reglab/housing_qa huggingface dataset:
SD Codified L § 3-12C-215 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-215 - Confidentiality of records--Exceptions.

3-12C-215. Confidentiality of records--Exceptions.Any information contained in any record pertaining to a member of the system is confidential and shall be used for the sole purpose of carrying into effect the provisions of this chapter, chapter 3-13, and chapter 3-13A. 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 2002, ch 22, §5; SDCL §3-12-58.1; SL 2019, ch 22, §1; SL 2020, ch 12, § 3.
SD Codified L § 3-12C-216 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-216 - Exemption of contributions and benefits from taxation and process.

3-12C-216. Exemption of contributions and benefits from taxation and process.The rights of a person to a benefit, return of accumulated contributions, the benefit itself, any optional benefits and any other right accrued or accruing under the provisions of this chapter and all moneys belonging to the system 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 shall be unassignable, 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 1959, ch 84, §40; SDC Supp 1960, §15.3943; SL 1961, ch 255, §42; SDCL §§9-15-70, 13-45-69; SL 1970, ch 25, §13; SDCL Supp, §3-12-45; SL 1974, ch 35, §69; SL 1985, ch 24, §3; SL 2013, ch 20, §11; SDCL §3-12-115; SL 2019, ch 22, §1.
SD Codified L § 3-12C-217 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-217 - Domestic relations orders--Determination as to whether qualified--Restrictions on provisions.

3-12C-217. Domestic relations orders--Determination as to whether qualified--Restrictions on provisions.For purposes of §3-12C-216, the system shall determine if a domestic relations order is a qualified domestic relations order. Upon receipt of a domestic relations order, the system shall promptly issue a written notice of receipt to the member and any alternate payee. Within a reasonable period of time, the system shall issue a determination indicating if the domestic relations order qualifies as a plan-approved domestic relations order in accordance with §414(p) of the Internal Revenue Code.No order may require the payment of benefits to an alternate payee before the retirement of a member or the withdrawal of a member's accumulated contributions for a distribution to an alternate payee. In addition, no order may require the payment of monthly benefits to an alternate payee after the death of the member.No order approved after July 1, 2018, may require the payment of benefits to the alternate payee's estate after the death of the alternate payee. The amount paid in monthly benefits to the alternate payee shall be paid to the member after the death of the alternate payee. Source: SL 2018, ch 33, §11; SDCL §3-12-115.1; SL 2019, ch 22, §1.
SD Codified L § 3-12C-218 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-218 - Business name of system--Treasurer.

3-12C-218. Business name of system--Treasurer.The Board of Trustees shall transact all business and hold all cash in the name of the South Dakota Retirement System. The state treasurer shall be the treasurer of the system. Source: SL 1967, ch 303, §3 (3); SDCL §3-12-13; SL 1968, ch 216, §1; SL 1974, ch 35, §§1, 17; SDCL §3-12-60; SL 2019, ch 22, §1.
SD Codified L § 3-12C-219 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-219 - Use of fund restricted.

3-12C-219. Use of fund restricted.No part of the fund created by this chapter may be used for any purpose other than for the exclusive benefit of members and their beneficiaries, payment of reasonable administrative expenses of the system, and reimbursement of overpayments made by employers. No participating unit may receive any amounts from the fund except such amounts which may remain after the satisfaction of all liabilities of the system to its members. Source: SL 1984, ch 23, §3; SL 2012, ch 26, §10; SDCL §3-12-72.1; SL 2019, ch 22, §1.
SD Codified L § 3-12C-220 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-220 - Diversion of funds prohibited--Legislative policy.

3-12C-220. Diversion of funds prohibited--Legislative policy.In order to ensure employee confidence in the preservation and management of the South Dakota Retirement System, it is legislative policy that there should be no legislative enactment nor administrative action which would have the effect, directly or indirectly, of diverting any funds of the system to any purpose other than the administration and support of the benefits of members of the system. Source: SL 1990, ch 34; SDCL §3-12-72.3; SL 2019, ch 22, §1.
SD Codified L § 3-12C-221 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-221 - Rights of members on termination of system or discontinuance of contributions.

3-12C-221. Rights of members on termination of system or discontinuance of contributions.If the system is terminated, or if contributions to the system are discontinued, the rights of all members to benefits that have accrued as of the date of termination or discontinuation of contributions shall vest. A member's recourse against the fund shall be limited by the extent to which the member's benefits are funded. Source: SL 1984, ch 23, §4; SDCL §3-12-72.2; SL 2019, ch 22, §§13, 45.
SD Codified L § 3-12C-222 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-222 - Application of forfeitures.

3-12C-222. Application of forfeitures.Forfeitures arising because of termination of employment before the member becomes eligible for benefits or for any other reason shall be applied to reduce the costs of the system and not to increase the benefits otherwise payable to members. Source: SL 1984, ch 23, §5; SDCL §3-12-76.2; SL 2019, ch 22, §1.
SD Codified L § 3-12C-223 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-223 - Investment of assets by investment council--Pooling of funds--Standards for investment--Compliance with federal divestiture enactments.

  3-12C-223  .  Investment of assets by investment council--Pooling of funds--Standards for investment--Compliance with federal divestiture enactments.   The State Investment Council as provided in §  4-5-12   is responsible for the investment of the assets of the system. The Investment Council may pool the several retirement funds for investment purposes and the investment of the funds is not restricted by the provisions of §  4-5-26  , but is governed by the provisions of §  4-5-27  . The assets of the system may not be managed in any manner for the purposes of social investment. The State Investment Council shall invest member trust funds in a manner that is solely designed to provide for the exclusive benefit of the members and benefit recipients of the system. The foregoing provisions notwithstanding, the State Investment Council shall establish a shareholder activism policy to engage and promote compliance with federal divestiture enactments by the United States Congress and to recognize the risks associated with companies doing business in the countries identified. Once the United States Congress has acted, the State Investment Council may initiate the shareholder activism policy on its own accord, or shall do so at the direction of the Legislature by resolution. The State Investment Council shall report semi-annually on council actions related to the shareholder activism policy. The report shall include an analysis of the success of the policy in accomplishing the goal of promoting compliance with the federal enactments and its impact on all sales of affected companies.     Source:  SL 1974, ch 35, §71; SL 1989, ch 39; SL 2010, ch 21, §3; SDCL §  3-12-117 ; SL 2019, ch 22, §1; SL 2020, ch 12, § 4.
SD Codified L § 3-12C-224 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-224 - Quadrennial independent report on investment performance.

3-12C-224. Quadrennial independent report on investment performance.The board shall retain the services of an independent contractor, not involved in the investment process, to make a report to the board not less than every four years on the investment performance results of the assets of the retirement funds. Source: SL 1974, ch 35, §72; SL 2016, ch 31, §25; SDCL §3-12-118; SL 2019, ch 22, §1.
SD Codified L § 3-12C-225 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-225 - Review of investment policy when return lower than average--Report to Governor and Legislature.

3-12C-225. Review of investment policy when return lower than average--Report to Governor and Legislature.In the event the investment return on the common stock portfolio or bond portfolio is lower than the average return achieved by other institutional investors of pension funds, then the Investment Council shall review the way in which the assets are being invested and the sources of investment advice being utilized to determine what changes, if any, are desirable to produce an investment return equal to or greater than the average, and shall make a report to the Governor and the Legislature on the investment performance results and any changes necessary to improve the investment return. Source: SL 1974, ch 35, §73; SDCL §3-12-119; SL 2019, ch 22, §1.
SD Codified L § 3-12C-226 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-226 - Annual actuarial valuation of system--Scope of valuation.

3-12C-226. Annual actuarial valuation of system--Scope of valuation.To determine and verify the adequacy of the member and employer contributions to the system, an actuarial valuation of the system shall be made annually by an approved actuary.The actuarial valuation shall include:(1)A demonstration of the relationship of the current member and employer contributions, expressed as a percentage of payroll, to the minimum actuarial requirement to support benefits; and(2)The current year's actuarial value funded ratio and fair value funded ratio as well as the ratios from the prior actuarial valuations. Source: SL 1974, ch 35, §74; SL 1996, ch 27; SL 2004, ch 42, §13; SL 2018, ch 33, §12; SDCL §3-12-120; SL 2019, ch 22, §§14, 45.
SD Codified L § 3-12C-227 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-227 - Actuarial assumptions on which valuation based--Report of change.

3-12C-227. Actuarial assumptions on which valuation based--Report of change.The actuarial valuation required by §3-12C-226 shall be based on actuarial assumptions adopted by the Board of Trustees as a result of an actuarial experience analysis. The board may not make any change in the actuarial assumptions unless the approved actuary retained to make the actuarial valuation certifies that the change is reasonable. If the board makes any such change, it shall report the change to the Governor and to the Retirement Laws Committee. The report shall include the actuary's and board's analysis of the conditions that led to the change. Source: SL 1974, ch 35, §76; SL 1980, ch 31, §2; SL 2004, ch 42, §2; SDCL §3-12-121; SL 2019, ch 22, §1.
SD Codified L § 3-12C-228 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-228 - Funding of system--Review--Report--Corrective action.

3-12C-228. Funding of system--Review--Report--Corrective action.The board shall review the funding of the system and shall make a report to the Governor and the Retirement Laws Committee if the funding of the system does not meet both of the following conditions:(1)The fair value funded ratio is greater than or equal to one hundred percent; and(2)The contribution rate meets or exceeds the minimum actuarial requirement to support benefits.The report shall include recommendations for the circumstances and timing for any corrective action, including benefit changes, to improve the conditions in subdivisions (1) and (2). For Class D members, corrective action is limited to reducing or eliminating the cost of living adjustment. Based on this report and the recommendations of the board, the Legislature may adopt corrective action to improve the conditions in subdivisions (1) and (2).Eligibility for benefits, the amount of any benefit, and the rate of member contributions established in this chapter are not the contractual rights of any member and are subject to change by the Legislature for purposes of corrective action to improve the conditions in subdivisions (1) and (2). Source: SL 1974, ch 35, §75; SL 1986, ch 37, §12; SL 2004, ch 42, §1; SL 2008, ch 20, §15; SL 2013, ch 21, §1; SL 2016, ch 31, §26; SL 2017, ch 27, §2; SL 2018, ch 33, §14; SDCL §3-12-122; SL 2019, ch 22, §1; SL 2020, ch 13, § 4.
SD Codified L § 3-12C-229 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-229 - Annual report of funded status of system.

3-12C-229. Annual report of funded status of system.At the beginning of each legislative session, the board shall provide the Governor and the Legislature with an annual report of the funded status of the system for the fiscal year that ended the previous June thirtieth. Source: SL 2017, ch 27, §3; SDCL §3-12-122.1; SL 2019, ch 22, §1.
SD Codified L § 3-12C-230 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-230 - Record of board proceedings--Annual report .

3-12C-230. Record of board proceedings--Annual report .The board shall keep complete records of its proceedings which shall be open to public inspection. The board shall prepare an annual report setting forth its financial information for the previous fiscal period including the amount of the accumulated cash and securities of the system, and the results of the most recent actuarial valuation. A copy of the report shall be available on the system's website. Source: SL 1967, ch 303, §3 (11); SDCL §3-12-12; SL 1968, ch 216, §1; SL 1974, ch 35, §16; SL 1977, ch 28, §5; SDCL §3-12-59; SL 2019, ch 22, §§10, 45.
SD Codified L § 3-12C-301 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-301 - Members of system.

3-12C-301. Members of system. All of the following full-time employees are included as members in the system:(1)All state employees;(2)All certified school employees;(3)All justices, judges, and magistrate judges;(4)All police officers and firefighters of participating municipalities;(5)All general employees of participating municipalities;(6)All employees of participating counties;(7)All classified employees of school districts that are participating with the school districts' classified employees and all other classified employees;(8)All employees of the Board of Regents; and(9)All state law enforcement officers. Source: SL 1957, ch 142, § 8; SL 1959, ch 84, § 15; SDC Supp 1960, §§ 15.3919 (1), 44.06A08; SL 1961, ch 255, § 17; SL 1963, ch 86, § 1; SL 1965, ch 220, § 13; SL 1967, ch 303, § 4; SDCL §§ 3-12-19, 3-13-12, 9-15-25, 9-15-26, 13-45-21; SL 1968, ch 56, § 1; SL 1968, ch 216, § 1; SDCL Supp, § 3-12-19.2; SL 1974, ch 35, § 19; SL 1975, ch 38, § 8; SL 1976, ch 39, § 7; SL 1981, ch 13, § 1; SL 2012, ch 26, § 8; SDCL § 3-12-62; SL 2019, ch 22, § 1; SL 2020, ch 12, § 5; SL 2021, ch 29, § 9, eff. Apr. 1, 2021.
SD Codified L § 3-12C-302 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-302 - Membership in system--Exclusions.

3-12C-302. Membership in system--Exclusions. Membership in the system shall exclude the following:(1)All elective officials except justices and judges, unless the official is currently contributing or has previously contributed to the system or the official has elected and is otherwise qualified to become a member of the system;(2)The governing body of any participating county, municipality, or other political subdivision; and(3)All personnel employed by the municipality of Sioux Falls before July 1, 2013. However, any person employed before July 1, 2013, who separates from service with the municipality of Sioux Falls and is subsequently rehired by the municipality of Sioux Falls and begins working after June 30, 2013, as a full-time employee shall be a member of the system. Source: SL 1967, ch 303, §4; SDCL §3-12-20; SL 1968, ch 216, §1; SDCL Supp, §3-12-20.1; SL 1973, ch 24, §3; SL 1974, ch 35, §20; SL 1975, ch 38, §9; SL 1975, ch 39, §4; SL 1976, ch 39, §6; SL 1977, ch 30, §1; SL 1980, ch 33, §1; SL 2011, ch 1 (Ex. Ord. 11-1), §33, eff. Apr. 12, 2011; SL 2013, ch 19, §2; SL 2015, ch 25, §4; SL 2016, ch 31, §7; SDCL §3-12-63; SL 2019, ch 22, §1; SL 2019, ch 23, §3; SL 2020, ch 13, § 5; SL 2021, ch 29, § 10, eff. Apr. 1, 2021.
SD Codified L § 3-12C-303 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-303 - Newly elected officials permitted to join system--Requirements--Credited service.

3-12C-303. Newly elected officials permitted to join system--Requirements--Credited service. A newly-elected official, who is a full-time employee of a participating unit and not a member of the system, may elect to become a member. However, the official shall make the election when the official is first eligible to participate in the system, and the official's election is irrevocable for as long as the official is an elected official. If the official is a current contributing member or has previously contributed to the system, the elected official shall participate in the system. If an elected official has elected not to participate in the system, the official is not eligible to make a new election. The official's credited service is limited to service for which contributions are made. Source: SL 1967, ch 303, §4; SDCL §3-12-21; SL 1968, ch 216, §1; SL 1970, ch 25, §3; SL 1974, ch 35, §21; SDCL §3-12-64; SL 2019, ch 22, §1; SL 2019, ch 23, §2; SL 2021, ch 29, § 11, eff. Apr. 1, 2021.
SD Codified L § 3-12C-304 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-304 - Continuation of previously established retirement plan--Vote of employees required to participate in consolidated system.

  3-12C-304  .  Continuation of previously established retirement plan--Vote of employees required to participate in consolidated system.   Any political subdivision or public corporation may operate a retirement plan created prior to July 1, 1974, unless the retirement plan of the political subdivision or public corporation is accepted in the system created by this chapter. Notwithstanding the provisions of this section and §  3-12C-306  , no political subdivision or public corporation with a retirement plan may be accepted as a participating unit unless two-thirds of the members of the retirement plan vote to become members of the system created by this chapter.     Source:  SL 1974, ch 35, §23; SDCL §  3-12-65 ; SL 2019, ch 22, §1; SL 2020, ch 12, § 6.
SD Codified L § 3-12C-305 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-305 - Newly established retirement plans of political subdivisions and public corporations to participate in consolidated system.

3-12C-305. Newly established retirement plans of political subdivisions and public corporations to participate in consolidated system.No political subdivision or public corporation, including municipalities, counties, and chartered governmental units, may establish any retirement plan unless such political subdivision or public corporation becomes a participating unit of the system created in this chapter. Source: SL 1974, ch 35, §24; SDCL §3-12-66; SL 2019, ch 22, §1.
SD Codified L § 3-12C-306 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-306 - Election by political subdivision or public corporation to participate in consolidated system.

3-12C-306. Election by political subdivision or public corporation to participate in consolidated system. Any political subdivision and any public corporation, including municipalities, counties and chartered governmental units in the State of South Dakota, may become a participating unit by a duly passed resolution of its governing body. Any political subdivision not participating in the system on June 30, 1985, may become a participating unit for only its class A members or only its class B members, or for both classes together. If a political subdivision elects to participate for either one class of members or for both classes, all full-time employees in that class or classes shall become members. Source: SL 1961, ch 255, §16; SL 1965, ch 220, §12; SL 1967, ch 303, §10; SDCL §§3-12-36, 9-15-24; SL 1968, ch 216, §1; SL 1974, ch 35, §25; SL 1985, ch 25; SDCL §3-12-67; SL 2019, ch 22, §1; SL 2021, ch 29, § 12, eff. Apr. 1, 2021.
SD Codified L § 3-12C-307 (2021)
2021 South Dakota Codified Laws|Title 3 - Public Officers and Employees|Chapter 12C - South Dakota Retirement System|Section 3-12C-307 - Coverage of joint employees of participating and nonparticipating political subdivisions.

3-12C-307. Coverage of joint employees of participating and nonparticipating political subdivisions.If a participating unit and a nonparticipating South Dakota political subdivision or public corporation agree to provide certain public services on a joint basis, they may agree to consider persons employed pursuant to the agreement as if they were solely employees of the participating unit for the exclusive purposes of the system created in this chapter. The total compensation paid a person because of the employment shall be considered compensation paid by the participating unit and services rendered by the person because of the employment shall be considered service rendered by the employee to the participating unit. Source: SL 1973, ch 51, §1; SDCL Supp, §9-15-25.1; SL 1974, ch 35, §26; SDCL §3-12-68; SL 2019, ch 22, §§15, 45.