Each participating unit shall make an additional contribution in the amount of six and two-tenths percent of any foundation member's compensation in each calendar year that exceeds the maximum taxable amount for social security for the calendar year. The additional contribution may be made only for Class A foundation members and may not be treated as an employer contribution.
S.D. Codified Laws § 3-12C-402
Additional contribution for foundation members
Known as the South Dakota Retirement Act
The act spans §§ 3-12C-1001–3-12C-907 (298 sections).
Source: SL 2002, ch 23, § 5; SL 2016, ch 32, § 37; SDCL § 3-12-91.1; SL 2019, ch 22, § 1; SL 2025, ch 27, § 29.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.