A political subdivision may not maintain a deferred compensation plan as its principal retirement plan unless the deferred compensation plan was established prior to 1974. A deferred compensation plan established pursuant to chapter 3-13 may only be supplemental or secondary to the political subdivision's primary plan.
S.D. Codified Laws § 3-13-56.9
Political subdivision--Deferred compensation plan as principal retirement plan limited
Source: SL 2025, ch 27, § 85.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.