§ 3-12C-1505 — COLA applicable to supplemental pension benefits.

A supplemental pension participant shall receive a COLA applicable to the participant's supplemental pension benefit for each year commencing on the July first following the date on which the benefit was first payable, and equal to the COLA determined under § 3-12C-704 . However, no COLA is payable if the participant has received payments for less than twelve months.

Legislative History

SL 2008, ch 24, § 6; SL 2010, ch 20, § 15; SL 2016, ch 31, § 31; SL 2017, ch 27, § 32; SDCL § 3-12-193; SL 2019, ch 22, § 1; SL 2021, ch 26, § 8.