South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS
Chapter 20:16:17 - Retirement plan 4A
Section 20:16:17:22 - Joint and survivor benefit

Universal Citation: SD Admin Rules 20:16:17:22
Current through Register Vol. 50, page 114, March 25, 2024

In lieu of the pension otherwise payable, an employee entitled to a normal or early retirement pension may elect to receive a smaller monthly pension during the employee's lifetime by electing a 50 percent or 100 percent joint and survivor benefit. After the employee's death the percentage of the reduced benefit elected by the employee shall be continued to the employee's beneficiary, called a "contingent annuitant," during the latter's lifetime. If a 50 percent or 100 percent joint and survivor option is not elected, an automatic 50 percent joint and survivor option shall be made unless an employee and spouse specifically choose not to elect either of the joint and survivor options.

General Authority: SDCL 3-12C-1647.

Law Implemented: SDCL 3-12C-1643, 3-12C-1644.

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