Daugaard signs bill to keep retirement system sustainable

PIERRE, S.D. (AP) -- Gov. Dennis Daugaard has signed into law a measure meant to make sure the state's retirement system is solvent into the future.

The Republican governor on Thursday signed the bill, which ties cost-of-living adjustments for recipients more closely to actual earnings and inflation.

The law also requires more immediate attention if there are problems with the retirement plan. Daugaard says it's another measure to strengthen the South Dakota Retirement System.

The governor also signed several other measures dealing with the public employee retirement system.

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