State of South Dakota
LEGISLATIVE ASSEMBLY, 2012
SENATE BILL NO. 29
Introduced by: The Committee on Retirement Laws at the request of the South Dakota
FOR AN ACT ENTITLED, An Act to authorize the establishment of a designated Roth
contribution program within the state deferred compensation plan.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 3-13 be amended by adding thereto a NEW SECTION to read as
The board may establish a designated Roth contribution program within the deferred
compensation plan. For the purposes of this section, a designated Roth contribution is an
elective salary deferral that is:
(1) Designated irrevocably by the participant at the time of the deferred election as a
designated Roth contribution that is being made in lieu of all or a portion of the
pre-tax elective deferrals the participant is otherwise eligible to make under the plan;
(2) Treated by the employer as includable in the participant's income at the time the
participant would have received that amount in compensation if the participant had
not made a deferred election.
The board shall, pursuant to chapter 1-26, promulgate rules relating to distributions,
conversions, transfers, rollovers, and limitations with regard to the designated Roth contribution
program in accordance with federal law.