<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 3-12C-1109 - Adjustments in benefit for certain retirees based on time and circumstances of retirement. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033398Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033398SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033398CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033398Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033398DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033398Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2033398000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033398SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033398SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2033398Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1109"><span class="s2033398SENU">3-12C-1109</span></a><span xml:space="preserve" class="s2033398SENU">. </span><span class="s2033398CL">Adjustments in benefit for certain retirees based on time and circumstances of retirement.</span></p><p dir="ltr" class="s2033398Normal-000000"><span xml:space="preserve" class="s2033398DefaultParagraphFont">Each member who retired before July 1, 2008, and each beneficiary of a deceased member who retired prior to July 1, 2008, shall receive a retirement benefit based on the provisions of § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1106"><span class="s2033398DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033398DefaultParagraphFont">3-12C-1107</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont">, or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1108"><span class="s2033398DefaultParagraphFont">3-12C-1108</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont"> as applicable based on the member's final average compensation, credited service, and other public benefits at retirement and the benefit formulas in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1106"><span class="s2033398DefaultParagraphFont">3-12C-1106</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1107"><span class="s2033398DefaultParagraphFont">3-12C-1107</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1108"><span class="s2033398DefaultParagraphFont">3-12C-1108</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont"> when increased by the COLA from the date of retirement to July 1, 2008.</span></p><p dir="ltr" class="s2033398Normal-000001"><span class="s2033398DefaultParagraphFont">Increased benefits as provided by any amendment to this section are prospective in nature and are effective July 1, 2008.</span></p><p dir="ltr" class="s2033398Normal-000001"><span xml:space="preserve" class="s2033398DefaultParagraphFont">Each member or beneficiary of a member who retired before July 1, 1974, who is receiving benefits pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1605"><span class="s2033398DefaultParagraphFont">3-12C-1605</span></a><span xml:space="preserve" class="s2033398DefaultParagraphFont"> or each member or beneficiary of a member who elected to retire pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1606"><span class="s2033398DefaultParagraphFont">3-12C-1606</span></a><span class="s2033398DefaultParagraphFont">, shall have a benefit increased by an additional two percent as of July 1, 2008, in lieu of the increase provided in this section.</span></p><p dir="ltr" class="s2033398Normal-000001"><span class="s2033398DefaultParagraphFont">If a member retired before normal retirement age, the benefit shall be adjusted in accordance with the law in effect at the time of retirement. If a member elected an alternate method of payment under the law in effect at the time of retirement, the benefit shall be adjusted in accordance with the law in effect at the time of retirement. If the additional benefit is to be paid to a beneficiary of a deceased member, the additional benefit shall be adjusted in accordance with the law in effect at the time of the member's retirement.</span></p><p dir="ltr" class="s2033398Normal-000001"><span class="s2033398DefaultParagraphFont">No member or beneficiary whose retirement benefit terminated before July 1, 2008, may receive any benefits pursuant to this section.</span></p><p dir="ltr" class="s2033398Normal"><span xml:space="preserve" class="s2033398000002"> </span></p><p dir="ltr" class="s2033398Normal"><span class="s2033398SCL">Source:</span><span xml:space="preserve" class="s2033398SCL-000003"> SL 1997, ch 26, § 7; SL 1998, ch 15, § 19; SL 1999, ch 15, § 6; SL 2000, ch 25, § 4; SL 2008, ch 23, § 4; SL 2017, ch 27, § 13; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-92.6"><span class="s2033398SCL-000003">3-12-92.6</span></a><span class="s2033398SCL-000003">; SL 2019, ch 22, § 1.</span></p></div></body></html>