S.D. Admin. R. 62:03:06:08

Current through Register Vol. 51, page 67, December 16, 2024

Section 62:03:06:08 - Correction of errors - Payroll error

If, due to a payroll error, a participant's deferral is deposited in an investment alternative other than the one selected by the participant, the third-party administrator may correct the error by transferring the participant's deferral to the proper investment alternative, subject to any limitations which may be imposed by the vendor. No retroactive adjustment may be made.

S.D. Admin. R. 62:03:06:08

14 SDR 57, effective 10/18/1987; 24 SDR 160, effective 5/24/1998.

General Authority: SDCL 3-13-54.

Law Implemented: SDCL 3-13-54.