Title 2 ADMINISTRATION AND PERSONNEL
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)