South Dakota Administrative Rules Title 62 - South Dakota Retirement System
Here’s an overview of South Dakota Administrative Rules – Title 62 (Retirement System):
📘 Structure of Title 62
Based on authoritative sources (Cornell LII & Justia):
Title 62 is divided into four main Articles, each containing multiple Chapters:
Article 62:01 – Retirement
Chapters include: Definitions, Contributions, Retirement Benefits, Disability Benefits, Board of Trustees elections, Appeals, Administration, Benefit Limits, and Supplemental Pension Benefit (law.cornell.edu, regulations.justia.com).
Article 62:02 – Employees’ health and life insurance
Note: This article has been moved to Title 55:03 (law.cornell.edu).
Article 62:03 – Deferred Compensation Plan
Contains Chapters 62:03:01 through 62:03:07 covering plan rules, contributions, etc. (law.cornell.edu).
Article 62:04 – Special Pay Retirement Program
Encompasses Chapters 62:04:01 to 62:04:03 (law.cornell.edu).
🔍 Example: Benefit Limits (Chapter 62:01:08)
This chapter specifies how annual retirement benefit calculation is capped and adjusted for service time or early retirement:
If <10 years of credited service → benefits prorated accordingly.
For early retirements (before age 62), limits adjusted actuarially to age 62 equivalents.
Exception for police/firefighters: no limit reduction for early retirement if ≥15 years of service.
Uses a 5% interest rate and IRS mortality tables for actuarial reductions (law.cornell.edu).
✅ How to Access the Rules
Official South Dakota Legislature site: Navigate to the LRC Administrative Rules section for Title 62. (Searchable by article/chapter).
Cornell LII: Provides a convenient browse of Title 62 with articles and chapters (rules.sd.gov, law.cornell.edu).
Justia: Mirrors organization and provides chapter-level access .
🧭 What To Do Next?
Let me know if you want a detailed summary of any specific chapter (e.g., contributions, retirement calculations, disability benefits).
I can guide how to access the official PDFs or online portal to read the full legal text.
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