S.D. Admin. R. 62:03:07:06.01

Current through Register Vol. 51, page 67, December 16, 2024
Section 62:03:07:06.01 - Notice of automatic escalation required - Election to opt out - Automatic enrollee status

The system shall provide no less than 60 days' notice of each annual automatic escalation pursuant to § 62:03:07:03.01. An enrollee may elect not to participate in automatic escalation or may elect to defer an additional amount that is less than or greater than ten dollars. The enrollee shall annually provide notice of any such election no later than December 15 for an enrollee of an automatic enrollment unit that elected a January start or June 15 for an enrollee of an automatic enrollment unit that elected a July start. If the enrollee elects not to participate or to defer a lesser amount after the applicable date provided in this section, the system may not refund the automatic escalation amount to the enrollee. If an enrollee elects not to participate in automatic escalation or elects to defer an additional amount that is less than or greater than ten dollars, the status of the automatic enrollee pursuant to § 62:03:07:02 is not affected.

S.D. Admin. R. 62:03:07:06.01

41 SDR 219, effective 7/1/2015.

General Authority: SDCL 3-13-54, 3-13-56.

Law Implemented: SDCL 3-13-56(10).