Chapter 2.16 EMPLOYEE RETIREMENT SYSTEM

2.16.010 Participating municipality in the South Dakota Municipal Retirement System.

2.16.020 Effective date.

2.16.030 Membership of retirement system.

2.16.040 Five percent deduction from employees salary.

2.16.050 City to pay matching five percent.


2.16.010 Participating municipality in the South Dakota Municipal Retirement System.

The city of Britton, hereafter called the city, shall participate in the South Dakota Employees Retirement System for the purpose of including general employees in the South Dakota Retirement System, hereafter called the Employees Retirement System. (Ord. 433 § 1-6-1, 2001; prior code § 1-6-1)

2.16.020 Effective date.

The effective date of the city’s participation in the Employees Retirement System shall be retroactive to January 1, 1968. (Ord. 433 § 1-6-2, 2001; prior code § 1-6-2)

2.16.030 Membership of retirement system.

All general employees of the city as of the date listed in Section 2.16.020 of this chapter shall be included in the membership of the Employee Retirement System; and all persons who, thereafter, become general employees of the city shall be included in the membership of the Employee Retirement System. (Ord. 433 § 1-6-3, 2001; prior code § 1-6-3)

2.16.040 Five percent deduction from employees salary.

The municipal finance officer is directed to deduct five percent of the salaries paid general employees and forward such deductions to the retirement system; such deductions to be made from each and every general employee’s salary on each and every payroll and for each and every payroll period subsequent to the effective date of the city’s participation in the retirement system. (Ord. 433 § 1-6-4, 2001; prior code § 1-6-4)

2.16.050 City to pay matching five percent.

The municipal finance officer is authorized to pay from city funds a matching five percent of salary, and to forward the matching amount to the retirement system, together with the payment of the employees contribution as provided in Section 2.16.040. (Ord. 433 § 1-6-5, 2001; prior code § 1-6-5)