I do not know about the North american practice (LRFD) which appears to be focused on ultimate limit states.
Here in 'ole Europe, the practical procedure to calculate a SLS would be the following:
1) define the maximum allowable settlement, the treshold beyond which movements in the soil will cause unacceptable damage to the structure, serviceability-wise. The serviceability concept may be a relative one: In example, a very wealthy owner may define as serviceability treshold the onset of a very little crack on the wall. He has the money, he defines an arbitrarily low treshold as allowable structure settlement or tilt, which corresponds to an estimated maximum settlement treshold. In a few words, he only allows a very little settlement. As far as I know, the passage from soil settlement to structure movements is experience-based and a strong factor of the foundations and structures types. In the literature you can find only general examples.
2)Define the structural loads. SLS Load combinations are different from ULS combinations, the latter being more pessimistic. Loads are statistically represented by some high percentile of the pertinent distribution
3)Define the soil parameters of interest (Ey, Ed, Mv, Cc...)as a cautious estimate of its average value. Very cautious in particular conditions.
4)Apply formulas. Global and partial FOS' are equal to one.
5)If calculated settlement is lesser than the treshold settlement as previously defined, then SLS are satisfied.
One interesting aspect is that load used to calculate bearing capacity is different from the load used as an input for settlements calcs...