ARSD Article 62:03 — DEFERRED COMPENSATION PLAN

article-62-03ARSD Article 62:03Regulation

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SOUTH DAKOTA RETIREMENT SYSTEM SOUTH DAKOTA RETIREMENT SYSTEM

Chapter 62:03:01

ARSD 62:03:01:01 Definitions, Repealed

    62:03:01:01.  Definitions. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 33 SDR 212, effective June 4, 2007; 35 SDR 82, effective October 22, 2008; 39 SDR 227, effective July 1, 2013; 41 SDR 219, effective July 1, 2015; SL 2016, ch 31, § 88, effective July 1, 2016; 45 SDR 45, effective October 8, 2018; 45 SDR 142, effective July 1, 2019; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:01:02 Designated Roth contributions treated as deferrals, Repealed

    62:03:01:02.  Designated Roth contributions treated as deferrals. Repealed.

    Source: 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

Chapter 62:03:02

ARSD 62:03:02:01 Participation by political subdivisions, Repealed

    62:03:02:01.  Participation by political subdivisions. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 24 SDR 160, effective May 24, 1998; 45 SDR 142, effective July 1, 2019; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:02 Participation by employees, Repealed

    62:03:02:02.  Participation by employees. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:03 Enrollment of participants, Repealed

    62:03:02:03.  Enrollment of participants. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; SL 2016, ch 31, § 89, effective July 1, 2016; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:04 Participation agreement, Repealed

    62:03:02:04.  Participation agreement. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; SL 2016, ch 31, § 90, effective July 1, 2016; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:05 Modification of enrollment, Repealed

    62:03:02:05.  Modification of enrollment. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:05.01 Employer contributions -- System contributions -- Vesting, Repealed

    62:03:02:05.01.  Employer contributions -- System contributions -- Vesting. Repealed.

    Source: 35 SDR 82, effective October 22, 2008; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:06 Revocation of enrollment, Repealed

    62:03:02:06.  Revocation of enrollment. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:07 Designation of beneficiary – Distribution of benefits, Repealed

    62:03:02:07.  Designation of beneficiary – Distribution of benefits. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 33 SDR 212, effective June 4, 2007; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:08 Deferred compensation plans only as supplemental retirement plans, Repealed

    62:03:02:08.  Deferred compensation plans only as supplemental retirement plans. Repealed.

    Source: 33 SDR 212, effective June 4, 2007; 45 SDR 142, effective July 1, 2019; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:02:09 Participation restrictions on or after an unforeseeable emergency distribution, Repealed

    62:03:02:09.  Participation restrictions on or after an unforeseeable emergency distribution. Repealed.

    Source: 36 SDR 21, effective August 17, 2009; 52 SDR 10, effective August 5, 2025.

Chapter 62:03:03

ARSD 62:03:03:01 Minimum deferral, Repealed

    62:03:03:01.  Minimum deferral. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:03:02 Maximum deferral, Repealed

    62:03:03:02.  Maximum deferral. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:03:02.01 Roth contributions allowed -- Roth and other deferrals permitted in same year -- Limits, Repealed

    62:03:03:02.01.  Roth contributions allowed -- Roth and other deferrals permitted in same year -- Limits. Repealed.

    Source: 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:03:03 Catch up, Repealed

    62:03:03:03.  Catch up. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:03:03.01 Alternative catch up, Repealed

    62:03:03:03.01.  Alternative catch up. Repealed.

    Source: 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

    

ARSD 62:03:03:03.02 Mandated choice between catch up provisions, Repealed

    62:03:03:03.02.  Mandated choice between catch up provisions. Repealed.

    Source: 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:03:04 Repealed

          62:03:03:04.  Other limitations.Repealed.

          Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; repealed, 28 SDR 111, effective February 14, 2002.

Chapter 62:03:04

ARSD 62:03:04:01 Repealed

          62:03:04:01.  Selection of investments.Repealed.

          Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; repealed, 28 SDR 111, effective February 14, 2002.

ARSD 62:03:04:02 Ownership of deferrals and investments -- Assets held in trust -- Time limit on transfers, Repealed

    62:03:04:02.  Ownership of deferrals and investments – Assets held in trust -- Time limit on transfers. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:04:03 Election of investments by participants, Repealed

    62:03:04:03.  Election of investments by participants. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:04:04 Transfer of funds, Repealed

    62:03:04:04.  Transfer of funds. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 14 SDR 95, effective January 10, 1988; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:04:05 Establishment of accounts, Repealed

    62:03:04:05.  Establishment of accounts. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:04:05.01 Additional recordkeeping requirements -- Designated Roth accounts, Repealed

    62:03:04:05.01.  Additional recordkeeping requirements -- Designated Roth accounts. Repealed.

    Source: 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:04:06 Allocation of investment return -- Accounting date, Repealed

    62:03:04:06.  Allocation of investment return – Accounting date. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:04:07 Accounting dates and valuation, Repealed

    62:03:04:07.  Accounting dates and valuation. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:04:08 Participant statements, Repealed

    62:03:04:08.  Participant statements. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

Chapter 62:03:05

ARSD 62:03:05:01 Conditions for distribution, Repealed

    62:03:05:01.  Conditions for distribution. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 28 SDR 111, effective February 14, 2002; 33 SDR 212, effective June 4, 2007; 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:05:02 Selection of normal retirement date -- Amendment, Repealed

    62:03:05:02.  Selection of normal retirement date – Amendment. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 45 SDR 142, effective July 1, 2019; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:05:03 Severance from employment, Repealed

    62:03:05:03.  Severance from employment. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:05:04 Beginning of distribution, Repealed

    62:03:05:04.  Beginning of distribution. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 47 SDR 138, effective July 1, 2021; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:05:05 Form of distribution -- Period of distribution, Repealed

    62:03:05:05. Form of distribution – Period of distribution. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:05:05.01 Distribution directed by participant, Repealed

    62:03:05:05.01.  Distribution directed by participant. Repealed.

    Source: 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:05:06 Unforeseeable emergency, Repealed

    62:03:05:06.  Unforeseeable emergency. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; 33 SDR 212, effective June 4, 2007; 34 SDR 297, effective June 2, 2008; SL 2016, ch 31, § 91, effective July 1, 2016; 45 SDR 142, effective July 1, 2019; 47 SDR 138, effective July 1, 2021; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:05:07 In-service distributions of small amounts -- Calculation -- Handling of certain involuntary distributions, Repealed

    62:03:05:07.  In-service distributions of small amounts -- Calculation -- Handling of certain involuntary distributions. Repealed.

    Source: 24 SDR 160, effective May 24, 1998; 28 SDR 111, effective February 14, 2002; SL 2016, ch 31, § 92, effective July 1, 2016; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:05:08 Distributions deemed reasonable and made in good faith under federal law, Repealed

    62:03:05:08.  Distributions deemed reasonable and made in good faith under federal law. Repealed.

    Source: 37 SDR 214, effective May 30, 2011; 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

Chapter 62:03:06

ARSD 62:03:06:01 Conflict of interest, Repealed

    62:03:06:01.  Conflict of interest. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 28 SDR 111, effective February 14, 2002; 52 10, effective August 5, 2025.

ARSD 62:03:06:02 Assignment, Repealed

    62:03:06:02.  Assignment. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 33 SDR 212, effective June 4, 2007; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:06:03 Trustee-to-trustee transfer and rollover into account, Repealed

    62:03:06:03.  Trustee-to-trustee transfer and rollover into account. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 28 SDR 111, effective February 14, 2002; 34 SDR 297, effective June 2, 2008; 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:06:03.01 Trustee-to-trustee transfer from account, Repealed

    62:03:06:03.01.  Trustee-to-trustee transfer from account. Repealed.

    Source: 28 SDR 111, effective February 14, 2002; 52 SDR 10, effective August 5, 2025.

    

ARSD 62:03:06:03.02 Rollover from account, Repealed

    62:03:06:03.02.  Rollover from account. Repealed.

    Source: 28 SDR 111, effective February 14, 2002; 33 SDR 212, effective June 4, 2007; 34 SDR 297, effective June 2, 2008; 35 SDR 82, effective October 22, 2008; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:06:03.03 In-plan Roth conversion, Repealed

    62:03:06:03.03.  In-plan Roth conversion. Repealed.

    Source: 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:06:04 Operation of plan for benefit of participants -- Assets held in trust, Repealed

    62:03:06:04.  Operation of plan for benefit of participants – Assets held in trust. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:06:05 Repealed

          62:03:06:05.  Transfer of accounts upon termination of vendor contract.Repealed.

          Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; repealed, 28 SDR 111, effective February 14, 2002.

ARSD 62:03:06:06 Filing of required forms, Repealed

    62:03:06:06.  Filing of required forms. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 15 SDR 100, effective January 8, 1989; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:06:07 Correction of errors -- Excess deferrals, Repealed

    62:03:06:07.  Correction of errors -- Excess deferrals. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 39 SDR 227, effective July 1, 2013; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:06:08 Correction of errors -- Payroll error, Repealed

    62:03:06:08.  Correction of errors -- Payroll error. Repealed.

    Source: 14 SDR 57, effective October 18, 1987; 24 SDR 160, effective May 24, 1998; 52 SDR 10, effective August 5, 2025.

Chapter 62:03:07

ARSD 62:03:07:01 Automatic enrollment units -- Automatic escalation -- Decision -- Rescission of unit's status -- Automatic enrollee's status, Repealed

    62:03:07:01.  Automatic enrollment units -- Automatic escalation -- Decision -- Rescission of unit's status -- Automatic enrollee's status. Repealed.

    Source: 35 SDR 82, effective October 22, 2008; 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:01.01 Automatic escalation for participating employers that became automatic enrollment units prior to July 1, 2015, Repealed

    62:03:07:01.01.  Automatic escalation for participating employers that became automatic enrollment units prior to July 1, 2015. Repealed.

    Source: 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:01.02 Start of automatic escalation at election of unit -- Notice required, Repealed

    62:03:07:01.02.  Start of automatic escalation at election of unit -- Notice required. Repealed.

    Source: 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:02 Automatic enrollment, Repealed

    62:03:07:02.  Automatic enrollment. Repealed.

    Source: 35 SDR 82, effective October 22, 2008; 41 SDR 219, effective July 1, 2015; SL 2018, ch 34, § 2, effective July 1, 2018; SL 2019, ch 23, § 12, effective July 1, 2019; 45 SDR 142, effective July 1, 2019; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:02.01 Members employed by participating employers other than the state before automatic enrollment established, Repealed

    62:03:07:02.01.  Members employed by participating employers other than the state before automatic enrollment established. Repealed.

    Source: SL 2018, ch 34, § 3, effective July 1, 2018; SL 2019, ch 23, § 13, effective July 1, 2019; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:03 Amount of initial deferral -- Election to opt out -- Time limit -- Refund -- Future participation, Repealed

    62:03:07:03.  Amount of initial deferral -- Election to opt out -- Time limit -- Refund -- Future participation. Repealed.

    Source: 35 SDR 82, effective October 22, 2008; 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:03.01 Automatic escalation -- No escalation in first year of hire, Repealed

    62:03:07:03.01.  Automatic escalation -- No escalation in first year of hire. Repealed.

    Source: 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:04 Automatic enrollment deemed contract -- Exceptions, Repealed

    62:03:07:04.  Automatic enrollment deemed contract -- Exceptions. Repealed.

    Source: 35 SDR 82, effective October 22, 2008; 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:05 Qualified default investment alternative -- Secondary alternative -- Liability, Repealed

    62:03:07:05.  Qualified default investment alternative -- Secondary alternative -- Liability. Repealed.

    Source: 35 SDR 82, effective October 22, 2008; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:06 Notices required for automatic enrollment, Repealed

    62:03:07:06.  Notices required for automatic enrollment. Repealed.

    Source: 35 SDR 82, effective October 22, 2008; 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:06.01 Notice of automatic escalation required -- Election to opt out -- Automatic enrollee status, Repealed

    62:03:07:06.01.  Notice of automatic escalation required -- Election to opt out -- Automatic enrollee status. Repealed.

    Source: 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

ARSD 62:03:07:07 Advance authorization not required -- Exception to other laws, Repealed

    62:03:07:07.  Advance authorization not required -- Exception to other laws. Repealed.

    Source: 35 SDR 82, effective October 22, 2008; 41 SDR 219, effective July 1, 2015; 52 SDR 10, effective August 5, 2025.

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