South Dakota § 3-12C-1102 Limitations on final average compensation for foundation members whose contributory service concluded before July 1, 2020.

South Dakota Statutes

§ 3-12C-1102 — Limitations on final average compensation for foundation members whose contributory service concluded before July 1, 2020.

South Dakota·Title 3 PUBLIC OFFICERS AND EMPLOYEES·Ch. 3-12B SOUTH DAKOTA RETIREMENT SYSTEM

For any foundation member whose contributory service concluded before July 1, 2020, if the compensation received in the last calendar quarter considered exceeds a set percentage of the amount in the highest previous calendar quarter, or if the average compensation received in the last four calendar quarters considered exceeds a set percentage of the amount earned in the highest calendar quarter prior to the last four calendar quarters considered, only the lesser amount shall be considered and the excess may not be included in the computation of final average compensation. Those respective set percentages are as follows:

(1)Before July 1, 2004, one hundred twenty-five percent and one hundred fifteen percent;

(2)Between July 1, 2004, and June 30, 2005, one hundred fifteen percent and

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For any foundation member whose contributory service concluded before July 1, 2020, if the compensation received in the last calendar quarter considered exceeds a set percentage of the amount in the highest previous calendar quarter, or if the average compensation received in the last four calendar quarters considered exceeds a set percentage of the amount earned in the highest calendar quarter prior to the last four calendar quarters considered, only the lesser amount shall be considered and the excess may not be included in the computation of final average compensation. Those respective set percentages are as follows: (1) Before July 1, 2004, one hundred twenty-five percent and one hundred fifteen percent; (2) Between July 1, 2004, and June 30, 2005, one hundred fifteen percent and one hundred ten percent; and (3) After June 30, 2005, one hundred five percent and one hundred five percent.

South Dakota § 3-12C-1102 (Limitations on final average compensation for foundation members whose contributory service concluded before July 1, 2020.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.