20:16:19:02.  Term of coverage. The plan covers any employee who retires, dies, or becomes disabled after April 30, 2000, and any benefit payable under the plan became 100 percent vested and nonforfeitable on March 16, 2001, the date when the plant was privatized. Any employee on March 16, 2001, is eligible for all benefits payable under the plan the same as if the employee was still an active employee, even if the employee dies subsequent to March 16, 2001, but before the employee retires. Benefits for any person who is not an employee after April 30, 2000, shall be determined under the provisions of the retirement plan that existed at the time of the person's employment with the commission.

          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.

          Cross-References: Disability pension, § 20:16:19:10; Privatization of the plant -- Effect on benefits, § 20:16:19:28.