Section 3-12-69.2 - Existing regents' contracts preserved--Expansion of retirement plan--Transition.
3-12-69.2. Existing regents' contracts preserved--Expansion of retirement plan--Transition. Nothing in §§ 3-12-69.1 to 3-12-69.5, inclusive, shall be construed to be a termination of any contract made on behalf of the State of South Dakota and its employees by the Board of Regents. The purpose of said sections is to expand the retirement plan of the Board of Regents for faculty and administrators and to allow for the transition of the plan in effect from April 1, 1964, to June 30, 1975, into the South Dakota Retirement System as provided for in this chapter.
Source: SL 1975, ch 38, § 2.