South Dakota § 3-12C-1111 Early retirement benefits for foundation members.

South Dakota Statutes

§ 3-12C-1111 — Early retirement benefits for foundation members.

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

Any vested foundation member can retire in the ten years preceding the member's normal retirement age and the retirement benefit shall be reduced by the lesser of the following:

(1)One-fourth of one percent for each full month which remains between the date of commencement of payments and the date the member will reach the member's normal retirement age; or (2) One-fourth of one percent for each full month which remains between the date of commencement of payments and the date the member will reach the member's reduction age.

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Any vested foundation member can retire in the ten years preceding the member's normal retirement age and the retirement benefit shall be reduced by the lesser of the following: (1) One-fourth of one percent for each full month which remains between the date of commencement of payments and the date the member will reach the member's normal retirement age; or (2) One-fourth of one percent for each full month which remains between the date of commencement of payments and the date the member will reach the member's reduction age.

South Dakota § 3-12C-1111 (Early retirement benefits for foundation members.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1967, ch 303, § 7 as added by SL 1968, ch 216, § 1; SDCL Supp, § 3-12-27.1; SL 1970, ch 25, § 6; SL 1974, ch 35, § 60; SL 1978, ch 34, § 1; SL 1986, ch 37, § 8; SL 2016, ch 32, § 44; SDCL §