South Dakota § 3-12C-519 Class B public safety member--Purchase of equivalent public service.

South Dakota Statutes

§ 3-12C-519 — Class B public safety member--Purchase of equivalent public service.

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

If a current contributing Class B public safety member of this system has equivalent public service for which the member is not entitled to retirement benefits from another public retirement system, the member may elect to deposit or have deposited on the member's behalf an amount equal to an actuarially determined percentage times the appropriate Class B rate of contribution multiplied by the higher of the member's annual compensation at the time of making the election, or the member's final average compensation calculated as if the member retired on the date of the election, for each year of equivalent public service for which the member wishes to receive credit as a Class B member.

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If a current contributing Class B public safety member of this system has equivalent public service for which the member is not entitled to retirement benefits from another public retirement system, the member may elect to deposit or have deposited on the member's behalf an amount equal to an actuarially determined percentage times the appropriate Class B rate of contribution multiplied by the higher of the member's annual compensation at the time of making the election, or the member's final average compensation calculated as if the member retired on the date of the election, for each year of equivalent public service for which the member wishes to receive credit as a Class B member.

South Dakota § 3-12C-519 (Class B public safety member--Purchase of equivalent public service.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.