SB 31 updates the technical definitions used in South Dakota's state retirement system, including how actuarial values and contribution rates are calculated. The bill revises how the system determines its funded status and sets employer contribution requirements based on cost-of-living adjustments. These changes modernize the retirement system's financial management practices.
AI-generated summary
This bill does not directly amend codified state law.
Signed by the Governor S.J. 363
Delivered to the Governor S.J. 302
Signed by the Speaker H.J. 340
Signed by the President S.J. 259
House of Representatives Do Pass Passed, YEAS 70, NAYS 0. H.J. 297
House of Representatives Do Pass Passed, YEAS 70, NAYS 0. H.J. 299
Retirement Laws Certified uncontested, placed on consent
Retirement Laws Do Pass Passed, YEAS 5, NAYS 0.
Retirement Laws Scheduled for hearing
House of Representatives Referred to House Retirement Laws H.J. 77
First Reading House H.J. 64
Senate Do Pass Passed, YEAS 33, NAYS 0. S.J. 76
Senate Do Pass Passed, YEAS 33, NAYS 0. S.J. 76
Retirement Laws Certified uncontested, placed on consent
Retirement Laws Do Pass Passed, YEAS 5, NAYS 0.
Retirement Laws Scheduled for hearing
Senate Referred to Senate Retirement Laws S.J. 17
First Reading Senate S.J. 14
Do Pass
Retirement Laws — Do Pass
Retirement Laws — Do Pass