<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-1113 - Effective date of retirement benefit of foundation member--Last payment--Retroactive retirement benefits. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033402Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033402SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033402CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033402Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033402DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2033402Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2033402Normal-000002 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2033402000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033402SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033402SCL-000004 { 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="s2033402Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-1113"><span class="s2033402SENU">3-12C-1113</span></a><span xml:space="preserve" class="s2033402SENU">. </span><span class="s2033402CL">Effective date of retirement benefit of foundation member--Last payment--Retroactive retirement benefits.</span></p><p dir="ltr" class="s2033402Normal-000000"><span class="s2033402DefaultParagraphFont">Unless a foundation member's required beginning date for retirement occurs first, the early or normal retirement benefit of a foundation member is effective in accordance with whichever of the following is last:</span></p><p dir="ltr" class="s2033402Normal-000001"><span class="s2033402DefaultParagraphFont">(1)    The first day of the month following the date on which the member's contributory service terminated;</span></p><p dir="ltr" class="s2033402Normal-000001"><span class="s2033402DefaultParagraphFont">(2)    The first day of the month following an intervening complete calendar month after the date on which the member's written application for retirement benefits is received by the system; or</span></p><p dir="ltr" class="s2033402Normal-000001"><span class="s2033402DefaultParagraphFont">(3)    The first day of the month specified in the member's application for retirement.</span></p><p dir="ltr" class="s2033402Normal-000002"><span class="s2033402DefaultParagraphFont">The last payment of the member's benefit is for the month in which the member's death occurs.</span></p><p dir="ltr" class="s2033402Normal-000002"><span class="s2033402DefaultParagraphFont">Any foundation member who fails to make a timely application for retirement benefits may receive three months of benefits retroactive from the effective date of the member's retirement benefit. However, no foundation member may receive any retroactive benefits for any period of time before the first day of the month following the date on which the member's contributory service terminated.</span></p><p dir="ltr" class="s2033402Normal"><span xml:space="preserve" class="s2033402000003"> </span></p><p dir="ltr" class="s2033402Normal"><span class="s2033402SCL">Source:</span><span xml:space="preserve" class="s2033402SCL-000004"> SL 1967, ch 303, § 7; SDCL § 3-12-27; SL 1968, ch 216, § 1; SDCL Supp, § 3-12-25; SL 1970, ch 25, § 5; SL 1974, ch 35, § 46; SL 1978, ch 32, § 4; SL 1993, ch 42, § 4; SL 2016, ch 32, § 35; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-90"><span class="s2033402SCL-000004">3-12-90</span></a><span class="s2033402SCL-000004">; SL 2019, ch 22, § 1.</span></p></div></body></html>