Retirement Fund

 A pair of bills meant to improve the
financial condition of the South Dakota Retirement System are
headed to the governor's desk.

The bills were approved in the House on Monday.

One bill puts some restrictions on a practice where an employee
retires, takes retirement pay and then is hired back. Another bill
temporarily reduces the cost-of-living increase for retirees.
The retirement system covers employees of state government,
counties, cities and school districts. Its assets last June 30 were
down more than 20 percent from the $7.3 billion it held a year
earlier because the value of its stocks and other investments
decreased.

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