Vision Payroll

March 29, 2011

South Dakota Declares Emergency and Lowers Investment Fee

Filed under: News — Tags: , , , — Vision @ 5:50 pm
South Dakota Governor Dennis Daugaard
South Dakota Governor Dennis Daugaard recently signed SB 86 into law. SB 86 declares an emergency and revises the employer’s investment in South Dakota’s future fee or “investment fee”.

Employers with Low Reserve Ratios to Pay a Lower Investment Fee

Employers with a reserve ratio of less than 1% had their investment fee lowered from 0.55% to 0.53%, effective retroactively to January 1, 2011.

Investment Fee Payments Do not Affect An Employer’s Experience Rating

Investment fee payments may not be credited to the employer’s experience rating account and may not be deducted in whole or in part by any employer from the wages of individuals in its employ.

Contact Vision Payroll Today

Contact Vision Payroll today if you have further questions on changes to the South Dakota investment fee.

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