State of South Dakota  
EIGHTY-SEVENTH SESSION
LEGISLATIVE ASSEMBLY, 2012  

400T0340   SENATE BILL   NO.  30  

Introduced by:    The Committee on Retirement Laws at the request of the South Dakota Retirement System
 

        FOR AN ACT ENTITLED, An Act to allow for the establishment of an alternative benefit enhancement methodology within the South Dakota Retirement System.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
    Section 1. That chapter 3-12 be amended by adding thereto a NEW SECTION to read as follows:
    The board may establish an alternative benefit enhancement methodology based on investment performance that mitigates risk within the South Dakota Retirement System. No funding of the alternative benefit enhancement methodology may occur without prior legislative approval. The membership eligibility criteria and any allocation, credit, reduction, elimination, distribution, and any other operational provision relating to the alternative benefit enhancement methodology shall be based on standards and procedures established by the board by rules promulgated pursuant to chapter 1-26.


180 copies were printed on recycled paper by the South Dakota
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Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by overstrikes.