SDCL § 3-13A-5.1: Compensation during plan year.

A participant's compensation, for purposes of the application of § 3-13A-5, paid or made available during a plan year, must include:

(a) Any elective deferral, as defined in § 402(g)(3) of the Internal Revenue Code; and

(b) Any amount that is contributed or deferred by the participant's employer at the election of the participant and which is not includible in the gross income of the participant by reason of § 125, 132(f)(4), or 457(b) of the Internal Revenue Code.