South Dakota § 3-12C-819 Disability benefits for generational members.

South Dakota Statutes

§ 3-12C-819 — Disability benefits for generational members.

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

The disability benefit approved pursuant to § 3-12C-817 is the greater of the following calculations:

(1)Twenty-five percent of the generational member's final average compensation at the date of disability; or (2) The generational member's unreduced accrued retirement benefit at the date of disability. The disability benefit shall be paid in monthly installments. The disability benefit of a generational member shall terminate upon attaining normal retirement age, or if the member commences a disability benefit within five years of normal retirement age, after receiving the disability benefit for five years, and thereafter the member shall receive a retirement benefit. In order to start the retirement benefit, the member shall submit a completed retirement application that includes

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The disability benefit approved pursuant to § 3-12C-817 is the greater of the following calculations: (1) Twenty-five percent of the generational member's final average compensation at the date of disability; or (2) The generational member's unreduced accrued retirement benefit at the date of disability. The disability benefit shall be paid in monthly installments. The disability benefit of a generational member shall terminate upon attaining normal retirement age, or if the member commences a disability benefit within five years of normal retirement age, after receiving the disability benefit for five years, and thereafter the member shall receive a retirement benefit. In order to start the retirement benefit, the member shall submit a completed retirement application that includes the benefit option elected by the member. The single life benefit is equal to the amount the member received as a disability benefit.

South Dakota § 3-12C-819 (Disability benefits for generational members.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.