S.D. Admin. R. 62:03:02:08

Current through Register Vol. 51, page 51, October 21, 2024

Section 62:03:02:08 - Deferred compensation plans only as supplemental retirement plans

No political subdivision may maintain as its principal retirement plan a deferred compensation plan unless the deferred compensation plan was established prior to 1974. Any deferred compensation plan established pursuant to SDCL chapter 3-13 may only be supplemental or secondary to the political subdivision's primary plan.

S.D. Admin. R. 62:03:02:08

33 SDR 212, effective 6/4/2007; 45 SDR 142, effective 7/1/2019

General Authority: SDCL 3-12C-211.

Law Implemented: SDCL 3-12C-304, 3-12C-305, 3-13-49.1.