The Supplemental Retirement Plan (SRP) is a tax advantaged retirement savings plan offered by the South Dakota Retirement System (SDRS). This benefit is available to all employees of state and local government, higher education, and school districts covered under the SDRS.

Participation in the SRP allows you to contribute up to the IRS maximum regulation amount per year, plus additional catch-up opportunities for those age 50 and those nearing retirement. Contributions can be pre-tax and/or Roth (after tax), depending upon your tax advantage preference. We encourage you to explore the tools and calculators on this website to help you determine how much to save, analyze the Roth option, and to explore your investment options.

New enrollees will have no fees for the first two years. Beginning in the third year, if your account balance is less than $7,500, the administrative cost will be $12 per year ($1 per month). When your balance exceeds $7,500, the 0.16 percent annual asset fee will apply. Annual asset fees will be capped at $500 (combined maximum).

Participants enjoy this plan because of the low fees and the variety of investment options for all risk tolerance preferences. Many choose to consolidate their IRAs and employer sponsored retirement plans from past employment (401k, 403b, 401a, etc.) into the SRP 457(b) plan. Contact our office and we can help you initiate this process.

Learn more about the SDRS Supplement Retirement Plan.