S.D. Admin. R. 62:03:07:03
Upon initially becoming an automatic enrollee, twenty-five dollars per month shall be deferred to the plan from the compensation of an automatic enrollee unless the automatic enrollee elects not to participate in the plan within 90 days after his or her first pay date and gives notice of that election to the system, or unless the automatic enrollee elects to defer an increased amount. The deferred compensation and associated gains or losses of an automatic enrollee who elects not to participate shall be refunded to the automatic enrollee within 30 days of receipt of the final contribution by the plan. An automatic enrollee who elects not to participate, however, is not barred from future voluntary participation in the plan.
S.D. Admin. R. 62:03:07:03
General Authority: SDCL 3-13-54, 3-13-56.
Law Implemented: SDCL 3-13-56(3), (4), (5).