20:16:19:09. Amount of the early retirement pension. The amount of the early retirement pension shall be 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 of the employee's early retirement pension times the appropriate percentage or pro rated percentage from the table below:
|
Years of Credited Service |
Age 55 |
Age 56 |
Age 57 |
Age 58 |
Age 59 |
Age 60 |
Age 61 |
Age 62 |
Age 63 |
Age 64 |
Age 65 |
|
Less than 21 |
70% |
73% |
76% |
79% |
82% |
85% |
88% |
91% |
94% |
97% |
100% |
|
21 |
73% |
76% |
79% |
82% |
85% |
88% |
91% |
94% |
97% |
100% |
100% |
|
22 |
76% |
79% |
82% |
85% |
88% |
91% |
94% |
97% |
100% |
100% |
100% |
|
23 |
79% |
82% |
85% |
88% |
91% |
94% |
97% |
100% |
100% |
100% |
100% |
|
24 |
82% |
85% |
88% |
91% |
94% |
97% |
100% |
100% |
100% |
100% |
100% |
|
25 |
85% |
88% |
91% |
94% |
97% |
100% |
100% |
100% |
100% |
100% |
100% |
|
26 |
88% |
91% |
94% |
97% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
|
27 |
91% |
94% |
97% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
|
28 |
94% |
97% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
|
29 |
97% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
|
30 |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
Source: 28 SDR 109, effective February 11, 2002; 36 SDR 2010, 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-Reference: Privatization of the plant -- Effect on benefits, § 20:16:19:28.
