2006 South Dakota Code - 3-12-154 — Benefits for Mitchell firefighters--Improvement factor.

     3-12-154.   Benefits for Mitchell firefighters--Improvement factor. Each retired member or benefit recipient described in § 3-12-153 shall receive the same benefit under the form of annuity provided by the City of Mitchell firemen's pension plan as in effect on June 30, 1996. Each benefit shall continue to be improved on July 1, 1996, and thereafter by a three percent simple improvement factor, as bargained and agreed to by the city of Mitchell. The benefits of members described in § 3- 12-153 who are entitled to receive benefits from the city of Mitchell firemen's pension plan as of July 1, 1996, shall be paid from the fund established by this chapter and funded pursuant to § 3-12-156.

Source: SL 1996, ch 28, § 2.