S.D. Codified Laws § 3-12C-304

Current through the 2024 Legislative Session

Section 3-12C-304 - Continuation of previously established retirement plan-Vote of employees required to participate in consolidated system

Any political subdivision or public corporation may operate a retirement plan created prior to July 1, 1974, unless the retirement plan of the political subdivision or public corporation is accepted in the system created by this chapter. Notwithstanding the provisions of this section and § 3-12C-306, no political subdivision or public corporation with a retirement plan may be accepted as a participating unit unless two-thirds of the members of the retirement plan vote to become members of the system created by this chapter.

SDCL 3-12C-304

SL 1974, ch 35, § 23; SDCL § 3-12-65; SL 2019, ch 22, §1; SL 2020, ch 12, § 6.

Amended by S.L. 2020, ch. 12,s. 6, eff. 7/1/2020.