Statutes, codes, and regulations
South Dakota Administrative Rules
Title 62 - South Dakota Retirement SystemArticle 62:01 - Retirement
Chapter 62:01:03 - Retirement benefit
Section 62:01:03:05 - Privatized member's acquisition of certain service credit - Retirement while continuing to work for a private employer

S.D. Admin. R. 62:01:03:05

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Current through Register Vol. 51, page 67, December 16, 2024
Section 62:01:03:05 - Privatized member's acquisition of certain service credit - Retirement while continuing to work for a private employer

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

S.D. Admin. R. 62:01:03:05

37 SDR 214, effective 5/30/2011; 45 SDR 142, effective 7/1/2019

General Authority: SDCL 3-12C-211.

Law Implemented: SDCL 3-12C-310.