South Dakota Codified Laws 3-13A-7. Participant account
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An account shall be established for each participant. The account shall be the basis for any distribution to the participant or to the participant’s beneficiary, surviving spouse, surviving children, or estate pursuant to § 3-13A-15.
Terms Used In South Dakota Codified Laws 3-13A-7
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Children: includes children by birth and by adoption. See South Dakota Codified Laws 2-14-2
Source: SL 2004, ch 43, § 7; SDCL, § 3-12-171; SL 2005, ch 28, § 1.