Roll Call
P
Rounds, Chair
P
Albers, Vice-Chair
P
Brown (Arnold)
P
Hunhoff
P
Lawler
OTHERS PRESENT: See Original Minutes
The meeting was called to order by Senator Rounds
MOTION:
Adopt permanent rules.
Moved by:
Senator Lawler
Second by:
Senator Hunhoff
Action:
Prevailed by voice vote.
Al Asher, Administrator of the SD Retirement System introduced his trustees and staff of
his department. Paul Schrader, Consultant, Denver CO. , With Buck Consultants discussed
the contents of the 1996 Actuarial Valuation Overview and presented copies of the overview
to committee members.
SB 31:
to revise certain provisions regarding the deferred compensation fund for
public employees and to revise certain rule-making authority regarding the
maximum annual benefits paid by the South Dakota Retirement System.
Proponents:
Al Asher, Administrator of SD Retirement System
MOTION:
DO PASS SB 31
Moved by:
Senator Lawler
Second by:
Senator Hunhoff
Action:
Prevailed by roll call vote.
(5-0-0-0)
Voting yes:
Rounds, Albers, Brown (Arnold), Hunhoff, Lawler
MOTION:
PLACE SB 31 ON CONSENT
Moved by:
Senator Lawler
Second by:
Senator Brown (Arnold)
Action:
Prevailed by voice vote.
SB 32:
to grant credited service to certain members of the South Dakota Retirement
System.
Proponents:
Al Asher, Admintrator of SD Retirement System
Paul Schrader, Consultant, Buck Consultants, Denver, CO.
Charles Schad, AARP
Wyland Borth, SD Retired Teachers
Opponents:
None
MOTION:
AMEND SB 32
On page
3
,
after line
2
, insert:
"
Section 3. That chapter 3-12 be amended by adding thereto a NEW SECTION to read as follows:
Any member who, pursuant to the provisions of
§
3-12-83, has purchased a portion or all of
the member's noncontributory service described in subsection (h) of subdivision (24) of
§
3-12-47
is entitled to a refund of such purchase cost.
"
Moved by:
Senator Lawler
Second by:
Senator Albers
Action:
Prevailed by voice vote.
MOTION:
DO PASS SB 32 AS AMENDED
Moved by:
Senator Brown (Arnold)
Second by:
Senator Hunhoff
Action:
Prevailed by roll call vote.
(5-0-0-0)
Voting yes:
Rounds, Albers, Brown (Arnold), Hunhoff, Lawler
SB 33:
to allow class B members of the South Dakota Retirement System to
purchase certain public service as class B service.
Proponents:
Al Asher, Administrator of SD Retirement System
Paul Schrader, Consultant with Buck Consultants
Opponents:
None
MOTION:
DO PASS SB 33
Moved by:
Senator Hunhoff
Second by:
Senator Lawler
Action:
Prevailed by roll call vote.
(5-0-0-0)
Voting yes:
Rounds, Albers, Brown (Arnold), Hunhoff, Lawler
SB 34:
to increase the retirement allowance for certain credited service under the
South Dakota Retirement System.
Proponents:
Al Asher, Adm SD Retirement
Paul Schrader, Consultant of Buck Consultants
Wyland Borth, Retired Teachers
Charles Schad, AARP
Jill Aadland, State Employees Assn
Lona Lewis, SDEA
Christie Johnson, SASD
Opponents:
None
MOTION:
DO PASS SB 34
Moved by:
Senator Lawler
Second by:
Senator Brown (Arnold)
Action:
Prevailed by roll call vote.
(5-0-0-0)
Voting yes:
Rounds, Albers, Brown (Arnold), Lawler, Hunhoff
SB 35:
to remove South Dakota Retirement System additional survivor protection
payments as deductions against lump-sum payments.
Proponents:
Al Asher, Adm of SD Retirement
Paul Schrader, Consultant with Buck Consultants
Opponents:
None
MOTION:
DO PASS SB 35
Moved by:
Senator Hunhoff
Second by:
Senator Albers
Action:
Prevailed by roll call vote.
(5-0-0-0)
Voting yes:
Rounds, Albers, Brown (Arnold), Hunhoff, Lawler
SB 36:
to revise the method of calculating retirement benefits for South Dakota
Retirement System members whose benefits are suspended upon reemployment
after retirement.
Proponents:
Al Asher, Adm of SD Retirement
Paul Schrader, Consultant with Buck Consultants
Opponents:
None
MOTION:
DO PASS SB 36
Moved by:
Senator Lawler
Second by:
Senator Brown (Arnold)
Action:
Prevailed by roll call vote.
(5-0-0-0)
Voting yes:
Rounds, Albers, Brown (Arnold), Hunhoff, Lawler
MOTION:
ADJOURN
Moved by:
Senator Brown (Arnold)
Second by:
Senator Lawler
Action:
Prevailed by voice vote.
Margaret Nickels
_________________________________
Committee Secretary
Michael M. Rounds, Chair
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