Supplemental Retirement Plan and Special Pay Plan



Ginny Lors (seated) and June Larson are your Nationwide Retirement Solutions Specialists.

 

The SDRS Supplemental Retirement Plan (SRP) is a tax-deferred savings option offered to members of SDRS. A tax-efficient, personal investment plan, the SRP allows participants to save additional dollars for retirement while postponing the payment of income tax on both contributions and earnings until they are withdrawn. The option to participate is available to all members of SDRS.

The SRP is managed by SDRS through a contract with Nationwide Retirement Solutions, Inc. For a description of the SRP and related issues, please refer to the document below. Members who are participating in the SRP find complete account information on The Nationwide Retirement Solutions Web site including how to make allocation and deferral changes.

You may also contact the company 7 days a week, 24 hours a day:

  • By Phone:
    Toll-free: 1.800.959.4457
    Locally: 605.224.2230
  • Mailing Address:
    SDRS Supplemental Retirement Plan
    222 East Capitol Avenue, Suite 8
    Pierre, SD 57501

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Special Pay Plan (SPP)

Effective July 1, 2004, SDRS created an additional retirement plan called the Special Pay Plan (SPP). The SPP provides eligible employees with two types of tax-efficient savings options, as well as additional retirement benefits. Under the Special Pay Plan, eligible members’ lump-sum termination payouts are permanently exempt from Social Security taxes and in addition are free from federal income taxation until they are withdrawn from the plan. A participant has the option to invest the funds and any earnings will grow tax deferred until they are distributed from the plan. Withdrawals may be in the form of a single, lump-sum payment or as additional monthly retirement benefits. Please refer to Special Plan Highlights or contact Nationwide Retirement Solutions.

The SPP is managed by SDRS through a contract with Nationwide Retirement Solutions, Inc. (NRS).


For additional information you may contact NRS:

  • By Phone:
    Toll-free: 1.800.959.4457
    Locally: 605.224.2230
  • Mailing Address:
    SDRS Special Pay Plan
    222 East Capital Ave Suite 8
    Pierre SD 57501

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