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SD Retirement System Receives National Recognition





          Office of Gov. Dennis Daugaard

500 E. Capitol Ave.

Pierre, S.D. 57501

605-773-3212

www.sd.gov

 

 

 

FOR IMMEDIATE RELEASE:  Friday, June 29, 2018

CONTACT:  Tony Venhuizen or Kelsey Pritchard at 605-773-3212

                              

 

SD Retirement System Receives National Recognition

 

PIERRE, S.D. – The Society of Actuaries has selected the South Dakota Retirement System as a winning Retirement 20/20 Model, awarding the state with a $10,000 prize. SDRS was one of four designs honored by the group for its ingenuity in handling risk, governance, and administration and for being a design that is understandable to its stakeholders.

 

“This recognition is well earned by the SDRS Board. The South Dakota Retirement System has been solidly funded for decades. We do not have unfunded liabilities and SDRS provides excellent benefits while operating with fixed funding at a low cost,” Gov. Dennis Daugaard said.

 

Retirement 20/20 is the Society of Actuaries’ ongoing initiative to align retirement systems with the economic and demographic needs of the 21st Century. As part of its initiative, the Society last fall called for models on governmental pension designs. The group chose South Dakota’s plan based on recently passed legislation, the fund’s financial condition and investment performance.

 

The Pew Charitable Trusts also recently recognized the state’s retirement system as one of two best-funded public pension plans in the nation. SDRS funded 97 percent of the plan’s accrued liabilities in 2016 and 100 percent of liabilities in 2017.

 

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