South Dakota § 3-13C-14 - Vested accrued benefit--Distribution--Small amounts payment.
Full text of South Dakota South Dakota Codified Laws § 3-13C-14 — Vested accrued benefit--Distribution--Small amounts payment., with citation guidance and answers to common questions.
§ 3-13C-14. Vested accrued benefit--Distribution--Small amounts payment.
If the present value of the participant's vested accrued benefit does not exceed five thousand dollars, and the participant has not started retirement benefits with respect to any portion of the vested accrued benefit, the present value of the participant's entire vested accrued benefit shall be distributed as of the earliest of the participant's retirement date or the date of severance from employment for any reason other than death. For purposes of this section, if the present value of the participant's vested accrued benefit is zero, the participant shall be deemed to have received a distribution of the present value. This is a small amounts payment. The small amounts payment is in full settlement of all benefits otherwise payable.
If a participant has a severance from employment for any reason other than death or retirement and does not elect to have a small amounts payment paid directly to an eligible retirement plan specified by the participant in a direct rollover or to receive the distribution directly and the present value of the participant's vested accrued benefit is greater than one thousand dollars, a mandatory distribution will be made in accordance with § 3-13C-12 . If the present value of the participant's vested accrued benefit is one thousand dollars or less, the present value of the participant's entire vested accrued benefit shall be paid directly to the participant.
If the present value of the preretirement spouse and dependent child death benefit or the certain period death benefit as provided in § 3-13C-18 does not exceed five thousand dollars on the date of the participant's death, the present value of the preretirement spouse and dependent child death benefit or the certain period death benefit shall be distributed as of the date the participant dies. If the single sum death benefit payable to a beneficiary does not exceed five thousand dollars, on the date of the participant’s death, the death benefit shall be distributed in a single sum as of the date the participant dies. This is a small amounts payment.
A small amounts payment is in full settlement of the death benefit otherwise payable. No other small amounts payments may be made.
Source: SL 2020, ch 13, § 21.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 3-13C-14
What does South Dakota Codified Laws § 3-13C-14 cover?
Section 3-13C-14 ("Vested accrued benefit--Distribution--Small amounts payment.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 3-13C-14?
A common citation format is "South Dakota Codified Laws § 3-13C-14" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 3-13C-14 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.