77th Legislative Session _ 2002

Committee: House Retirement Laws
Thursday, January 24, 2002

                                            P - Present
                                            E - Excused
                                            A - Absent

Roll Call
P    Olson (Mel)
P    Kooistra
E    Davis
P    Sebert, Vice-Chair
P    Michels, Chair

OTHERS PRESENT: See Original Minutes

The meeting was called to order by Re. Matthew Michels, Chair.

MOTION:     APPROVE THE PERMANENT RULES.

Moved by:    Kooistra
Second by:    Sebert
Action:    Prevailed by voice vote.

          HB 1032: revise certain retirement system provisions to comply with the Economic Growth and Tax Relief Reconciliation Act of 2001, to authorize members to acquire credited service by transferring certain retirement funds, to protect the confidentiality of member information, and to declare an emergency.

Presented By:    Al Asher, Pierre, Administrator of SDRS
Proponents:    None
Opponents:    None

MOTION:     AMEND HB 1032

1032ma
     On page 2, line 1 of the printed bill, delete " 2001 " and insert " 2002 ".

Moved by:    Olson (Mel)
Second by:    Kooistra
Action:    Prevailed by voice vote.

 MOTION:     DO PASS HB 1032 AS AMENDED

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

Voting Yes:    Olson (Mel), Kooistra, Sebert, Michels

Excused:    Davis

          HB 1033: provide benefit improvements for certain members of the South Dakota Retirement System, to revise the provisions for the purchase of uncredited service by members of the system, and to provide for increased contributions for certain members.

Presented By:    Al Asher, Pierre, Administrator of SDRS
Proponents:    Paul Schrader, Denver, BICK (SDRS)
        Dean Hyde, Pierre, AARP
        Elaine Roberts, Pierre, SDEA
        Ken Melius, Pierre, SDSEO
        Paul Aylward, Huron, AFSCME
Comment By: John Storsteen, Pierre, SDRS
Opponents:    None

MOTION:     DEFER HB 1033 TO THE 36TH LEGISLATIVE DAY

Moved by:    Kooistra
Action:    Died for a lack of a second

MOTION:     SUBSTITUTE MOTION DO PASS HB 1033

Moved by:    Olson (Mel)
Second by:    Sebert
Action:    Prevailed by roll call vote.(3-1-1-0)

Voting Yes:    Olson (Mel), Sebert, Michels

Voting No:    Kooistra

Excused:    Davis

         HB 1244: allow the assets of the South Dakota Retirement System to be invested in venture capital.

Presented By:    Rep. Broderick, Dist. 16
Proponents:    Dennis Anderson, Wall, Genesis Equity Fund (Handout “A”, “B”, “C”)
        Rep. Adelstein, Dist 32
        Mel Ustad, Vermillion, SBHTI
        Bob DeMersseman, Rapid City, RC Economic Dev.
        Randy Morris, Rapid City, WRFEC
        Jim Mirehouse, Rapid City, Genesis Equity Fund
        Curt Johnson, Pierre, Investment Council
Opponents:    Dean Hyde, Pierre, AARP
        Homer Harding, Pierre, self
        Ken Melius, Pierre, SDSEO

MOTION:     DEFER HB 1244 TO THE 36TH LEGISLATIVE DAY

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

Voting Yes:    Olson (Mel), Kooistra, Sebert, Michels

Excused:    Davis

Gavel passed to Rep. Sebert

         HB 1065: expand the South Dakota Retirement System board membership.

Presented By:    Rep. Michels, Dist. 18 (Handout “A”)
Proponents:    Dean Hyde, Pierre, AARP
        Elaine Roberts, Pierre, SDEA
Opponents:    Elmer Brinkman,Watertown, SDRS

MOTION:     DO PASS HB 1065

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


Voting Yes:    Olson (Mel), Kooistra, Sebert, Michels

Excused:    Davis

Gavel returned to Chair Michels..
          HB 1093: revise certain reemployment requirements in the South Dakota Retirement System.

Presented By:    Rep. Kooistra, Dist. 9 (Handout “A”)
Proponents:    Bob Stevens, Pierre, SDEA
         Dean Hyde, Pierre, AARP
        James Hansen, Pierre, self
Opponents:    Christie Johnson, Pierre, SASD
        Ken Melius, Pierre, SDSEO
        Al Asher, Pierre, Administrator, SDRS
        Paul Schrader, Denver, SDRS
        Elmer Brinkman, Watertown, SDRS

MOTION:     AMEND HB 1093

1093mb
     On page 1, after line 8 of the printed bill, insert:

"

     This section shall not apply to any member who is reemployed as a permanent full-time employee or is party to an employment contract as a permanent full-time employee on or prior to the effective date of this Act.".

Moved by:    Kooistra
Second by:    Olson (Mel)
Action:    Prevailed by voice vote.

 MOTION:     DO PASS HB 1093 AS AMENDED

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

Voting Yes:    Olson (Mel), Kooistra, Sebert, Michels

Excused:    Davis

          HB 1178: establish a defined contribution account for members of the South Dakota Retirement System which may be funded by a transfer of amounts of sick leave paid upon termination of employment, a transfer of the proceeds of individual retirement accounts, and dividends based on favorable experience of the system.

Presented By:    Rep. Jeff Monroe, Pierre, Dist. 24
Proponents:    Dean Hyde, Pierre, AARP
Opponents:    Al Asher, Pierre, Administrator, SDRS
        Paul Schrader, Denver, SDRS

MOTION:     DEFER HB 1178 TO THE 36TH LEGISLATIVE DAY

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

Voting Yes:    Olson (Mel), Kooistra, Sebert, Michels

Excused:    Davis

MOTION:     ADJOURN

Moved by:    Sebert
Second by:    Olson (Mel)
Action:    Prevailed by voice vote.

Beverly Jennings                         ____________________________
Committee Secretary

Matthew Michels, Chair

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