South Dakota § 3-12C-311 Privatization of governmental function--Member’s acquisition of service credit--Retirement while continuing private employment.

South Dakota Statutes

§ 3-12C-311 — Privatization of governmental function--Member’s acquisition of service credit--Retirement while continuing private employment.

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

Acquisition of years of service toward vesting or early retirement granted, pursuant to § 3-12C-310 , ceases upon the member's termination of employment with the private employer, even if the member later returns to employment with the employer. A member in continuing employment with the private employer need not terminate the private employment to receive a retirement benefit from the system. The member may not acquire additional years of service after the member begins receiving the benefit.

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Acquisition of years of service toward vesting or early retirement granted, pursuant to § 3-12C-310 , ceases upon the member's termination of employment with the private employer, even if the member later returns to employment with the employer. A member in continuing employment with the private employer need not terminate the private employment to receive a retirement benefit from the system. The member may not acquire additional years of service after the member begins receiving the benefit.

South Dakota § 3-12C-311 (Privatization of governmental function--Member’s acquisition of service credit--Retirement while continuing private employment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.