2015 Pensions Policy
The state should ensure that excessive resources are not committed to funding teachers' pension systems.
As of June 30, 2015, the most recent date for which an actuarial valuation is available, South Dakota's teacher pension system is fully funded. This means that the plan does not have any unfunded liabilities and is financially sustainable.
South Dakota does not commit excessive resources toward its teachers' retirement system. The mandatory employee and employer contribution rates to the defined benefit plan are both 6.00 percent. These rates are set by state statute. Both of these rates are reasonable, considering that teachers and local districts are also contributing to Social Security.
South Dakota Retirement System. Actuarial Valuation, as of June 30, 2015.
South Dakota was helpful in providing information that enhanced this analysis.