There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 3-12-92.6 — Adjustments in allowance for certain retirees based on time and circumstances ofretirement.
3-12-92.6. Adjustments in allowance for certain retirees based on time and circumstances of retirement. Each member who retired prior to July 1, 2000, and each beneficiary of a deceased member who retired prior to July 1, 2000, shall receive a retirement allowance based on the provisions of § 3-12-91, 3-12-92, or 3-12-92.4 as applicable based on the member's final compensation, credited service, and other public benefits at retirement and the benefit formulas in §§ 3-12-91, 3-12-92, and 3-12-92.4 when improved by the improvement factor from the date of retirement to July 1, 2000. Increased
benefits as provided by any amendment to this section are
prospective in nature and are effective July 1, 2000.
Each member
or beneficiary of a member who retired prior to July 1, 1974, who
is receiving benefits pursuant to § 3-12-126 or each
member or beneficiary of a member who elected to retire pursuant to
§ 3-12-127, shall have a benefit increased by an
additional 2.0% as of July 1, 2000, in lieu of the increase
provided in this section.
If a member
retired prior to normal retirement age, the allowance 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 allowance
shall be adjusted in accordance with the law in effect at the time
of retirement. If the additional allowance is to be paid to a
beneficiary of a deceased member, the additional allowance shall be
adjusted in accordance with the law in effect at the time of the
member's retirement.
No member or
beneficiary whose retirement allowance terminated prior to July 1,
2000, may receive any benefits pursuant to this section.
Source: SL 1997, ch 26, § 7; SL 1998, ch 15, § 19; SL 1999, ch 15, § 6; SL 2000, ch 25, § 4.
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