20:16:15:09.  Amount of early retirement pension. The amount of the early retirement pension is determined by calculating the amount of the normal pension to which the employee would be entitled if the employee were age 65 on the effective date the employee's early retirement pension reduced by four percent each year for which the date of early retirement precedes the employee's attaining age 65.

          Source: 28 SDR 109, effective February 11, 2002; 36 SDR 207, effective July 1, 2010; 40 SDR 197, effective May 27, 2014; 45 SDR 142, effective July 1, 2019.

          General Authority: SDCL 3-12C-1647.

          Law Implemented: SDCL 3-12C-1643, 3-12C-1644.