This bill amends the South Dakota Retirement System statutes by updating the reference to the Internal Revenue Code. Specifically, it changes the definition of "Internal Revenue Code" or "code" in section 3-12C-113 to refer to the United States Internal Revenue Code as of January 1, 2025.

The update ensures that the South Dakota Retirement System aligns with the most current federal tax regulations, which may impact retirement benefits and contributions. This legislative change is aimed at maintaining compliance with federal standards and providing clarity for the administration of the retirement system.

Statutes affected:
Introduced, 01/08/2025: 3-12C-113
Enrolled, 02/10/2025: 3-12C-113