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Sioux Falls Overview
Code of Ordinances of Sioux Falls, SD
SIOUX FALLS, SOUTH DAKOTA CODE OF ORDINANCES
CHARTER
CHARTER PARALLEL REFERENCES
TITLE I: GENERAL PROVISIONS
TITLE III: ADMINISTRATION
CHAPTER 30: CITY COUNCIL
CHAPTER 31: DEPARTMENTAL ORGANIZATION
CHAPTER 32: CITY ORGANIZATIONS
CHAPTER 33: EMERGENCY MANAGEMENT
CHAPTER 34: ETHICS
CHAPTER 35: CONFLICTS OF INTEREST OF OFFICERS AND EMPLOYEES AND ETHICS BOARD
CHAPTER 36: FINANCES
CHAPTER 37: TAXATION
CHAPTER 38: ELECTIONS
CHAPTER 39: PERSONNEL REGULATIONS AND BENEFITS; RETIREMENT AND PENSIONS
GENERAL PROVISIONS
HUMAN RESOURCES DEPARTMENT
CIVIL SERVICE; GENERALLY
CIVIL SERVICE BOARD
APPOINTIVE OFFICERS
CLASSIFICATION AND PAY PLAN
LEAVE PROGRAM; GENERALLY
VACATION LEAVE
SICK LEAVE
EMPLOYEE’S RETIREMENT SYSTEM; GENERALLY
§ 39.220 DEFINITIONS.
§ 39.221 OFFICERS OF RETIREMENT SYSTEM.
§ 39.222 COMPOSITION OF MEMBERSHIP.
§ 39.223 TERMINATION OF MEMBERSHIP.
§ 39.224 CREDITED SERVICE.
§ 39.225 MILITARY SERVICE CREDIT.
§ 39.226 MEMBER’S SERVICE ACCOUNTS.
§ 39.227 VOLUNTARY RETIREMENT.
§ 39.228 EARLY RETIREMENT; REDUCTION OF BENEFIT.
§ 39.229 MANDATORY RETIREMENT, POLICE OFFICER MEMBERS.
§ 39.230 RETIREMENT ALLOWANCE; GENERAL MEMBER.
§ 39.231 RETIREMENT ALLOWANCE; POLICE OFFICER MEMBER.
§ 39.232 TERMINAL PAYMENT.
§ 39.233 MINIMUM RETIREMENT ALLOWANCE.
§ 39.234 MOBILITY IN CITY EMPLOYMENT.
§ 39.235 DEFERRED RETIREMENT ALLOWANCE.
§ 39.236 RETIREMENT ALLOWANCE OPTIONS.
§ 39.237 DUTY INCURRED DISABILITY.
§ 39.238 DUTY DISABILITY ALLOWANCE; RETIREMENT AFTER VOLUNTARY RETIREMENT AGE.
§ 39.239 DUTY DISABILITY ALLOWANCE; RETIREMENT BEFORE VOLUNTARY RETIREMENT AGE.
§ 39.240 NON-DUTY-INCURRED DISABILITY.
§ 39.241 NON-DUTY-DISABILITY RETIREMENT ALLOWANCE.
§ 39.242 ADJUSTMENT OF DISABILITY ALLOWANCE.
§ 39.243 REEXAMINATION OF DISABILITY RETIRANTS.
§ 39.244 WORKERS’ COMPENSATION OFFSET.
§ 39.245 SERVICE-CONNECTED DEATH BENEFITS.
§ 39.246 NATURAL DEATH PENSIONS.
§ 39.247 REFUND OF ACCUMULATED CONTRIBUTIONS.
§ 39.248 ACCUMULATED CONTRIBUTIONS ACCOUNTS.
§ 39.249 RETIREMENT SYSTEM PAYMENTS.
§ 39.250 RETIREMENT SYSTEM CONTRIBUTIONS.
§ 39.251 ESTABLISHMENT OF GENERAL DIVISION, POLICE DIVISION.
§ 39.252 LIMIT OF CITY’S CONTRIBUTIONS.
§ 39.253 PENSIONS ALLOWED PRIOR TO 1951.
§ 39.254 ADMINISTRATIVE EXPENSES.
§ 39.255 INVESTMENT OF ASSETS.
§ 39.256 METHOD OF MAKING PAYMENTS.
§ 39.257 RETIREMENT SYSTEM FUND; ALLOWANCE OF REGULAR INTEREST.
§ 39.258 GROUP INSURANCE DEDUCTION.
§ 39.258.1 STIPEND.
§ 39.259 ASSIGNMENTS PROHIBITED.
§ 39.260 CORRECTION OF ERRORS.
§ 39.261 REDETERMINATION OF RETIREMENT ALLOWANCES.
§ 39.262 APPLICATION OF OTHER ORDINANCES.
§ 39.263 ADOPTION OF DEPARTMENT OF COMMUNITY DEVELOPMENT EMPLOYEE’S PENSION PLAN AND TRUST FOR EMPLOYEES THEREOF.
§ 39.264 CHANGES IN EMPLOYEE CONTRIBUTION LEVELS.
§ 39.265 CHANGE OR MODIFICATION OF BENEFITS; ACTUARIAL STATEMENT.
§ 39.266 CITY TO MAINTAIN RECORDS; INFORMATION TO BE FURNISHED TO ADMINISTRATOR.
§ 39.267 REMARRIAGE OF SURVIVING SPOUSE.
§ 39.268 TERMINATION OF PLAN.
EMPLOYEE’S RETIREMENT SYSTEM; BOARD OF TRUSTEES
FIREFIGHTERS’ PENSION FUND; GENERALLY
FIREFIGHTERS’ PENSION FUND; RETIREMENT BOARD
CHAPTER 40: ADMINISTRATIVE CODE ENFORCEMENT
CHAPTER 41: FEES
TITLE V: PUBLIC WORKS
TITLE VII: TRAFFIC CODE
TITLE IX: GENERAL REGULATIONS
TITLE XI: BUSINESS REGULATIONS
TITLE XIII: GENERAL OFFENSES
TITLE XV: LAND USAGE
TABLE OF SPECIAL ORDINANCES
CODE OF ORDINANCES PARALLEL REFERENCES
FEE INDEX
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§ 39.253 PENSIONS ALLOWED PRIOR TO 1951.
   All pensions being paid by the city prior to January 1, 1951, except to retired firefighters and their beneficiaries, shall become obligations of the retirement system and shall be paid from the retirement system, subject to § 39.252.
(1957 Rev. Ords., § 2.536; 1992 Code, § 35-48; Ord. 118-16, passed 12-20-2016)
§ 39.254 ADMINISTRATIVE EXPENSES.
   The administrative expenses of the retirement system as reasonably incurred shall be paid from the retirement system fund.
(1957 Rev. Ords., § 2.537; 1992 Code, § 35-49; Ord. 118-16, passed 12-20-2016)
§ 39.255 INVESTMENT OF ASSETS.
   (a)   The board of trustees shall be the trustees of the assets of the retirement system. The board shall have full and independent power to invest and reinvest the monies and assets of the retirement system and to hold, purchase, sell, assign, transfer and dispose of any securities and investments of the retirement system.
   (b)   The board shall establish a written investment policy, with the advice and counsel of the advisors as the board deems necessary, and the investment policy shall set forth the types of investments into which shall be placed the assets of the retirement system. The policy shall further set forth appropriate provisions with respect to investments, including, but not limited to, the anticipated rate of return, quality of investment, class of investment, maturity and liquidity, cash reserves and acceptable risk. The investment policy shall be reviewed by the board periodically.
   (c)   The board shall have the authority to invest and reinvest the assets of the retirement system in securities, investment vehicles or property, wherever situated and of whatever kinds, as shall be approved by the board and in accordance with the investment policy adopted by the board. The board may engage an investment advisor or investment counsel in contract for investment advice when they deem it necessary.
   (d)   The board may select one or more funding agents or investment counsel for the management of the assets of the retirement system. The selection and appointment of funding agents or investment counsel shall be made by the board, and the board shall have the right to determine the form and substance of each and every agreement under which the funds are to be held and managed by the funding agent or investment counsel, provided that the agreement shall not be inconsistent with the provisions of this subchapter.
      (1)   The board shall require that any funding agent or investment counsel who has custody or control of any property of the plan to keep accurate and detailed accounts of all investments, receipts, disbursements and other transactions pertaining to the trust property, and shall further require that all accounts, books and records pertaining thereto be open for inspection and audit at all reasonable times by the board or its designees and the city finance department or its designees. The board shall also be authorized to have conducted an independent audit at the expense of the retirement system.
      (2)   The board may retain the services of a qualified independent investment consultant who shall, at least on a semiannual basis, report on the relative performance of the retirement system's funding agents or investment counsel and recommend to the board the retention or replacement of the managers. A qualified independent investment consultant shall have the qualifications and experience as determined by the board from time to time.
   (e)   (1)   The board shall, in selecting a funding agent or investment counsel or advisor, exercise all judgment and care in the circumstances then prevailing which persons of prudence, discretion and intelligence exercise in the management of their own affairs. Any funding agent, investment counsel or advisor shall have a minimum of five years of experience.
      (2)   For the purposes of this section, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
         FUNDING AGENT. A corporate or individual trustee or trustees, insurance company or companies authorized to do business in the state, or combination thereof.
         INVESTMENT ADVISOR. A corporation or individual who has registered with the United States Securities and Exchange Commission as an investment advisor and is authorized to do business in the state.
         INVESTMENT COUNSEL. A corporation or individual authorized to do business under the Federal Investment Advisors Act of 1940, being 15 U.S.C. §§ 80b1 through 80-b-21, as amended from time to time, and authorized to do business in the state.
   (f)   The board of trustees may, unless restricted by law, transfer all or any portion of the assets of the retirement system to a collective or common group trust, as permitted under Revenue Ruling 81-100, Revenue Ruling 2011-1, Notice 2012-6, and Revenue Ruling 2014-24 (or subsequent guidance), that is operated or maintained exclusively for the commingling and collective investment of monies, provided that the funds in the group trust consist exclusively of trust assets held under plans qualified under § 401(a) of the Internal Revenue Code, individual retirement accounts that are exempt under § 408(e) of the Internal Revenue Code, eligible governmental plans that meet the requirements of § 457(b) of the Internal Revenue Code, and governmental plans under § 401(a)(24) of the Internal Revenue Code. For this purpose, a trust includes a custodial account or separate tax-favored account maintained by an insurance company that is treated as a trust under § 401(f) or under § 457(g)(3) of the Internal Revenue Code.
   (g)   Any collective or common group trust to which assets of the retirement system are transferred pursuant to the above shall be adopted by the board of trustees as part of the plan by executing appropriate participation, adoption agreements, and/or trust agreements with the group trust's trustee.
   (h)   The separate account maintained by the group trust for the plan pursuant shall not be used for, or diverted to, any purpose other than for the exclusive benefit of the members and beneficiaries of the plan.
   (i)   For purposes of valuation, the value of the separate account maintained by the group trust for the plan shall be the fair market value of the portion of the group trust held for the plan, determined in accordance with generally recognized valuation procedures.
   (j)   The description of the various funds of the retirement system shall be interpreted to refer to the accounting records of the retirement system and not to the segregation of its assets in the funds of the retirement system. All assets of the retirement system shall be held for the sole purpose of meeting disbursements for annuities, pensions and other payments authorized by this subchapter and shall be used for no other purpose.
(1957 Rev. Ords., § 2.538; 1992 Code, § 35-50) (Ord. 2491, passed 8-7-1967; Ord. 2650, passed 11-17-1969; Ord. 106-09, passed 12-7-2009; Ord. 118-16, passed 12-20-2016)
§ 39.256 METHOD OF MAKING PAYMENTS.
   All payments from monies of the retirement system shall be made according to ordinance and charter provisions governing the disbursement of monies.
(1957 Rev. Ords., § 2.539; 1992 Code, § 35-51; Ord. 118-16, passed 12-20-2016)
§ 39.257 RETIREMENT SYSTEM FUND; ALLOWANCE OF REGULAR INTEREST.
   (a)   The retirement system fund shall be the fund to which shall be credited all interest, dividends and other income from investments of the retirement system; all transfers from the accumulated contributions account by reason of lack of claimant; and all other monies received by the retirement system, the disposition of which is not specifically provided by this subchapter. The board may accept gifts and bequests and such shall be credited to the retirement system. Whenever the board determines that the balance in the retirement system is more than sufficient to cover the charges to the fund the board may provide for contingency reserves.
   (b)   Provided, however, that no interest be credited a member after he or she leaves city employment except as is otherwise specifically provided in this subchapter, at the end of each fiscal year the board shall allow and credit regular interest on the balance standing to each member's credit in the accumulated contributions account at the beginning of each quarter of the fiscal year.
(1957 Rev. Ords., § 2.540; 1992 Code, § 35-52) (Ord. 2757, passed 6-8-1971; Ord. 118-16, passed 12-20-2016)
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