S.D. Codified Laws § 3-12C-818

Current through the 2024 Legislative Session

Section 3-12C-818 - Calculation of disability benefits-Foundation members

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

(1) Twenty-five percent of the foundation member's final average compensation at the date of disability; or

(2) The foundation member's unreduced accrued retirement benefit at the date of disability.

The disability benefit must be paid in monthly installments for the life of the foundation member unless the benefit terminates pursuant to § 3-12C-822.

For purposes of determining the eligibility of a surviving spouse benefit and administering a qualified domestic relations order, the disability benefit of a foundation member is considered a retirement benefit when the member attains normal retirement age.

SDCL 3-12C-818

SL 2014, ch 20, §7; SL 2015, ch 26, § 2; SL 2016, ch 32, §49; SDCL § 3-12-207; SL 2019, ch 22, §1; SL 2022, ch 15, §3.

Amended by S.L. 2022, ch. 15,s. 3, eff. 7/1/2022.