S.D. Admin. R. 20:16:19:39
The annual increase in the amount of the benefit paid for each year commencing on the July first that is at least 12 months following the date on which the benefit was first payable shall be 3.1 percent, compounded annually. This annual increase applies to all employees who retire after April 30, 2000, and to those employees who terminate employment after April 30, 2000, and entitled to a deferred pension pursuant to § 20:16:19:30. The improvement factor for inactive vested employees shall commence on the July first that is at least 12 full calendar months following the date of termination. No individual may be required to incur another improvement factor waiting period when changing from one type of benefit to another type of benefit. Once the original waiting period has applied, future benefits shall automatically increase each July 1 thereafter.
S.D. Admin. R. 20:16:19:39
General Authority: SDCL 3-12C-1647.
Law Implemented: SDCL 3-12C-1643, 3-12C-1644.