South Dakota's deferred compensation plan currently allows in-service distributions (early withdrawals while still working) only under specific circumstances like financial hardship. This bill adds a new option allowing participants who are at least 59½ years old to withdraw money from their deferred compensation plan whenever they choose, while still continuing to contribute to the plan.
AI-generated summary
Signed by the Governor S.J. 350
Delivered to the Governor S.J. 268
Signed by the Speaker H.J. 324
Signed by the President S.J. 238
House of Representatives Do Pass Passed, YEAS 65, NAYS 0. H.J. 262
Retirement Laws Certified uncontested, placed on consent H.J. 1
Retirement Laws Do Pass Passed, YEAS 4, NAYS 0. H.J. 1
Retirement Laws Scheduled for hearing H.J. 1
House of Representatives Referred to House Retirement Laws H.J. 137
First Reading House H.J. 125
Senate Do Pass Passed, YEAS 34, NAYS 0. S.J. 83
Retirement Laws Certified uncontested, placed on consent S.J. 1
Retirement Laws Do Pass Passed, YEAS 5, NAYS 0. S.J. 1
Retirement Laws Scheduled for hearing
First read in Senate and referred to Senate Retirement Laws S.J. 14
Retirement Laws
Prime sponsor · Sen
Do Pass
Do Pass
Do Pass
Do Pass
Do Pass