74th Legislative Session -- 1999

Committee: Senate Retirement Laws

                                            P - Present
                                            E - Excused
                                            A - Absent

Roll Call
P      Albers, Chair
P      Rounds, Vice-Chair
P      Brown (Arnold)
E      Lawler
P      Olson


OTHERS PRESENT: See Original Minutes

The meeting was called to order by Chair Albers

MOTION:      TO APPROVE THE MINUTES OF Januaary 28

Moved by:      Senator Brown (Arnold)
Second by:      Senator Olson
Action:      Prevailed by voice vote.

          SB 142:   revise the methods for purchase of prior service credit for the South Dakota Retirement System.

Proponents:      Al Asher, SDRS, Comments only, (Handout a)
Opponents:      Bob Sahr, Counsel Bureau of Personnel
Presented by:      Senator Paul Symens, Sponsor

MOTION:      AMEND SB 142

p-142

     On page 2 , overstrike lines 5 to 7 of the printed bill , inclusive , and insert " However, any current contributing member who wishes to purchase service as an elective officer, shall make all contributions personally based on the higher of the member's current compensation, or the member's final compensation calculated as if the member had retired on the date of election, at seventy-five percent of twice the member rate, for each year of service for which the member wishes to receive credit. "

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Moved by:      Senator Olson
Second by:      Senator Rounds
Action:      Prevailed by voice vote.

MOTION:      DEFER SB 142 UNTIL THE 41ST LEGISLATIVE DAY

Moved by:      Senator Rounds
Second by:      Senator Brown (Arnold)
Action:      Prevailed by roll call vote.   (3-1-1-0)

Voting yes:      Albers, Rounds, Brown (Arnold)

Voting no:      Olson

Excused:      Lawler

          SCR 6:   Instructing the Board of Trustees of the South Dakota Retirement System to study the possibility of raising rates of contribution.

Proponents:      Dave Hanson, Bd of Regents (Handout b)
          Jay Ruckdaschel, AARP
          Ken Kelius, State Employees Organization
          Bob Steven, SDEA
Presented by:      Senator Rounds, Sponsor

MOTION:      ADOPT RESOLUTION SCR6

Moved by:      Senator Olson
Second by:      Senator Rounds
Action:      Prevailed by roll call vote.   (4-0-1-0)

Voting yes:      Albers, Rounds, Brown (Arnold), Olson

Excused:      Lawler

MOTION:      ADJOURN

Moved by:      Senator Olson
Second by:      Senator Rounds
Action:      Prevailed by voice vote.

Margaret Nickels

Committee Secretary