All employees of the University who have regular appointments and are at least half-time are automatically participants in the South Dakota Retirement System. Payroll deductions are taken at the rate of 6% of total compensation and are matched by the Board of Regents.

To be eligible for full retirement benefits, normal retirement age is 65 with at least three years of credited service under the SDRS. Your normal retirement date is the first day of the month of your 65th birthday. There is no mandatory retirement age. There are several opportunities to retire before your normal retirement date, depending on your age and years of service.

Death benefits are paid if a member dies while participating in SDRS. The Family Benefit is payable when children under the age of 19 are in the home, and the Spouse Benefit becomes effective when a member's spouse reaches age 65. SDRS also pays survivor benefits to your spouse after you have retired, provided your spouse has been married to you before your retirement date, and at least 12 months before your death.

The South Dakota Retirement System also provides disability benefits for employees who have three years of credited service or for employees who are accidentally disabled while performing the usual duties of their job. If you cannot work because of a disability that occurs before age 65 and is expected to last one year or longer, you may be eligible to receive a monthly benefit from SDRS.

For more detailed information about your retirement plan, see the SDRS booklet titled “Income for Your Retirement-Class A”, the SDRS Web Page or the BHSU Human Resources Web Page.