reglab/statecodes huggingface dataset:
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:25 - Revocation of joint and survivor benefit

Current through Register Vol. 51, page 10, July 15, 2024
Once elected, the joint and survivor option may not be
				  revoked except under the following conditions:
(1) Revocation shall be made in writing in a
				form prescribed by the board and filed with the board before the end of the
				first calendar month for which an optional pension benefit has become payable
				to the pensioner;
(2) Revocation
				may not become effective until 12 months after it has been filed. Until then
				any benefits payable shall be paid in the amount determined under the joint and
				survivor option, without retroactive adjustment of such payments once
				revocation takes effect;
(3) The
				option shall be automatically revoked if the contingent annuitant dies. If the
				contingent annuitant is the employee's spouse and the spouse is divorced from
				the employee before a pension in the optional form becomes effective, the
				employee may continue the option if, within 90 days after such an event, the
				employee chooses another contingent annuitant and communicates it to the board
				in writing; and
(4) The designation
				of a contingent annuitant may not be changed after the first pension payment
				under the option has been made to the pensioner.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:26 - Limitation of joint and survivor benefit option

Current through Register Vol. 51, page 10, July 15, 2024
The joint and survivor option may not be paid if payment
				  would result in a monthly pension of less than $20 to the pensioner or the
				  contingent annuitant.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:27 - Credited service

Current through Register Vol. 51, page 10, July 15, 2024
Credited service under the plan means the last period of
				  continuous employment as a full-time employee with the commission prior to
				  termination of employment for the purpose of retirement. However, if a
				  temporary employee moves from temporary to a full-time status without a break
				  in service, the employee's credited service shall include the period of
				  temporary employment.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:28 - Interruption of continuous employment

Current through Register Vol. 51, page 10, July 15, 2024
If continuous employment is interrupted for any cause,
				  except as provided in the plan, any credited service accrued for periods of
				  employment prior to the interruption may not be considered, and the employee
				  shall be treated as a new employee in determining credited service. However,
				  continuous employment is not considered interrupted by leaves of absence from
				  regular employment authorized by the commission for:
(1) Disability, except in connection with
				retirement;
(2) Service in the
				armed forces of the United States, if the employee returns to employment with
				the commission within the period of time prescribed by law for the reemployment
				of veterans; or
(3) Not more than
				12 months for any other cause or reason satisfactory to the commission.
No service credit may be granted during any period of
				  authorized leave of absence.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:29 - Vesting of service credits

Current through Register Vol. 51, page 10, July 15, 2024
An employee who terminates employment for any reason other
				  than death or early or normal retirement is entitled to a deferred pension if
				  the employee has accumulated at least three years of credited service. The
				  deferred pension shall start on the normal retirement date, or, at the request
				  of the employee, as early as age 62 in accordance with §§
									20:16:18:08 and
				  20:16:18:09. The deferred pension
				  amount shall be calculated using the benefit formula in effect at the time of
				  the employee's termination with the commission and the years of continuous
				  employment to the date of termination. If this plan is terminated, the accrued
				  benefits of each participant in the plan immediately become 100 percent vested
				  and nonforfeitable. If an employee becomes a participant in the retirement plan
				  within the three-year period preceding the employee's
				  65th birthday, the participant's normal retirement
				  date is the first day of the calendar month coincident with or immediately
				  following the participant's third anniversary of the plan participation. If a
				  participant's employment with the commission is terminated at or after
				  attainment of the participant's normal retirement date, the participant is
				  vested in and entitled to receive the participant's accrued
				  benefit.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:30 - Advance written applications required

Current through Register Vol. 51, page 10, July 15, 2024
An application for the commencement of pension benefits
				  shall be in writing on a form and in a manner prescribed by the board, and
				  shall be filed with the board in advance of the first month for which benefits
				  are to be paid.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:31 - Information required

Current through Register Vol. 51, page 10, July 15, 2024
An employee, pensioner, or beneficiary shall furnish the
				  board with any information or proof requested by it and reasonably required to
				  administer the plan. Failure on the part of any person to comply with such a
				  request promptly, completely, and in good faith is sufficient grounds for
				  denying benefits to that person. If a pensioner or beneficiary makes a false
				  statement material to any claim for benefits, the person shall be denied all
				  benefits, and the board may recover any payments made in reliance on the false
				  statement.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:32 - Payments for incompetents

Current through Register Vol. 51, page 10, July 15, 2024
If a pensioner or beneficiary is mentally or physically
				  incompetent, payments shall be made to any person who has satisfied the board
				  that he or she is caring for the pensioner or beneficiary. Such payments shall
				  be a complete discharge of the liabilities under this plan.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:33 - Nonalienation of benefits

Current through Register Vol. 51, page 10, July 15, 2024
No benefit payable at any time under the plan may be subject
				  in any manner to alienation, sale, transfer, assignment, pledge, attachment, or
				  encumbrance of any kind. An attempt to encumber a benefit in any way is void. A
				  benefit is not subject in any manner to the debts or liabilities of a person to
				  whom the benefit is payable. However, the board may make distributions pursuant
				  to a qualified domestic relations order as defined in Internal Revenue Code
				  § 414(p), if the board has notified the employee and any alternate payee
				  of the order and has determined that the order is a qualified domestic
				  relations order.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:34 - Terms of employment not affected

Current through Register Vol. 51, page 10, July 15, 2024
Under no circumstances may an employee's participation in
				  the plan be construed to constitute a contract of continuing employment or in
				  any manner obligate the commission to continue or discontinue the services of
				  an employee.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:35 - Reference to other documents

Current through Register Vol. 51, page 10, July 15, 2024
Any reference in the plan to rights under the plan shall be
				  construed as a reference to rights also under any other instrument, trust
				  agreement, or insurance or annuity contract created or entered into to effect
				  the purposes of the plan.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:36 - Rounding of benefit amounts

Current through Register Vol. 51, page 10, July 15, 2024
The monthly amount of pension benefits, as computed in
				  accordance with §§
									20:16:18:07 to
				  20:16:18:22, inclusive, or if an
				  adjustment provided elsewhere is applied, shall be rounded to the next higher
				  whole dollar amount.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:37 - Improvement factor

Current through Register Vol. 51, page 10, July 15, 2024
The annual increase in the amount of the benefit allowance
				  for each year commencing on the July first that is at least 12 months following
				  the date on which the benefit was first payable shall be 3.1 percent,
				  compounded annually. This annual increase, effective July 1, 1999, applies to
				  all employees who retire after June 30, 1999, or who terminate employment after
				  June 30, 1999, for any reason other than early or normal retirement after three
				  years of credited service. The improvement factor shall commence on the July
				  first that is at least 12 full calendar months following the date of
				  termination. No individual may be required to incur another improvement factor
				  waiting period when changing from one type of benefit to another type of
				  benefit. Once the original waiting period has applied, future benefits shall
				  automatically increase each July 1 thereafter.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:38 - Minimum distribution requirements

Current through Register Vol. 51, page 10, July 15, 2024
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.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:39 - Limitation on benefits

Current through Register Vol. 51, page 10, July 15, 2024
This section does not constitute an election under §
				  415(b)(10)(C) of the Internal Revenue Code. Benefit payments under this plan
				  shall follow 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.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:40 - Privatization of the plant

Current through Register Vol. 51, page 10, July 15, 2024
The plant was privatized on March 16, 2001. Any pensioner or
				  former employee who qualifies to be an inactive vested employee affected by the
				  privatization is entitled to the benefits accrued as of the effective date of
				  the privatization.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Section 20:16:18:41 - Amendment and termination of the plan

Current through Register Vol. 51, page 10, July 15, 2024
The board reserves the right to amend this plan at any time
				  subject to Internal Revenue Code rules regarding accrued benefits of
				  participants. No modification or amendment of the plan may make it possible for
				  any part of the income or assets of the fund to be used for or diverted to
				  purposes other than for the exclusive benefit of the participants and their
				  beneficiaries. Also, no modification or amendment of the plan may reduce
				  benefits to the participants, but benefits may be increased.
The board reserves the right to discontinue this plan in
				  whole or in part. In the event of a termination of the plan, the rights of all
				  affected participants to benefits then accrued shall thereupon become 100
				  percent vested and nonforfeitable. The board shall take such steps as it
				  determines necessary or desirable to comply with applicable
				  laws.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:18 - Retirement plan 5A › Appendix A - 1971 Group Annuity Mortality Tables

Current through Register Vol. 51, page 10, July 15, 2024
SEE: §
										20:16:18:01(6)
1971 GROUP ANNUITY MORTALITY TABLE
(Probabilities are given from age 20 to
				  110)
FEMALE
20 0.000260
21 0.000275
22 0.000292
23 0.000309
24 0.000327
25 0.000347
26 0.000368
27 0.000390
28 0.000414
29 0.000440
30 0.000469
31 0.000499
32 0.000533
33 0.000569
34 0.000608
35 0.000651
36 0.000698
37 0.000750
38 0.000807
39 0.000869
40 0.000938
41 0.001013
42 0.001094
43 0.001186
44 0.001286
45 0.001397
46 0.001519
47 0.001654
48 0.001802
49 0.001967
50 0.002151
51 0.002324
52 0.002520
53 0.002738
54 0.002982
55 0.003256
56 0.003574
57 0.003948
58 0.004388
59 0.004901
60 0.005489
61 0.006156
62 0.006898
63 0.007712
64 0.008608
65 0.009563
66 0.010565
67 0.011621
68 0.012877
69 0.014461
70 0.016477
71 0.019000
72 0.021911
73 0.025112
74 0.028632
75 0.032385
76 0.036408
77 0.040769
78 0.045472
79 0.050616
80 0.056085
81 0.061853
82 0.067936
83 0.074351
84 0.081501
85 0.089179
86 0.097468
87 0.106452
88 0.116226
89 0.126893
90 0.138577
91 0.151192
92 0.165077
93 0.180401
94 0.197349
95 0.206129
96 0.236970
97 0.258059
98 0.280237
99 0.304679
100 0.331630
101 0.361361
102 0.394167
103 0.430366
104 0.471522
105 0.519196
106 0.574950
107 0.640345
108 0.716944
109 0.806309
110 0.999999
Constructed by the Segal Company from
Transactions of
				  the Society of Actuaries
, Volume 23,
Pages 569-622, published by Society of Actuaries, copyright:
				  1971.
1971 GROUP ANNUITY MORTALITY TABLE
(Probabilities are given from age 20 to
				  110)
MALE
20 0.000530
21 0.000522
22 0.000544
23 0.000566
24 0.000591
25 0.000617
26 0.000650
27 0.000684
28 0.000722
29 0.000763
30 0.000809
31 0.000860
32 0.000916
33 0.000978
34 0.001046
35 0.001122
36 0.001204
37 0.001295
38 0.001397
39 0.001509
40 0.001633
41 0.001789
42 0.002000
43 0.002260
44 0.002569
45 0.002922
46 0.003318
47 0.003754
48 0.004228
49 0.004740
50 0.005285
51 0.005867
52 0.006480
53 0.007127
54 0.007806
55 0.008519
56 0.009262
57 0.010039
58 0.010889
59 0.011924
60 0.013119
61 0.014440
62 0.015863
63 0.017413
64 0.017185
65 0.021260
66 0.023643
67 0.026316
68 0.029188
69 0.032435
70 0.036106
71 0.040008
72 0.043827
73 0.047489
74 0.051221
75 0.055293
76 0.060068
77 0.065924
78 0.072595
79 0.079672
80 0.087431
81 0.095445
82 0.103691
83 0.112303
84 0.121116
85 0.130102
86 0.139315
87 0.148714
88 0.158486
89 0.168709
90 0.179452
91 0.170489
92 0.201681
93 0.212986
94 0.226535
95 0.241164
96 0.256204
97 0.272480
98 0.290163
99 0.309125
100 0.329825
101 0.352455
102 0.377220
103 0.406205
104 0.441497
105 0.485182
106 0.539343
107 0.606069
108 0.687444
109 0.785555
110 0.999999
Constructed by the Segal Company from
Transactions of
				  the Society of Actuaries
, Volume 23,
Pages 569-622, published by Society of Actuaries, copyright:
				  1971.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:02 - Term of coverage

Current through Register Vol. 51, page 10, July 15, 2024
The plan covers any employee who retires, dies, or becomes
				  disabled after April 30, 2000, and any benefit payable under the plan became
				  100 percent vested and nonforfeitable on March 16, 2001, the date when the
				  plant was privatized. Any employee on March 16, 2001, is eligible for all
				  benefits payable under the plan the same as if the employee was still an active
				  employee, even if the employee dies subsequent to March 16, 2001, but before
				  the employee retires. Benefits for any person who is not an employee after
				  April 30, 2000, shall be determined under the provisions of the retirement plan
				  that existed at the time of the person's employment with the
				  commission.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
Disability pension, §
											20:16:19:10; Privatization of the
					 plant Effect on benefits, §
											20:16:19:28.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:03 - Participation in benefits

Current through Register Vol. 51, page 10, July 15, 2024
Any employee is eligible to participate in the pension plan.
				  However, no person specifically employed as a temporary employee is eligible to
				  participate in the plan.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:05 - Forfeiture

Current through Register Vol. 51, page 10, July 15, 2024
Any amount that is forfeited by an employee pursuant to any
				  of the provisions of the plan shall remain in the fund.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:06 - Qualifications for normal pension

Current through Register Vol. 51, page 10, July 15, 2024
A retiring employee is entitled to a normal pension if the
				  employee meets all of the following requirements:
(1) Has attained the age of 65;
(2) Has accumulated at least three years of
				credited service; and
(3) Retires
				from active employment with the commission.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:07 - Amount of the normal pension

Current through Register Vol. 51, page 10, July 15, 2024
The normal pension amount for any employee who retires after
				  April 30, 2000, shall be:
(1) 1.625
				percent of final average earnings times all years of credited service prior to
				March 17, 2001; or
(2) 2.325
				percent of final average earnings times all years of credited service prior to
				March 17, 2001, less 80 percent of the primary Social Security benefits that
				would be provided as of March 16, 2001, under federal Social
				Security.
The amount of earnings under the plan may not exceed the
				  limit on compensation allowed under § 401(a)(17) of the Internal Revenue
				  Code.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:08 - Qualifications for early retirement pension

Current through Register Vol. 51, page 10, July 15, 2024
An employee or former employee is entitled to an early
				  retirement pension if the employee or former employee meets all of the
				  following requirements:
(1) Has
				attained the age of 55 but has not yet attained age 65;
(2) Has accumulated at least three years of
				credited service; and
(3) Has
				terminated from active employment with the commission.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
Privatization of the plant -- Effect on benefits, §
											20:16:19:28.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:09 - Amount of the early retirement pension

Current through Register Vol. 51, page 10, July 15, 2024
The amount of the early retirement pension shall be
				  determined by calculating the amount of the normal pension to which the
				  employee would be entitled if the employee were age 65 on the effective date of
				  the employee's early retirement pension times the appropriate percentage or pro
				  rated percentage from the table below:
Years of Credited Service
Age 55
Age 56
Age 57
Age 58
Age 59
Age 60
Age 61
Age 62
Age 63
Age 64
Age 65
Less than
21
70%
73%
76%
79%
82%
85%
88%
91%
94%
97%
100%
21
73%
76%
79%
82%
85%
88%
91%
94%
97%
100%
100%
22
76%
79%
82%
85%
88%
91%
94%
97%
100%
100%
100%
23
79%
82%
85%
88%
91%
94%
97%
100%
100%
100%
100%
24
82%
85%
88%
91%
94%
97%
100%
100%
100%
100%
100%
25
85%
88%
91%
94%
97%
100%
100%
100%
100%
100%
100%
26
88%
91%
94%
97%
100%
100%
100%
100%
100%
100%
100%
27
91%
94%
97%
100%
100%
100%
100%
100%
100%
100%
100%
28
94%
97%
100%
100%
100%
100%
100%
100%
100%
100%
100%
29
97%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
30
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
Privatization of the plant -- Effect on benefits, §
											20:16:19:28.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:10 - Disability pension

Current through Register Vol. 51, page 10, July 15, 2024
An employee is entitled to a disability pension if the
				  employee meets all the following requirements and the employee was disabled
				  prior to March 17, 2001, but after April 30, 2000:
(1) Has become totally disabled on or after
				the date this plan became effective;
(2) Has completed at least three years of
				credited service;
(3) Retires from
				active employment with the commission; and
(4) Has been approved for and receives a
				disability benefit under the federal Social Security Act.
The last day of active employment shall coincide with or
				  follow the date Social Security designates as the first day of total
				  disability. If the last day of active employment was before the date Social
				  Security designates as the first day of total disability, the terminated
				  employee is not eligible for a disability pension.
The board may, at any time, require evidence of continued
				  entitlement to a disability benefit.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:11 - Amount of the disability pension

Current through Register Vol. 51, page 10, July 15, 2024
The disability pension shall be equal to 50 percent of the
				  12 consecutive months out of the last 36 consecutive months prior to the month
				  of disability, increased by 10 percent of those earnings for each eligible
				  child to a maximum of four children. The disability allowance shall be paid
				  only in the form of monthly installments.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:12 - Disability pension payments

Current through Register Vol. 51, page 10, July 15, 2024
Payment of the disability pension shall begin five months
				  after the month in which the disability occurs and shall continue thereafter
				  for as long as the pensioner remains totally disabled. Upon attainment of age
				  65, a pensioner shall have benefits continued under §
									20:16:19:16 regardless of whether
				  or not the pensioner remains totally disabled.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:13 - Deduction of other public benefits from disability pension

Current through Register Vol. 51, page 10, July 15, 2024
The initial Social Security benefit or other public benefit
				  payable to the pensioner shall be deducted from the disability pension provided
				  in §
									20:16:19:11. Any future increase
				  in Social Security benefits for the pensioner does not apply to this section. A
				  disability pension payable on account of children shall be reduced when
				  children become ineligible dependents.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:14 - Reduction of disability pension of earnings in employment

Current through Register Vol. 51, page 10, July 15, 2024
If a person receiving a disability pension is employed or is
				  self-employed in any capacity, the disability pension shall be reduced by 50
				  cents for each dollar earned through such employment. Earned income shall be
				  determined in accordance with the definition as established by § 32(c)(2)
				  of the Internal Revenue Code.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:15 - Reemployment of a disabled pensioner

Current through Register Vol. 51, page 10, July 15, 2024
A pensioner who is no longer entitled to a disability
				  benefit may be entitled to a normal or early pension unaffected by the prior
				  receipt of a disability pension.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:16 - Conversion of disability pension to normal retirement pension at retirement age

Current through Register Vol. 51, page 10, July 15, 2024
When a person who is receiving a disability pension reaches
				  normal retirement age, or at a later date if there are no eligible children,
				  the person's disability pension shall be terminated. Thereafter the person
				  shall receive the pension payable for normal retirement at that age, calculated
				  on the credited service the person would have accrued to age 65 and earnings
				  projected at two percent per calendar year not compounded. The earnings will be
				  increased each January 1 starting with the first January subsequent to the date
				  of disability. In no event, however, may the recomputed pension be greater than
				  the disability pension payable to the employee without eligible children under
				  this provision.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:17 - Family benefits payable on death of employee before retirement

Current through Register Vol. 51, page 10, July 15, 2024
If an employee with three years of credited service dies
				  after April 30, 2000, but prior to the earlier of either the employee's normal
				  retirement age or the employee's actual retirement date or if the employee was
				  receiving a disability pension which started after April 30, 2000, a family
				  benefit shall be paid as follows:
(1)
				A surviving spouse having the care of children shall receive an annual amount,
				payable in monthly installments, equal to 40 percent of the highest annual
				earnings earned by the employee during any one of the last three years of
				credited service;
(2) The custodian
				or conservator of each child shall receive on behalf of each child, to a
				maximum of five children, an annual amount, payable in monthly installments,
				equal to 10 percent of the highest annual earnings earned by the employee
				during any one of the last three years of service. Payments under this
				subdivision may not total more than 50 percent of those earnings;
(3) If there are more than five children, the
				benefits payable to children under subdivision (1) or (2) shall be allocated to
				all children on a share and share alike basis; or
(4) If there are no benefits being paid to
				the spouse under subdivision (1), the spouse upon reaching age 65 shall receive
				a monthly payment based on the pension which would have been payable to the
				deceased employee at the employee's normal retirement age, equal to 60 percent
				of the pension benefit that the deceased employee would have been eligible to
				receive at the time of the employee's death. Any employee on March 16, 2001, is
				eligible for the benefits payable under this section, if the employee has at
				least three years of credited service at death, including any years of
				continuous service with any successor employer. If an employee terminates
				employment with the successor employer for any reason other than death, the
				employee is not eligible for a benefit under this section. However, the spouse
				is eligible for a benefit under §
									20:16:19:22 when the spouse
				reaches age 65 if the employee dies before retirement. The family benefit
				payable under subdivision (1) and (2) shall be based on the employee's
				compensation at plan termination.
All benefits payable under this subdivision shall be
				  increased by application of the improvement factor from §
									20:16:19:39 commencing on the July
				  first that is at least 12 full calendar months following the date of
				  termination of employment with the commission.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:18 - Deduction of Social Security benefits from family benefits

Current through Register Vol. 51, page 10, July 15, 2024
The initial Social Security benefits payable to a
				  beneficiary shall be deducted from the family benefits provided in §
									20:16:19:17. Any future increase
				  in Social Security benefits does not apply to this section.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:19 - Election of additional survivor protection option

Current through Register Vol. 51, page 10, July 15, 2024
Within 90 days after becoming an employee or marrying or
				  attaining age 35 an employee may elect to provide the employee's spouse with
				  additional survivor protection by making an employee contribution of 8/10 of
				  one percent of earnings. This contribution shall start with the first payroll
				  period following the date of the election. It shall continue until the earlier
				  of the employee's retirement, employee's spouse attaining age 65, the death or
				  disability of the employee, the death of the spouse, termination of employment,
				  termination of the marriage, or March 16, 2001. Any funds contributed for the
				  additional survivor protection shall remain with the system and may not be
				  refunded to the employee.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:20 - Amount of additional survivor protection benefits

Current through Register Vol. 51, page 10, July 15, 2024
The additional survivor protection payable under §
									20:16:19:19 shall, on the death of
				  the employee or expiration of benefits that may have been paid pursuant to
				  §
									20:16:19:17 because there is no
				  eligible child, entitle the surviving spouse to an annual amount, payable in
				  monthly installments, equal to 40 percent of the highest annual earnings earned
				  by the employee during any one of the last three years of credited service
				  multiplied by the improvement factor from §
									20:16:19:39 commencing on the July
				  first that is at least 12 full calendar months following the date of
				  termination of employment with the commission. The additional survivor
				  protection benefit continues until the spouse dies, becomes eligible for a
				  benefit under §
									20:16:19:22, or attains age 65,
				  whichever is earlier. If the spouse is not already eligible for a benefit under
				  §
									20:16:19:22, the spouse becomes
				  eligible for a benefit as stated in §
									20:16:19:22 when the spouse
				  attains the age 65.
Any employee who participated in the §
									20:16:19:19 benefit on March 16,
				  2001, is eligible for the benefits payable under this section. If an employee
				  terminates employment with any successor employer for any reason other than
				  death, the employee is not eligible for a benefit under this section. However,
				  the spouse is eligible for a benefit under §
									20:16:19:22 when the spouse
				  reaches age 65 if the employee dies before retirement.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:21 - Normal form of pension benefits

Current through Register Vol. 51, page 10, July 15, 2024
The normal form of pension benefits is a life annuity,
				  payable monthly, beginning on the employee's retirement date and continuing to
				  the last monthly payment for the month in which the pensioner
				  dies.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:22 - Joint and survivor benefit

Current through Register Vol. 51, page 10, July 15, 2024
Upon the death of any pensioner, any employee, or former
				  employee who has reached normal retirement age, the surviving spouse is
				  eligible to receive a normal pension benefit, payable in monthly installments,
				  equal to 60 percent of the pension benefit that the pensioner, employee, or
				  former employee was receiving or was eligible to receive at the time of death.
				  In lieu of the 60 percent pension benefit, an employee or former employee
				  entitled to a normal or early pension benefit may elect to receive a smaller
				  monthly pension during the pensioner's lifetime by electing a 100 percent joint
				  and survivor benefit. After the employee's or former employee's death, the
				  reduced benefit elected by the employee or former employee shall be continued
				  to the employee's or former employee's beneficiary, called a "contingent
				  annuitant," during the latter's lifetime.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
Family benefits payable on death of employee before
					 retirement, §
											20:16:19:17.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:23 - Election of joint and survivor benefit

Current through Register Vol. 51, page 10, July 15, 2024
To be effective, the 100 percent joint and survivor option
				  election shall be made by written request filed with the board not less than 12
				  full calendar months prior to the employee's retirement date. If the election
				  is not filed at least 12 full calendar months prior to the employee's
				  retirement date, the option may not take effect until after 12 full calendar
				  months have elapsed after election, and it shall then be effective for all
				  subsequent months. Until the option takes effect, the benefit shall be payable
				  in the normal form only, as if the option had not been elected. Benefits to be
				  paid may not be retroactively adjudged when the option is put into effect. If
				  the pensioner should die before the 100 percent joint and survivor option takes
				  effect, the beneficiary shall receive 60 percent of the pensioner's benefit
				  under §
									20:16:19:22.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:24 - Effective date of joint and survivor benefit

Current through Register Vol. 51, page 10, July 15, 2024
The joint and survivor option shall take effect only if the
				  pensioner and pensioner's contingent annuitant are both alive on the date when
				  it is to take effect.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:25 - Revocation of joint and survivor benefit

Current through Register Vol. 51, page 10, July 15, 2024
Once elected, the joint and survivor option may not be
				  revoked except under the following conditions:
(1) Revocation must be made in writing in a
				form prescribed by the board and filed with the board before the end of the
				first calendar month for which an optional pension benefit has become payable
				to the pensioner;
(2) Revocation
				may not become effective until 12 months after it has been filed. Until then
				any benefits payable shall be paid in the amount determined under the joint and
				survivor option, without retroactive adjustment of such payments once
				revocation takes effect;
(3) The
				option shall be automatically revoked if the contingent annuitant dies. If the
				contingent annuitant is the employee's spouse and the spouse is divorced from
				the employee before a pension in the optional form becomes effective, the
				employee may continue the option if, within 90 days after such an event, the
				employee chooses another contingent annuitant and communicates it to the board
				in writing; and
(4) The
				designation of a contingent annuitant may not be changed after the first
				pension payment under the option has been made to the pensioner.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:26 - Limitation of joint and survivor benefit option

Current through Register Vol. 51, page 10, July 15, 2024
The joint and survivor option may not be paid if payment
				  would result in a monthly pension of less than $20 to the pensioner or the
				  contingent annuitant.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:27 - Credited service

Current through Register Vol. 51, page 10, July 15, 2024
Credited service under the plan means the last period of
				  continuous employment as a full-time employee with the commission prior to
				  termination of employment for the purpose of retirement. However, if a
				  temporary employee moves from temporary to a full-time status without a break
				  in service, the employee's credited service shall include the period of
				  temporary employment.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:28 - Privatization of the plant - Effect on benefits

Current through Register Vol. 51, page 10, July 15, 2024
Any employee, former employee, pensioner, or any other
				  person affected by the privatization of the plant is entitled to the benefits
				  accrued as of the effective date of the privatization, March 16, 2001. For the
				  purposes of determining eligibility for vesting of service credits pursuant to
				  §
									20:16:19:30 and for the purposes
				  of determining qualifications for and amount of early retirement pursuant to
				  §§
									20:16:19:08 and
				  20:16:19:09, years of continuous
				  service with the successor employer shall be counted.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:29 - Interruption of continuous employment

Current through Register Vol. 51, page 10, July 15, 2024
If continuous employment is interrupted for any cause,
				  except as provided in the plan, any credited service accrued for periods of
				  employment prior to the interruption may not be considered, and the employee
				  shall be treated as a new employee in determining credited service. However,
				  continuous employment is not considered interrupted by leaves of absence from
				  regular employment authorized by the commission for:
(1) Disability, except in connection with
				retirement;
(2) Service in the
				armed forces of the United States, if the employee returns to employment with
				the commission within the period of time prescribed by law for the reemployment
				of veterans; or
(3) Not more than
				12 months for any other cause or reason satisfactory to the commission.
No service credit may be granted during any period of
				  authorized leave of absence. Subsections (1) and (3) shall be considered an
				  interruption of service when it applies to a successor employer after March 16,
				  2001.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS › Chapter 20:16:19 - Retirement plan 6 › Section 20:16:19:30 - Vesting of service credits

Current through Register Vol. 51, page 10, July 15, 2024
An employee who terminates employment for any reason other
				  than death or early or normal retirement is entitled to a deferred pension if
				  the employee has accumulated at least three years of credited service. The
				  deferred pension shall start on the normal retirement date, or, at the request
				  of the employee, as early as age 55 in accordance with §§
									20:16:19:08 and
				  20:16:19:09. The deferred pension
				  amount shall be calculated using the benefit formula in effect at the time of
				  the employee's termination with the commission and the years of continuous
				  employment to the date of termination. This benefit shall be increased pursuant
				  to §
									20:16:19:39. The accrued benefits
				  of each participant in the plan immediately became 100 percent vested and
				  nonforfeitable on March 16, 2001. If an employee becomes a participant in the
				  retirement plan within the three-year period preceding the employee's
				  65th birthday, the participant's normal retirement
				  date is the first day of the calendar month coincident with or immediately
				  following the participant's third anniversary of the plan participation. If a
				  participant's employment with the commission is terminated at or after
				  attainment of the participant's normal retirement date, the participant is
				  vested in and entitled to receive the participant's accrued
				  benefit.
General Authority:
SDCL
					 3-12C-1647.
Law Implemented:
SDCL
					 3-12C-1643,
					 3-12C-1644.
Privatization of the plant -- Effect on benefits, §
											20:16:19:28.