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 follows:
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; and
(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.
An Act to authorize the establishment of a designated Roth contribution program within the state
deferred compensation plan.
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I certify that the attached Act
originated in the
SENATE as Bill No. 29
____________________________
Secretary of the Senate
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____________________________
President of the Senate
____________________________
Secretary of the Senate
____________________________
Speaker of the House
____________________________
Chief Clerk
Senate Bill No. 29
File No. ____
Chapter No. ______
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Received at this Executive Office
this _____ day of _____________ ,
20____ at ____________ M.
By _________________________
for the Governor
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The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
____________________________
Governor
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STATE OF SOUTH DAKOTA,
ss.
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
____________________________
Secretary of State
By _________________________
Asst. Secretary of State
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