South Dakota's deferred compensation plan now allows participants who are at least 59½ years old to withdraw money from their accounts while still employed and continuing to contribute to the plan. Previously, in-service distributions were only allowed under specific circumstances outlined in existing law. This change gives older workers more flexibility in accessing their savings without having to leave their job or wait until retirement.
AI-generated summary
Signed by the Governor S.J. 350
Delivered to the Governor S.J. 268
Signed by the Speaker H.J. 324
Signed by the President S.J. 236
House of Representatives Do Pass Passed, YEAS 65, NAYS 0. H.J. 262
Retirement Laws Certified uncontested, placed on consent H.J. 1
Retirement Laws Do Pass Passed, YEAS 4, NAYS 0. H.J. 1
Retirement Laws Scheduled for hearing H.J. 1
House of Representatives Referred to House Retirement Laws H.J. 137
First Reading House H.J. 125
Senate Do Pass Passed, YEAS 34, NAYS 0. S.J. 83
Retirement Laws Certified uncontested, placed on consent S.J. 1
Retirement Laws Do Pass Passed, YEAS 5, NAYS 0. S.J. 1
Retirement Laws Scheduled for hearing
First read in Senate and referred to Senate Retirement Laws S.J. 14
Do Pass
Retirement Laws — Do Pass
Do Pass
Retirement Laws — Do Pass