Family benefits payable under § 3-12C-901 are in lieu of the death benefits payable under any other provision of this chapter except that a designated beneficiary may elect, subject to a deduction for any benefits previously paid, prior to the receipt of the first payment under subdivision 3-12C-901(4), to withdraw the member's accumulated contributions providing there are no children on account of whom benefits are payable under subdivisions 3-12C-901(1) and (2).
S.D. Codified Laws § 3-12C-906
Family benefits in lieu of other death benefits--Election by designated beneficiary to withdraw accumulated contributions
Known as the South Dakota Retirement Act
The act spans §§ 3-12C-1001 to 3-12C-907 (298 sections).
Source: SL 1974, ch 35, § 51; SL 1975, ch 39, § 6; SDCL § 3-12-97; 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.