92^nd Legislative Session _ 2017

Committee: House Retirement Laws

                                            P - Present
                                            E - Excused
                                            A - Absent

Roll Call
P    Ahlers
P    McCleerey
P    Rounds
P    Haggar, Vice-Chair
P    Tieszen, Chair

OTHERS PRESENT: See Original Minutes

The meeting was called to order by Representative Tieszen, Chairman.

Joint Informational Briefing of House and Senate Retirement Law Committees:

Supreme Court Justice, Steve Zinter, introduced members of the board of trustees for South Dakota Retirement System that were present to include James Hanson, Laurie Gustafson, Louise Loban,
and Matt Clark.

The Annual Report of the Funded Status of the South Dakota Retirement System (Handout #1)
and the Transmittal Letter (Handout #2) were addressed by the following personnel:
Executive Director of South Dakota Retirement System, Robert Wylie
Matthew Clark of South Dakota Investment Council and South Dakota Retirement System
Doug Fiddler, South Dakota Retirement System.

The House Retirement Laws Committee followed the briefing with hearing of the Bills


    HB 1016: revise the methodology for calculating the cost of living adjustment for South Dakota Retirement System benefits, to revise reporting conditions, and to provide uniform terminology.

Presented by:    Robert Wylie, South Dakota Retirement System (Handouts: #3)

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Proponents:    Doug Fiddler, South Dakota Retirement System
        Jacque Storm, South Dakota Retirement System
        Eric Ollila, South Dakota State Employees Organization

MOTION:    DO PASS HB 1016

Moved by:    Rounds
Second by:    Ahlers
Action:    Prevailed by roll call vote. (5-0-0-0)

Voting Yes:    Ahlers, McCleerey, Rounds, Haggar, Tieszen

    HB 1017: revise the definition of compensation for purposes of the South Dakota Retirement System, to provide a penalty for falsely reporting compensation, and to update references to the Internal Revenue Code.

Presented by:    Robert Wylie, South Dakota Retirement System
Proponents:    Doug Fiddler, South Dakota Retirement System
        Jacque Storm, South Dakota Retirement System

MOTION:    DO PASS HB 1017

Moved by:    Haggar
Second by:    McCleerey
Action:    Prevailed by roll call vote. (5-0-0-0)

Voting Yes:    Ahlers, McCleerey, Rounds, Haggar, Tieszen

    HB 1018: revise the computation of final average compensation for benefits relating to the South Dakota Retirement System.

Presented by:    Robert Wylie, South Dakota Retirement System
Proponents:    Doug Fiddler, South Dakota Retirement System
        Jacque Storm, South Dakota Retirement System

MOTION:    DO PASS HB 1018

Moved by:    Haggar
Second by:    Ahlers
Action:    Prevailed by roll call vote. (5-0-0-0)

Voting Yes:    Ahlers, McCleerey, Rounds, Haggar, Tieszen

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    HB 1019: revise certain provisions relating to the salary of the executive director of the South Dakota Retirement System.

Presented by:    Jacque Storm, South Dakota Retirement System
Proponents:    Doug Fiddler, South Dakota Retirement System

MOTION:    DO PASS HB 1019

Moved by:    Rounds
Second by:    McCleerey
Action:    Prevailed by roll call vote. (5-0-0-0)

Voting Yes:    Ahlers, McCleerey, Rounds, Haggar, Tieszen

MOTION:    PLACE HB 1019 ON CONSENT CALENDAR

Moved by:    Rounds
Second by:    Haggar
Action:    Prevailed by voice vote.

MOTION:    ADJOURN

Moved by:    Haggar
Second by:    McCleerey
Action:    Prevailed by voice vote.

Pam Kean

Committee Secretary

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