Definition of wages for unemployment insurance revised.
ENTITLED, An Act to
revise the definition of wages for unemployment insurance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended to read as follows:
As used in this title, the term, wages, does not include the amount of any payment
with respect to services performed on behalf of any person in its employ under a plan or system
established by an employing unit which makes provision for persons in its employ generally or for
a class or classes of persons including any amount paid by an employing unit for insurance on
annuities, or into a fund, to provide for any payment on account of:
Sickness or accident disability. However, in the case of payments made to an employee
or any one of the employee's dependents, this subdivision excludes from wages only
payments received under a worker's compensation law;
Medical or hospitalization expenses in connection with sickness or accident disability;
Retirement or pension if the payment is made pursuant to a qualified plan as provided
in 26 U.S.C. §§ 401(k), 403b, 408(k)
, and 408(p), other than any elective
contributions under paragraph (2)(A)(i) thereof,
as of January 1, 2006.
Signed March 7, 2007