<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-601 - Retirement benefit to terminated member with vested right--Calculation. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2033330Normal { 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.s2033330SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033330CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2033330Normal-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.s2033330DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033330000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2033330SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2033330SCL-000002 { 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="s2033330Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12C-601"><span class="s2033330SENU">3-12C-601</span></a><span xml:space="preserve" class="s2033330SENU">. </span><span class="s2033330CL">Retirement benefit to terminated member with vested right--Calculation.</span></p><p dir="ltr" class="s2033330Normal-000000"><span class="s2033330DefaultParagraphFont">A terminated member who has a vested right in the system may leave the member's accumulated contributions on deposit with the system and receive a retirement benefit commencing at the member's retirement. In calculating such benefit, the member's final average compensation shall be increased by the COLA commencing each July first for each complete twelve-month period between the member's last termination and the date on which the member's retirement benefit commences.</span></p><p dir="ltr" class="s2033330Normal"><span xml:space="preserve" class="s2033330000001"> </span></p><p dir="ltr" class="s2033330Normal"><span class="s2033330SCL">Source:</span><span xml:space="preserve" class="s2033330SCL-000002"> SL 1974, ch 35, § 33; SL 1982, ch 32, § 4; SL 1986, ch 37, § 4; SL 1998, ch 17, § 3; SL 2004, ch 40, § 8; SL 2010, ch 20, § 9; SL 2017, ch 27, § 10; SDCL § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=3-12-75"><span class="s2033330SCL-000002">3-12-75</span></a><span class="s2033330SCL-000002">; SL 2019, ch 22, § 1.</span></p></div></body></html>