3-12C-1402. Suspension of retirement benefit during reemployment before July 1, 2004--Recalculation of additional benefit.

If a retired member whose benefits have been reduced pursuant to § 3-12C-1111 becomes employed as a permanent full-time employee by a participating unit before July 1, 2004, the payment of the member's retirement benefit, including the COLA pursuant to § 3-12C-703, shall be suspended during the period of reemployment. If the member remains in such reemployment for at least three years pursuant to the provisions of § 3-12C-1403 and then again retires, the member's additional benefit shall be recalculated to consider only the member's credited service and final compensation earned during reentry.

Source: SL 1970, ch 25, § 13; SDCL Supp, § 3-12-29.3; SL 1974, ch 35, § 65; SL 1982, ch 32, § 8; SL 1986, ch 37, § 10; SL 1997, ch 28, § 2; SL 2004, ch 38, § 3; SL 2017, ch 27, § 20; SDCL § 3-12-111; SL 2019, ch 22, § 1; SL 2021, ch 26, § 4.