Section 3-12A-21 - Deduction of premiums from salaries--Crediting and disbursement. - South Dakota Statutes

3-12A-21. Deduction of premiums from salaries--Crediting and disbursement. The employer shall deduct on each payroll of a member for each payroll period the amount of the insurance premium, including any administrative expense. The employer shall make deductions from salaries of employees and shall transmit monthly the amount specified to be deducted to the state treasurer. The state treasurer, after making a record of receipts, shall credit the public employees insurance system with an amount equal to that remitted by the employer. After the credit has been assigned to the insurance system, the commissioner shall disburse credit in accordance with the provisions of this chapter and the rules promulgated by the Bureau of Personnel.

Source: SL 1972, ch 23, § 11; SL 1988, ch 34, § 20; SL 2010, ch 19, § 89.