ENTITLED, An Act to revise certain provisions relating to disability and surviving spouse benefits for members of the South Dakota Retirement System.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 3-12-95.5 be amended to read as follows:
3-12-95.5. If no family benefit is being paid pursuant to § 3-12-95.4, a surviving spouse of a contributing member who had acquired at least three years of contributory service or noncontributory service as delineated in subsections (b), (e), (g), and (h) of subdivision 3-12-47(24) or died while performing usual duties for the employer and who died after June 30, 2015, shall, upon attaining the age sixty-five, receive a surviving spouse benefit calculated as follows, whichever is applicable:
(1) If a family benefit had been paid, sixty percent of the family benefit paid at the time the family benefit ended, increased by the improvement factor from the date the last family benefit was paid; or
(2) If a family benefit had not been paid, sixty percent of the amount calculated pursuant to subsection (a) or (b), whichever is greater, increased by the improvement factor from the date of the member's death:
(a) Twenty-five percent of the member's final average compensation at the time of the member's death; or
(b) The member's unreduced accrued retirement benefit at the time of the member's death.
The surviving spouse benefit shall be paid in monthly installments for the life of the surviving spouse.
Section 2. That § 3-12-207 be amended to read as follows:
3-12-207. The disability benefit approved pursuant to § 3-12-206 is the greater of the following
(1) Twenty-five percent of the member's final average compensation at the date of disability; or
(2) The member's unreduced accrued retirement benefit at the date of disability.
The disability benefit shall be paid in monthly installments for the life of the member unless the benefit terminates pursuant to § 3-12-210.
For purposes of determining the eligibility of a surviving spouse benefit, the disability benefit is considered a retirement benefit when the member attains the age of sixty-five.
An Act to revise certain provisions relating to disability and surviving spouse benefits for members of the South Dakota Retirement System.
I certify that the attached Act originated in the
HOUSE as Bill No. 1010
Speaker of the House
President of the Senate
Secretary of the Senate
House Bill No. 1010
File No. ____
Chapter No. ______
Received at this Executive Office this _____ day of _____________ ,
20____ at ____________ M.
for the Governor
The attached Act is hereby approved this ________ day of ______________ , A.D., 20___
STATE OF SOUTH DAKOTA,
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
Secretary of State
Asst. Secretary of State