{"data":{"id":"us-sd/sdcl-3-12c-1649","jurisdiction":"us-sd","citation":"SDCL § 3-12C-1649","heading":"Surviving spouse election to receive lump sum trustee-to-trustee payment in lieu of monthly payments.","body":"Upon the death of a vested member of the state cement plant retirement plan who died prior to starting a monthly retirement benefit, the member's surviving spouse may elect a lump sum trustee-to-trustee payment in lieu of monthly surviving spouse benefit payments. The amount of the lump sum trustee-to-trustee payment shall be determined by the system's actuary based on the actuarial equivalent, as defined by the cement plant retirement plan, of the spouse's age sixty-five survivor benefit. However, no lump sum trustee-to-trustee payment may be made unless the following requirements are satisfied:\n(1) Neither the member nor the member's family nor the member's spouse received any monthly benefits from the plan; and\n(2) The surviving spouse directs a trustee-to-trustee transfer of the lump sum payment to a receiving retirement custodian, trustee, or other approved recipient.\nAny eligible surviving spouse who desires to make the election authorized by this section shall submit an application to the system.","path":["TITLE 3. PUBLIC OFFICERS AND EMPLOYEES","CHAPTER 3-12C. SOUTH DAKOTA RETIREMENT SYSTEM"],"source_url":"https://sdlegislature.gov/Statutes/3-12C-1649","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:56Z","sha256":"a2aea2fe0618b4282028eaea797b0111979797f22173c18b0722a3457698340b","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-3-12c-1648","next":"us-sd/sdcl-3-12c-1650"},"notice":"GroundRules: Original legal text. Not legal advice."}