In order to ensure employee confidence in the preservation and management of the South Dakota Retirement System, it is legislative policy that there should be no legislative enactment nor administrative action which would have the effect, directly or indirectly, of diverting any funds of the system to any purpose other than the administration and support of the benefits of members of the system.
S.D. Codified Laws § 3-12C-220
Diversion of funds prohibited--Legislative policy
Known as the South Dakota Retirement Act
The act spans §§ 3-12C-1001 to 3-12C-907 (298 sections).
Source: SL 1990, ch 34; SDCL § 3-12-72.3; SL 2019, ch 22, § 1.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.