Planning for your retirement is important.  Part of that planning includes having financial resources to make your retirement years comfortable and secure.  The South Dakota Retirement System can help assure a predictable lifetime income for your individual needs and provide the added security you need to make your retirement financially secure.

With SDRS, you choose from a number of options to put together the retirement package that's right for you.

First, you decide when you want to retire:

 Normal Retirement begins at age 65 with a full benefit if you have at least three years of credited service;

 Delayed Retirement, or working past your normal retirement age, is another option you might prefer;

 Early retirement can also begin as soon as you reach age 55 and have at least three years of credited service; or

 Special early retirement provides a full benefit as early as age 55 with specific combinations of age and credited service.
 

Second, you choose how you want to receive your benefit:
 

 You normally will receive regular monthly payments for your life.

   If you retire between ages 55 and 62, you can receive larger monthly payments from SDRS until you reach age 62, when Social Security benefits begin.  After age 62, your SDRS lifetime payments will be reduced.

   The SDRS portable retirement option gives you an option of taking your accumulated contributions (your member contributions and up to 100% of your employer contributions plus credited interest) instead of monthly SDRS lifetime retirement benefits.
 

Third, you don't have to worry about losing your benefit if you become disabled, leave SDRS employment before retirement, or die:

The system has the following provisions to protect your benefits:
 

   If you become disabled while working for an SDRS employer, you will be eligible to receive disability benefits and continue to earn credited service toward your retirement benefit.

   SDRS provides a family benefit and spouse benefit if you die while still employed.

   If you terminate your employment before becoming eligible for retirement, but have completed at least three years of credited service, you will still be eligible for an SDRS monthly lifetime retirement benefit when you reach retirement age.

   You have a choice of receiving your accumulated contributions under the SDRS portable retirement option in lieu of SDRS monthly lifetime retirement benefits.
 
 

Non-Vested Members Who Leave Their Contributions on Deposit

Members who have contributed to the system for less than three years (non-vested) may leave their contributions with the system for up to 10 years from the date of termination.  After ten years, non-vested members must withdraw their contributions.  If SDRS is unable to locate a member to process the mandatory refund, that member's accumulated contributions will revert to the system.

  If you need additional information, please contact the SDRS office at the number listed above, or contact them at www.state.sd.us/sdrs