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SD Department of Labor Employee Retirement Board
The South Dakota Department of Labor Employee Retirement Board (SD DOL ERB) was created by Chapter 386, Laws of 1987. South Dakota Codified Law 61-2-15 through 61-2-15.6 governs the SD DOL ERB. The board shall consist of five members and meet at least twice a year. The Board’s responsibility is to administer the South Dakota Department of Labor, Job Service, Unemployment Division and Office of Administrative Services Retirement Plan.
This retirement plan began in August 1, 1961 and stopped taking participants on July 1, 1980. Of the approximately 230 participants in the plan, fewer than 10 remain on active employment.
The ERB has hired Principal Financial Group as the Plan’s financial advisor and Deloitte Consulting LLP as the Plan’s impartial actuary.
Senate Bill 9
Purpose: to repeal the Department of Labor and Regulation's retirement plan and to transfer plan members and funds to the South Dakota Retirement System.
Actuarial Valuation Report for the South Dakota Department of Labor Retirement Plan Available
Find the July 1, 2019 report, as well as prior years on the SD DOL ERB's Annual Actuarial Valuation Reports page.
If you cannot find the information you are seeking, please contact us.
South Dakota Department of Labor and Regulation
123 W. Missouri Ave.
Pierre, SD 57501