualified benefit preservation arrangement. Contributions may not be calculated in a manner designed to pay future benefits under §  3-12C-1805  . Each payment of contributions by an employer that would otherwise be made to the system fund will be reduced by the amount necessary to pay the benefits under §  3-12C-1805  , and these contributions will be deposited in the qualified benefit preservation arrangement trust fund. The employer contributions otherwise required under the terms of this chapter shall be divided into those contributions required to pay the benefits under §  3-12C-1805  , and those contributions paid into and accumulated in the system fund to pay the maximum benefits permitted. Under no circumstances may employer contributions to fund the benefits under §  3-12C-1805   be credited to or commingled with contributions paid into and accumulated in the system fund, as otherwise prohibited by §§  3-12C-219   and   3-12C-1803  . The amount deducted from employer contributions and deposited into the qualified benefit preservation arrangement fund does not increase the amount of employer contributions required under the system fund. Any contributions not used to pay the benefits under §  3-12C-1805   for a current calendar year, together with any income accruing to the qualified benefit preservation arrangement fund, shall be used to pay the administrative expenses of the qualified benefit preservation arrangement for the calendar year. Any contributions not used to pay the benefits under §  3-12C-1805   for the current calendar year that remain after paying administrative expenses shall be used to fund administrative expenses or benefits of participants in future years.   The system shall account separately for the amounts determined to be necessary to provide the benefits under §  3-12C-1805   for each participant. However, this separate accounting does not constitute setting aside these amounts for the benefit of a participant. Benefits under §  3-12C-1805   shall be paid from the qualified benefit preservation arrangement fund.   Any consultant or outside auditor, attorney, or actuary performing services for the system may also perform services for the qualified benefit preservation arrangement. Any fees attributable to services performed with respect to the qualified benefit preservation arrangement are payable solely from the qualified benefit preservation arrangement fund.     Source:  SL 2020, ch 14, § 8.
SD Codified L § 3-12C-1809 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1809 - Qualified benefit preservation arrangement trust fund--Establishment--Purpose.

  3-12C-1809  .  Qualified benefit preservation arrangement trust fund--Establishment--Purpose.   The qualified benefit preservation arrangement trust fund is established as a valid trust under the laws of the state, separate from the system fund, to hold contributions of the employers. Contributions to the qualified benefit preservation arrangement fund shall be held separate and apart from the funds comprising the system fund and may not be commingled with assets of the system fund and must be accounted for separately.   The qualified benefit preservation arrangement fund is maintained solely to provide certain benefits under a qualified governmental excess benefit arrangement within the meaning of section 415(m) of the Internal Revenue Code and to pay reasonable and necessary administrative expenses of the arrangement.   The qualified benefit preservation arrangement fund is intended to be a grantor trust, of which the employer is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the code, and shall be construed accordingly. This provision may not be construed to create an irrevocable trust of any kind.   The South Dakota Investment Council may, if it is determined advisable, hold assets of the qualified benefit preservation arrangement fund uninvested for making distributions under the qualified benefit preservation arrangement or may invest assets of the qualified benefit preservation arrangement as otherwise permitted by law.     Source:  SL 2020, ch 14, § 9.
SD Codified L § 3-12C-1810 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1810 - Qualified benefit preservation arrangement assets--Income.

  3-12C-1810  .  Qualified benefit preservation arrangement assets--Income.   Any assets held by the qualified benefit preservation arrangement to assist in meeting the employer's obligations under the qualified benefit preservation arrangement, including all amounts of employer contributions made under the qualified benefit preservation arrangement, all property and rights acquired or purchased with these amounts, and all income attributable to these amounts shall be held separate and apart from other funds of the employer and will be used exclusively for the uses and purposes of participants and general creditors as set forth in this part. Participants have no preferred claim on, or any beneficial interest in, any assets of the qualified benefit preservation arrangement fund. Any rights created under this part are unsecured contractual rights of a participant against the employer. Any assets held by the qualified benefit preservation arrangement fund are subject to the claims of the employer's general creditors under federal and state law in the event of the employer's insolvency.    Income accruing to the qualified benefit preservation arrangement fund constitutes income derived from the exercise of an essential governmental function upon which the qualified benefit preservation arrangement fund is exempt from tax under sections 115 and 415(m)(1) of the Internal Revenue Code.     Source:  SL 2020, ch 14, § 10.
SD Codified L § 3-12C-1811 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1811 - Qualified benefit preservation arrangement--Administration.

  3-12C-1811  .  Qualified benefit preservation arrangement--Administration.   The system shall administer the qualified benefit preservation arrangement. The system shall compile and maintain all records necessary for administration. The board has the same rights, duties, and responsibilities respecting the qualified benefit preservation arrangement as it has with respect to the system. The board shall, as necessary and appropriate, take the following actions:   (1) Establish procedures to administer the qualified benefit preservation arrangement not inconsistent with this part and the Internal Revenue Code, and to amend or rescind any of these procedures;   (2) Determine, consistent with this part, applicable law, rules, or regulations, all questions of law or fact that may arise as to eligibility for participation and eligibility for distribution of benefits, and the status of any person claiming benefits under the qualified benefit preservation arrangement;   (3) Make payments from the qualified benefit preservation arrangement fund to participants pursuant to this part;   (4) Contract with a third party to perform designated administrative services under this part;   (5) Construe and interpret this part as to administrative issues and to correct any defect, supply any omission, or reconcile any inconsistency in the qualified benefit preservation arrangement, subject to and consistent with the code; and   (6) Seek appropriate rulings from the Internal Revenue Service with regard to the status of the qualified benefit preservation arrangement under the Internal Revenue Code.     Source:  SL 2020, ch 14, § 11.
SD Codified L § 3-12C-1812 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-1812 - Qualified benefit preservation arrangement--No assignment.

  3-12C-1812  .  Qualified benefit preservation arrangement--No assignment.   The rights of a person to a benefit, and the benefit itself, payable under this part are hereby exempt from any state, county, municipal, or other local tax and may not be subject to execution, garnishment, attachment, operation of bankruptcy or insolvency laws, or any other process of law whatsoever and is unassignable and nontransferable, except as otherwise provided by §  3-12C-1809   or otherwise in the same manner as a retirement benefit under the system.     Source:  SL 2020, ch 14, § 12.